Integration of a Risk Management Tool and an Analytical Simulator for Assisted Decision-Making in IOR

Author(s):  
Vladimir Alvarado ◽  
Eva-Maria Reich ◽  
Yi Yunfeng ◽  
Klaus Potsch
Author(s):  
Robyn S. Wilson ◽  
Sarah M. McCaffrey ◽  
Eric Toman

Throughout the late 19th century and most of the 20th century, risks associated with wildfire were addressed by suppressing fires as quickly as possible. However, by the 1960s, it became clear that fire exclusion policies were having adverse effects on ecological health, as well as contributing to larger and more damaging wildfires over time. Although federal fire policy has changed to allow fire to be used as a management tool on the landscape, this change has been slow to take place, while the number of people living in high-risk wildland–urban interface communities continues to increase. Under a variety of climate scenarios, in particular for states in the western United States, it is expected that the frequency and severity of fires will continue to increase, posing even greater risks to local communities and regional economies.Resource managers and public safety officials are increasingly aware of the need for strategic communication to both encourage appropriate risk mitigation behavior at the household level, as well as build continued public support for the use of fire as a management tool aimed at reducing future wildfire risk. Household decision making encompasses both proactively engaging in risk mitigation activities on private property, as well as taking appropriate action during a wildfire event to protect personal safety. Very little research has directly explored the connection between climate-related beliefs, wildfire risk perception, and action; however, the limited existing research suggests that climate-related beliefs have little direct effect on wildfire-related action. Instead, action appears to depend on understanding the benefits of different mitigation actions and in engaging the public in interactive, participatory communication programs that build trust between the public and natural resource managers. A relatively new line of research focuses on resource managers as critical decision makers in the risk management process, pointing to the need to thoughtfully engage audiences other than the lay public to improve risk management.Ultimately, improving the decision making of both the public and managers charged with mitigating the risks associated with wildfire can be achieved by carefully addressing several common themes from the literature. These themes are to (1) promote increased efficacy through interactive learning, (2) build trust and capacity through social interaction, (3) account for behavioral constraints and barriers to action, and (4) facilitate thoughtful consideration of risk-benefit tradeoffs. Careful attention to these challenges will improve the likelihood of successfully managing the increasing risks that wildfire poses to the public and ecosystems alike in a changing climate.


2018 ◽  
Vol 21 (4) ◽  
pp. 473-520
Author(s):  
Kwabena Mintah ◽  

Studies have demonstrated the potential of real options analysis (ROA) in property development decision-making. However, practitioners have yet to accept, adopt and integrate ROA in property development decision-making in Australia. This paper therefore investigates how Australian residential property developers manage uncertainties and risks, examines flexibility as a risk management tool, and evaluates the receptiveness and acceptance of ROA for decision making. Data are collected through face-to-face semi-structured interviews with twelve participants, and analysed by using thematic analysis. The results indicate that a discount rate is insufficient for managing uncertainties and risks; rather, contingency is used. Receptiveness and acceptance of the RO theory are mixed due to lack of unanimity among responses. Some participants are positive about flexibility, while others are dismissive. Beyond quantitative ROA models, the findings suggest that practitioners are receptive to ROA, but concerns remain over adoption. Flexibility cases executed by some participants in practice indicate that practitioners are subconsciously using ROA. Therefore, it is possible that acceptance and adoption could be achieved in the future. Evidence of the use of contingency as a risk management tool challenges the long-held notions of risk-return relationships in property development and investment. This is initial evidence of qualitative research on ROA in practice within Australian property developments.


2019 ◽  
Vol 278 (3) ◽  
pp. 87
Author(s):  
Alexandre Marques da Silva Martins ◽  
Osiris Vargas Pellanda

<p>Directors and Officers Liability Insurance (D&amp;O) contracted by the direct public administration in Brazil</p><p> </p><p>O presente artigo pretende oferecer uma análise sobre os aspectos relacionados com a contratação de seguros de responsabilidade civil para diretores e gestores públicos (D&amp;O) pela administração pública direta no Brasil. Neste contexto, proceder-se-á a uma investigação dos fundamentos do seguro de responsabilidade civil que, por conseguinte, permitirá esclarecer as nuances do D&amp;O cujos beneficiários são diretores e agentes públicos que gozam de alta discricionariedade em processos decisórios. Assim, será demonstrado que, se um governo deseja utilizar de maneira eficiente o D&amp;O, que é uma ferramenta de gerenciamento de risco, é necessária não só a aplicação da análise econômica do direito e de princípios de governança corporativa, mas também de princípios que regem a administração pública em seus negócios jurídicos.</p><p> </p><p>This article aims to analyze the Directors and Officers Liability Insurance (D&amp;O) contracted by the direct public administration in Brazil. In this context, an understanding of the underpinnings of civil liability insurance sheds light on the nuances of the D&amp;O, whose beneficiaries are usually managers and public agents enjoying high-discretion decision-making power. Hence, this study will demonstrate that if a government wishes to make efficient use of D&amp;O, a risk management tool, it is necessary to apply not only the Economic Analysis of the Law and principles of corporate governance but also general principles governing the public administration in its transactions.</p>


2006 ◽  
Author(s):  
Vladimir Alvarado ◽  
Eva-Maria Reich ◽  
Yi Yunfeng ◽  
Klaus Potsch

2009 ◽  
Vol 17 (3) ◽  
pp. 345-353
Author(s):  
S. Colombano ◽  
C. Merly ◽  
H. Gaboriau

2007 ◽  
Vol 15 (2) ◽  
pp. 223-233 ◽  
Author(s):  
J. Engels ◽  
D. Dixon-Hardy ◽  
C. McDonald ◽  
K. Kreft-Burman

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