scholarly journals Adaptation Potential of Farmers’ Own Risk Management Strategies in Smallholder Agriculture: Some Evidence from India

2021 ◽  
Author(s):  
Pratap Singh Birthal ◽  
Jaweriah Hazrana ◽  
Digvijay Negi
Keyword(s):  
Risk Management ◽  
Agricultural Production ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Farm Size ◽  
Risk Exposure ◽  
Indian Agriculture ◽  
Management Measure ◽  
Risk Management Strategies ◽  
And Coping

Abstract Farmers in developing countries are more exposed to frequent climatic shocks, and they, in the absence of a well-functioning market for crop insurance, rely on their own risk management strategies to reduce adverse effects of climatic shocks on agricultural production. This study evaluates adaptation benefits of farmers’ own risk management strategies in Indian agriculture, and comes out four key highlights. One, farmers, based on their historical exposures to climatic shocks, resource endowments and access to information and credit, often use more than one risk management measure at a time. Two, all risk management strategies, including the mitigation, transfer and coping, contribute towards improving agricultural productivity and reducing downside risk exposure, but it is the risk mitigation strategy that is more efficient. Three, joint adoption of risk management strategies generates even larger adaptation benefits. Four, although joint adoption of these strategies is positively associated with farm size, with information and liquidity constraints relaxed probability of their joint adoption is likely to increase on smaller farms.

The management of risk in a dryland environment

2011 ◽  
pp. 13-21
Author(s):  
D.I. Gray ◽  
J.I. Reid ◽  
D.J. Horne
Keyword(s):  
Risk Management ◽  
Service Providers ◽  
Management Strategies ◽  
Subterranean Clover ◽  
Farming Systems ◽  
Market Risk ◽  
Farm Size ◽  
Forage Crops ◽  
Risk Management Strategies ◽  
Upside Risk

A group of 24 Hawke's Bay hill country farmers are working with service providers to improve the resilience of their farming systems. An important step in the process was to undertake an inventory of their risk management strategies. Farmers were interviewed about their farming systems and risk management strategies and the data was analysed using descriptive statistics. There was considerable variation in the strategies adopted by the farmers to cope with a dryland environment. Importantly, these strategies had to cope with three types of drought and also upside risk (better than expected conditions), and so flexibility was critical. Infra-structure was important in managing a dryland environment. Farmers chose between increased scale (increasing farm size) and geographic dispersion (owning a second property in another location) through to intensification (investing in subdivision, drainage, capital fertiliser, new pasture species). The study identified that there may be scope for further investment in infra-structural elements such as drainage, deeper rooting alternative pasture species and water harvesting, along with improved management of subterranean clover to improve flexibility. Many of the farmers used forage crops and idling capacity (reduced stocking rate) to improve flexibility; others argued that maintaining pasture quality and managing upside risk was a better strategy in a dryland environment. Supplementary feed was an important strategy for some farmers, but its use was limited by contour and machinery constraints. A surprisingly large proportion of farmers run breeding cows, a policy that is much less flexible than trading stock. However, several farmers had improved their flexibility by running a high proportion of trading cattle and buffer mobs of ewe hoggets and trade lambs. To manage market risk, the majority of farmers are selling a large proportion of their lambs prime. Similarly, cattle are either sold prime or store onto the grass market when prices are at a premium. However, market risk associated with the purchase of supplements and grazing was poorly managed.

Risk Management Strategies for Project Success

2018 ◽  
pp. 250-267
Author(s):  
Vittal S. Anantatmula ◽  
Yang Fan
Keyword(s):  
Risk Management ◽  
Project Success ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Management Plan ◽  
Mitigation Strategies ◽  
Risk Management Plan ◽  
Industrial Sectors ◽  
Risk Management Strategies ◽  
Risk Mitigation Strategies

As projects are associated with risks due to the presence of uncertainties and unknowns, risk management assumes importance in project success. This chapter is an attempt to examine various risk mitigation strategies that are commonly employed if different industrial sectors. The chosen risk strategy would also largely depend either on individual's or organization's propensity to take risks. The authors summarize the findings of a research study in this chapter. The research results show that effort and details of a risk management for a project are governed by risks associated with cost and time and not necessarily with the project scope. Also, many organizations prefer a contingency budget to the project plan to developing a detailed risk management plan.

scholarly journals Risks and determinants of risk management strategies among rural cassava-based farmers in Imo State

2020 ◽  
Vol 17 (2) ◽  
pp. 100-115
Author(s):  
C.E. Ahaneku ◽  
S.U.O. Onyeagocha ◽  
C.C. Eze ◽  
N.M. Chidiebere-Mark ◽  
G.O. Ellah ◽  
...  
Keyword(s):  
Risk Management ◽  
Management Strategies ◽  
Sampling Technique ◽  
Farm Size ◽  
Farm Income ◽  
Imo State ◽  
Resistant Species ◽  
Risk Management Strategies ◽  
Multistage Sampling ◽  
Logit Regression Model

Cassava-based farmers are faced with a lot of risks and uncertainties and this results to low agricultural output and hinders the rural farmers from  pursuing their farming activities as an enterprise. The study assessed the risks and determinants of risk management strategies among rural cassava-based farmers in Imo State. A multistage sampling technique was used in the selection of respondents. Data were collected with the use of structured questionnaire administered to 180 respondents. Multinomial logit regression model was used to determine the factors influencing the choice of risk management strategies among rural cassava-based farmers in the study area. Results of the study showed that the farmers were of middle-age, fairly educated and have average farm size of one hectare. Majority of the farmers identified loss of crop due to disease (76.11%) and loss due to erosion (73.89%) as sources of risk farmers were exposed to. Also greater number of the respondents adopted practicing of mixed  cropping and planting of disease resistant species as risk management strategies. The result of the study also confirmed that age, gender, educational level and farm income were the major determinants of the farmers’ choice of risk management strategies. It was recommended that  government should make extension services functional and provide policies that will help boost the socio-economic welfare of farmers as this will significantly propel an increase in the choice effective risk management strategies in the area. Keywords: Risk management, risk management strategies, cassava based farmers.

scholarly journals Assessment of the Risk Management Strategies among Arable Crop Farmers in Owerri West Local Government Area of Imo State, Nigeria

2019 ◽  
pp. 1-10
Author(s):  
O. B. Ibeagwa ◽  
N. C. Ehirim ◽  
G. N. Ben-Chendo ◽  
I. I. Ukoha ◽  
E. C. Osuji ◽  
...  
Keyword(s):  
Risk Management ◽  
Local Government ◽  
Crop Production ◽  
Management Strategies ◽  
Household Size ◽  
Local Government Area ◽  
Farm Size ◽  
Imo State ◽  
Arable Crop ◽  
Risk Management Strategies

The increased incidences of farming risks have been a challenge among smallholder farmers in Nigeria. This study set out to assess risk management strategies among arable crop farmers in Owerri West Local Government Area of Imo State, Nigeria. The proportion of risk in arable crop production and the factors that influence risk in arable crop production in the study area were specifically estimated. Primary data used for the study were collected with the aid of well-structured questionnaire from eighty-four farmers in the study area. Data were analyzed using descriptive and inferential statistics. The result revealed that majority of the arable crop farmers (52.4%) were females. The average age and household size were 54 years and 5 persons respectively. Educational level, age, farming experience, farm size, household size and farm income were the factors influencing the estimated output of the farmers due to the prevalence of risk in arable crop production. The study recommended the continuous education of arable crop farmers in the area so as to increase their capacity to deal with risk on their farms.

scholarly journals Farmers’s Choice to Risk Management Strategies of Corn Farming in Sigi District Central Sulawesi

2021 ◽  
Vol 232 ◽  
pp. 02016
Author(s):  
Heni SP Rahayu ◽  
Mardiana Dewi ◽  
Tina Febrianti
Keyword(s):  
Risk Management ◽  
Management Strategies ◽  
Study Data ◽  
Farm Size ◽  
Logit Analysis ◽  
Adoption Of Technology ◽  
Risk Management Strategies ◽  
Corn Productivity ◽  
Managing Risk ◽  
Central Sulawesi

Corn has a very significant contribution in the national economy as one of main food crop commodities. As a strategic commodity, corn has big potency even in covid-19 pandemic time, corn relatively resilient compare to other commodities in Central Sulawesi. However the level of corn productivity will relate to the adoption of technology and the farmers’s choices to cope with risk, both production and marketing. Therefore, the study aims to know farmers’s choices to corn farming risk management strategies. A survey had been conducted to 75 respondents across the three districts in Sigi Central Sulawesi, and a quantitative analysis approach was applied in the study. Data were analyzed using descriptive and multinomial logit analysis. The result showed that mostly of the corn farmers have no spesific risk management strategy due to the limit of information and awareness. While a second number already aware but not use spesific strategies. The rest of respondents have adopted certain strategies for managing risk but not compensatory for marketing’s risk yet. Some farmers gave credence to engage with the not formal contract or middleman as buyers and supplier for the production input and thus, becoming vulnerable position for the farmers. Variables that significantly gave effect on the choice of risk management strategies are: education, farm size, activity in farmer group, alternative commodity, and propensity to take a risk.

scholarly journals Risk Mitigation Analysis in a Supply Chain of Coffee Using House of Risk Method

2021 ◽  
Vol 10 (2) ◽  
pp. 111-124
Author(s):  
Bambang Herry Purnomo ◽  
◽  
Bertung Suryadharma ◽  
Ridha Ghaniy Al-hakim ◽  
◽  
...  
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Management Approach ◽  
Coffee Beans ◽  
Risk Management Strategies ◽  
Risk Sources ◽  
Two Phases ◽  
Ground Coffee

Perusahaan Daerah Perkebeunan (PDP) Kahyangan Jember in East Java is a regional company owned by The Jember Regency Government that is engaged in the plantation business. PDP Kahyangan Jember implements supply chain management in its business, however there are still some problems in its implementation and management. Some of the issues are the quantity of ground coffee production that does not meet the targeted quantity, decreased coffee beans quality, and reduced coffee yields. These problems can be reduced using a risk management approach. This study aimed to identify the activities of the ground coffee supply chain in PDP Kahyangan Jember and its risks, to determine the level of the risks, and to develop a risk management strategy for PDP Kahyangan Jember ground coffee supply chain. This study used the House of Risk (HOR) method which consists of two phases, i.e. HOR 1 and HOR 2. HOR 1 is used to identify risks in the supply chain. HOR 2 is used to develop a strategy for handling these risks. The HOR 1 analysis results show there are 28 risk events and 33 risk sources, with 15 priority risk sources being considered in the risk management strategies preparation. The results of HOR 2 analysis show eight priority management strategies that can be implemented by PDP Kahyangan Jember.

scholarly journals Empirical approach to risk management strategies of Mediterranean mussel farmers in Greece

2021 ◽  
Vol 50 (4) ◽  
pp. 455-472
Author(s):  
John A. Theodorou ◽  
Ioannis Tzovenis ◽  
George Katselis
Keyword(s):  
Risk Management ◽  
Harmful Algal Blooms ◽  
Algal Blooms ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Mitigation Strategies ◽  
Alternative Source ◽  
Empirical Survey ◽  
Insurance Contracts ◽  
Risk Management Strategies

Abstract Risk perception and risk responses of Greek mussel farmers are important for understanding their risk behavior and the likely success of different risk mitigation strategies. This allows policy makers and actuarial companies to decide what risk management products to offer to address specific types of risks. Results from an empirical survey showed that ex-farm prices and health/disability status of farmers are perceived as the most important sources of risk. Risk management decisions were strongly influenced by the attitudes of mussel farmers rather than their socioeconomic status or perception of risk sources. Financial reserves and an alternative source of stable income are both preferred by mussel farmers as risk management strategies, while optimizing farm management to produce at the lowest possible cost is commonly practiced to eliminate losses. Farmers recommend that for certain types of risks that lead to total losses, e.g. anoxia, tsunamis, harmful algal blooms (HABs), insurance contracts should be provided by the public sector, as in similar situations in agriculture. For other needs, customized insurance contracts should be provided by the actuarial market.

scholarly journals A MANAGEMENT RISKS OF ENTERPRISE IS IN MODERN TERMS MENAGE

2021 ◽  
Author(s):  
Lesia Sarana ◽  
Olena Bilan ◽  
Inna Bitiuk
Keyword(s):  
Risk Management ◽  
Risk Mitigation ◽  
Action Plan ◽  
Management Strategies ◽  
Risk Identification ◽  
Monitoring And Control ◽  
Advantages And Disadvantages ◽  
The Future ◽  
Risk Management Strategies ◽  
Reactive Strategy

The article examines the definition of "risk" and "risk management" based on the scientific works of domestic scientists. There are six main interrelated stages (risk identification, risk analysis, risk assessment, action plan development, risk mitigation, risk monitoring and control) of risk management, which will prevent problems or adverse events through effective crisis management and prevention occurrence of additional costs at the enterprise. The end result of each stage of risk management is a decision. Usually the output is more solutions. An unacceptable level of risk requires stopping the current process and taking measures to reduce the risk. If the risk is acceptable and not insignificant and the profit potential is significant, a precautionary plan is usually used to mitigate it. A system model of risk management is developed and the characteristics of its constituent elements are given (risk management strategy; identification of processes and risks; risk management; monitoring of risks and their impact; optimization of corporate risk management system). Proactive and reactive risk management strategies are researched and characterized, indicating the advantages and disadvantages of strategies. Reactive strategy is used to solve problems after they arise, without planning for the long term. In some cases, unforeseen problems can arise, both internal and external. In such cases, the company must respond quickly. Proactive strategies are designed to anticipate challenges, threats and opportunities. This approach focuses on planning for the future. In addition, it helps to identify and prevent potential hazards before they appear. In this way, he can predict the future and achieve better results. Planning for the future will bring favorable results for the organization in all aspects. If the company follows a purely reactive approach, it will be exposed to enormous risk. However, there are problems that business cannot avoid, especially problems related to the external environment. In these circumstances, the organization must act quickly, and pre-planning does not work. Thus, businesses should apply both strategies in risk management.

scholarly journals Analyse, Enhance and Reiterate Risk management strategies, implemented in Information Technology Project Management, amidst COVID-19

2021 ◽  
Vol 8 (S1-Feb) ◽  
pp. 49-57
Author(s):  
Remya Nair ◽  
J Meenakumari
Keyword(s):  
Information Technology ◽  
Risk Management ◽  
Project Management ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Mitigation Strategies ◽  
Global Perspective ◽  
Risk Management Strategies ◽  
Risk Mitigation Strategies

The global perspective of human life drastically changed after the spread of COVID-19. The world reduced itself, to a digital cocoon. Education, work, commerce, shopping, industry, sales - all walks of life, transformed mostly into a digital mode. The IT (Information Technology) and ITES (IT Enabled services) saw a tremendous transformation in the operational aspects. ‘WFH (Work from Home)’ enabled the resources to work from their preferred locations. These factors increased the risk of data management and data security. The security of the network and the personal devices used to handle the sensitive and confidential data aggregated the risk factors in project management. The significant challenges faced by the IT sector project management were (1)Global Travel restrictions (2) Forecast of Global Recession in near future and resultant minimization of budget allocated to new projects (3)Negative growth Impact from multiple domains, resulting in reduction of new projects and reducing the scope for existing ones (4)Initial adaptation glitches due to the quantum leap in the digital channels (5)Manage constant fluctuating attitudes and anxieties of employees on personal aspects, job security, drastic change in work environment(6) Unprecedented and unpredictable exorbitant influence of macro environment in the routine enterprise activities. The chances of non-availability of critical resource due to health issues, the network issues faced in the remote locations, the unpredictable exposure of data - all these were contributing elements that increased the risk management complexity. In future, many IT companies have decided to operate mainly in the WFH mode as the operational expenses are drastically reduced. The implementation of efficient and effective risk management strategies become crucial considering the long-term implementation of ‘not from office’ operating model. The trust of the multinational clients, commitment of meeting the deadlines, maintaining the confidentiality and sensitivity of data, protecting the unintended intrusion from the digital malicious practices - all are the additional significant risks and challenges, as the probability for the occurrence of these events have increased exponentially due to the latest work arrangements. This paper attempts to evaluate the current risk mitigation strategies and analyse the gaps in the current system. The aim is to effectively manage the upcoming threats and risks in the long-term implementation of the current working (WFH) scenarios. The overall objective of the paper is to (1) analyse the present-day risks (2) evaluate the contemporary ideas that could be modified into solid framework for better risk mitigation strategies in long-term (3) what to anticipate in the future risk analysis and management processes related to IT Project Management.

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