scholarly journals A Total Risk Assessment in an Enterprise

2012 ◽  
Vol 4 (2) ◽  
pp. 119-130
Author(s):  
Wiesław Wasilewski
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Return On Investment ◽  
Important Task ◽  
Individual Risk ◽  
Critical Importance ◽  
Total Risk ◽  
Scientific Disciplines ◽  
Organizational Risk ◽  
Overall Risk

Abstract Risk assessment is an important task of risk management. It must take various aspects into consideration. For this reason the risk management involves various scientific disciplines: mathematics, psychology, law etc. Every institution must deal with many different kinds of risk. The question is: in order to ensure the continuation of the company, is it important to assess individual risk or to identify and evaluate the entire overall risk to the enterprise. This article aims to present a method of calculating the total organizational risk in relation to the ROI-return on investment (justifying the critical importance of profit [loss] in ensuring the continued operation of the entity).

Integration of QbD risk assessment tools and overall risk management

Biologicals ◽  
2016 ◽  
Vol 44 (5) ◽  
pp. 341-351 ◽  
Author(s):  
Brian Kelley ◽  
Mary Cromwell ◽  
Joe Jerkins
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Assessment Tools ◽  
Risk Assessment Tools ◽  
Overall Risk

scholarly journals RISK MANAGEMENT IN THE CONTEXT OF MULTI-RISK ASSESSMENT

2020 ◽  
pp. 161
Author(s):  
Marijola Božović ◽  
Emina Mihajlović ◽  
Snežana Živković
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Natural Disasters ◽  
Scientific Disciplines ◽  
Emergency Event ◽  
Integrated Risk ◽  
Rapid Changes ◽  
Hazard Risk Assessment ◽  
Integrated Risk Management ◽  
Multidisciplinary Sciences

The late 20th and early 21st centuries were marked by sudden and rapid changes, including the free flow and interconnectedness of people, information, and trade, but the most prominent changes pertain to scientific and technological advancements. New connections were also found between different scientific disciplines, which had previously been considered unrelated, thus causing the breakthrough of multidisciplinary sciences. Unfortunately, the 21st century has so far been ridden with natural disasters worldwide. According to EM-DAT (Emergency Event Database 2015), the consequences and losses caused by natural disasters have been increasing. Thus, risk assessment became a priority for reducing the risk from natural disasters. Risk assessment is the essence of risk management. Just as there are connections between various scientific disciplines, so are there connections between various disastrous events, which resulted in the increased importance of the concept of multi-risk. Multi-hazard risk assessment is a key step in integrated risk management. Over the last decade, the interest in multi-risk assessment has grown in Europe but also globally.

Quantitative risk assessment of rock slope instabilities that threaten a highway near Canmore, Alberta, Canada: managing risk calculation uncertainty in practice

2020 ◽  
Vol 57 (3) ◽  
pp. 337-353 ◽  
Author(s):  
Renato Macciotta ◽  
Chris Gräpel ◽  
Tim Keegan ◽  
Jason Duxbury ◽  
Roger Skirrow
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Quantitative Risk Assessment ◽  
Environmental Concerns ◽  
Individual Risk ◽  
Total Risk ◽  
Economic Activities ◽  
Rock Falls ◽  
Risk Calculation ◽  
Fall Protection

We present a quantitative risk assessment (QRA) to guide decision-making for selection of rock fall protection strategies. The analysis corresponds to a section of highway near Canmore, Alberta, Canada; where rock falls are common. Environmental concerns, tourism, and economic activities overlap the project area, which increased the complexity of the decision-making process. QRA was adopted to improve highway user safety and minimize effects on natural, social, and economic environments. Uncertainty was associated with hazard and consequence quantification, and the study elicited plausible ranges of input variables for risk calculation. Expected and range in risk were calculated for current conditions and after mitigation. Individual risk to highway users was found to be low, following the limited exposure of any particular individual. Current total risk was calculated at 2.9 × 10−4probability of fatality and a plausible range between 2.0 × 10−5and 5.5 × 10−3. The slope protection configuration selected had a residual total risk between 9.0 × 10−4and 2.9 × 10−6, and a best estimate of 4.5 × 10−5. The risk levels were evaluated against criteria previously used in Canada and were considered an appropriate balance between project costs, public safety, environmental concerns, tourism, and economic activities after mitigation.

Managing Cultural Risks

2021 ◽  
pp. 286-295
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Cost Effective ◽  
Analysis Method ◽  
Risk Criteria ◽  
Organizational Risk ◽  
Iso 31000 ◽  
Risk Management Methodology ◽  
Risk Assessment And Analysis ◽  
Level Of Risk

Risk assessment is a process that allows us to understand risks, define risk criteria, assess the probability and the consequences of that risk occurring, define a level of risk we can tolerate and afford, and define a cost-effective and efficient mitigation treatment. The authors provide a risk assessment and analysis method that the reader can use to (1) build cultural risk into your organizational risk management profile and (2) adapt the organization's risk management profile to include cultural risks. The method builds upon but extends the ISO 31000/31010 risk management methodology to determine the level of cultural risk your organization is carrying. The authors walk through and translate each of the seven steps to account for cultural risks.

scholarly journals Defining the Concept of Risk Applied in Entrepreneurship. Conceptual Delimitation Risk - Entrepreneurial Uncertainty

2019 ◽  
Vol 12 (18) ◽  
pp. 43-46
Author(s):  
Tărăbîc Andrei Alexandru
Keyword(s):  
Risk Management ◽  
Asset Allocation ◽  
Systematic Risk ◽  
Poor Quality ◽  
Quality Information ◽  
Total Risk ◽  
Risk And Uncertainty ◽  
Overall Risk

AbstractEven though in many cases the terms of risk and uncertainty are similar, they have to be delimited to understand the meaning of each, individual, as accurately as possible. The two terms are combined in different situations. No matter how well the risk is managed, uncertainty cannot be removed because all possible situations and interdependencies cannot be taken into account. Thus, a source of risk can be considered uncertainty in itself if it is based on poor quality information about the actual internal or external situation of the company. Also, in my conclusion, traditional financial theory distinguishes between systematic risk and particular risk, which reaches the company’s overall risk. Investors can reduce total risk with the two primary risk management instruments, namely diversification and asset allocation.

Risk score – valuable tool for individual risk assessment?

2008 ◽  
Vol 56 (S 1) ◽  
Author(s):  
B Osswald ◽  
G Thomas ◽  
U Tochtermann ◽  
V Gegouskov ◽  
D Badowski-Zyla ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Risk Score ◽  
Individual Risk ◽  
Individual Risk Assessment

MODELLING AND CONTROLLING THE ENTERPRISE RISKS COMPLEX ASSESSMENT SYSTEMON THE BASIS OF RUSSIAN STATE STANDARD ISO 9001-2015 CONCERNING RISK-ORIENTED THINKING. GENERAL PROBLEMS AND WAYS OF SOLVING THEM

2020 ◽  
Vol 2020 (2) ◽  
pp. 33-41
Author(s):  
Irina Merzlyakova ◽  
Aleksandr Feofanov
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
State Standard ◽  
Control Model ◽  
Enterprise Risk Management ◽  
Iso 9001 ◽  
Management Procedure ◽  
Russian State Standard ◽  
Russian State ◽  
Enterprise Risk

The article considers general problems of implementing the enterprise risk management procedure. One of the ways to solve the problems arising when meeting Russian state standard ISO 9001-2015 requirements concerning risk-oriented thinking is presented. A risk assessment control model aimed at coordinating all kinds of the enterprise departments activities, forming a clear algorithm of risk management procedure implementation and attracting a greater number of employees towards this activity is offered.

The prospects of occupational risk management during reforms of regulatory legislation basis

2019 ◽  
pp. 39-44 ◽  
Author(s):  
Vadim B. Alekseev ◽  
Nina V. Zaitseva ◽  
Pavel Z. Shur
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Social Insurance ◽  
Well Being ◽  
Occupational Risk ◽  
Risk Level ◽  
Federal Law ◽  
Work Safety ◽  
Risk Levels ◽  
Legal Principles

Despite wide legislation basis of regulating relations in work safety and workers’ health, one third of workplaces demonstrate exceeded allowable normal levels of workers’ exposure to occupational hazards and present occupational risk for health disorders.In accordance to national legislation acts, evaluation should cover factors of occupational environment and working process, and occupational risk is understood in context of mandatory social insurance. This approach has been formed due to mostly compensatory trend in legal principles of work safety in Russia by now. Implementation of new preventive concept of work safety, based on idea of risk management for workers, necessitates development of legal acts that regulate requirements to evaluation of occupational risk and its reports with consideration of changes in Federal Law on 30 March 1999 №52 FZ “On sanitary epidemiologic well-being of population”.Those acts can include Sanitary Rules and Regulations “Evaluation of occupational risk for workers’ health”, that will contain main principles of risk assessment, requirements to risk assessment, including its characteristics which can serve as a basis of categorizing the risk levels with acceptability.To standardize requirements for informing a worker on the occupational risk, the expediency is specification of sanitary rules “Notifying a worker on occupational risk”. These rules should contain requirements: to a source of data on occupational risk level at workplace, to informational content and to ways of notifying the worker. Specification and implementation of the stated documents enable to fulfil legal requirements completely on work safety — that will provide preservation and increase of efficiency in using work resources.

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