scholarly journals Personal Risk Attitudes in Postgraduate Risk Management Education

10.29007/dj37 ◽  
2018 ◽  
Author(s):  
Paulo Vaz-Serra ◽  
Peter Edwards ◽  
Shang Gao ◽  
Valerie Francis
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Management Education ◽  
Group Formation ◽  
Individual Risk ◽  
Future Research ◽  
Risk Attitudes ◽  
Social Construct ◽  
Novel Approach ◽  
Management Students

Risk management is important for contemporary construction organisations and is a vital constituent of project management education. Before learning about the processes of systematic risk management, construction and project management students need to better understand risk concepts and their own attitudes towards risk. Risk is a psycho- social construct experienced and perceived by individuals. In the Risk in Construction subject offered in the Master of Construction Management programme at the University of Melbourne, students were first invited to respond to a simple questionnaire that measured their own risk attitudes from a task, team and individual risk perspective. This self-knowledge discovery was then applied in their subsequent individual and group assignment work for the subject. The risk profiles were also used in a novel approach to assignment group formation. Students valued the opportunity to explore the alignment between formal project risk management and their own risk attitudes, and used their newly-found understanding in other management-related subjects. Future research will explore cultural and gender influences in these student journeys of self-understanding.

The Novel Approach

2017 ◽  
pp. 1-12
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Quality Management ◽  
Portfolio Management ◽  
Six Sigma ◽  
The Novel ◽  
Mathematical Concepts ◽  
Process Flow ◽  
Novel Approach ◽  
Generic Algorithms

This chapter presents the novel Six Sigma DMAIC generic approach to Risk Management. The method is introduced first. In The Generic Approach and Algorithms section, generic mathematical concepts are elaborated. Also, four generic classes of applications of the proposed method are identified including: 1) Portfolio Management; 2) Quality Management; 3) Project Management; and 4) Income Management. Furthermore, four generic algorithms are elaborated for the respective four classes of application of the method. The generic algorithms include description and process flow of the applications. Finally, the modelling tools used in the book's elaborations are detailed, as well as references for how to use these tools and run Simulation and Stochastic Optimisation step-by-step.

scholarly journals Application of the Socio-Ecological System Framework to Forest Fire Risk Management: A Systematic Literature Review

2021 ◽  
Vol 13 (4) ◽  
pp. 2121 ◽  
Author(s):  
Ingrid Vigna ◽  
Angelo Besana ◽  
Elena Comino ◽  
Alessandro Pezzoli
Keyword(s):  
Risk Management ◽  
Community Involvement ◽  
Forest Ecosystems ◽  
Local Community ◽  
Fire Risk ◽  
Future Research ◽  
Specific Reference ◽  
Clear Understanding ◽  
Wildfire Risk ◽  
Starting Point

Although increasing concern about climate change has raised awareness of the fundamental role of forest ecosystems, forests are threatened by human-induced impacts worldwide. Among them, wildfire risk is clearly the result of the interaction between human activities, ecological domains, and climate. However, a clear understanding of these interactions is still needed both at the global and local levels. Numerous studies have proven the validity of the socioecological system (SES) approach in addressing this kind of interdisciplinary issue. Therefore, a systematic review of the existing literature on the application of SES frameworks to forest ecosystems is carried out, with a specific focus on wildfire risk management. The results demonstrate the existence of different methodological approaches that can be grouped into seven main categories, which range from qualitative analysis to quantitative spatially explicit investigations. The strengths and limitations of the approaches are discussed, with a specific reference to the geographical setting of the works. The research suggests the importance of local community involvement and local knowledge consideration in wildfire risk management. This review provides a starting point for future research on forest SES and a supporting tool for the development of a sustainable wildfire risk adaptation and mitigation strategy.

scholarly journals Analysis of High-Friction Surface Texture with Respect to Friction and Wear

Coatings ◽  
2021 ◽  
Vol 11 (7) ◽  
pp. 758
Author(s):  
Cibi Pranav ◽  
Minh-Tan Do ◽  
Yi-Chang Tsai
Keyword(s):  
Friction Coefficient ◽  
Surface Texture ◽  
Safety Concern ◽  
Future Research ◽  
Scanning System ◽  
Novel Approach ◽  
Texture Parameters ◽  
Aggregate Loss ◽  
Friction Surfaces ◽  
The Impact

High Friction Surfaces (HFS) are applied to increase friction capacity on critical roadway sections, such as horizontal curves. HFS friction deterioration on these sections is a safety concern. This study deals with characterization of the aggregate loss, one of the main failure mechanisms of HFS, using texture parameters to study its relationship with friction. Tests are conducted on selected HFS spots with different aggregate loss severity levels at the National Center for Asphalt Technology (NCAT) Test Track. Friction tests are performed using a Dynamic Friction Tester (DFT). The surface texture is measured by means of a high-resolution 3D pavement scanning system (0.025 mm vertical resolution). Texture data are processed and analyzed by means of the MountainsMap software. The correlations between the DFT friction coefficient and the texture parameters confirm the impact of change in aggregates’ characteristics (including height, shape, and material volume) on friction. A novel approach to detect the HFS friction coefficient transition based on aggregate loss, inspired by previous works on the tribology of coatings, is proposed. Using the proposed approach, preliminary outcomes show it is possible to observe the rapid friction coefficient transition, similar to observations at NCAT. Perspectives for future research are presented and discussed.

scholarly journals A New Model Averaging Approach in Predicting Credit Risk Default

Risks ◽  
2021 ◽  
Vol 9 (6) ◽  
pp. 114
Author(s):  
Paritosh Navinchandra Jha ◽  
Marco Cucculelli
Keyword(s):  
Machine Learning ◽  
Credit Risk ◽  
Model Averaging ◽  
Research Direction ◽  
Future Research ◽  
Classification Problems ◽  
Average Technique ◽  
Model Average ◽  
Novel Approach ◽  
Unbalanced Dataset

The paper introduces a novel approach to ensemble modeling as a weighted model average technique. The proposed idea is prudent, simple to understand, and easy to implement compared to the Bayesian and frequentist approach. The paper provides both theoretical and empirical contributions for assessing credit risk (probability of default) effectively in a new way by creating an ensemble model as a weighted linear combination of machine learning models. The idea can be generalized to any classification problems in other domains where ensemble-type modeling is a subject of interest and is not limited to an unbalanced dataset or credit risk assessment. The results suggest a better forecasting performance compared to the single best well-known machine learning of parametric, non-parametric, and other ensemble models. The scope of our approach can be extended to any further improvement in estimating weights differently that may be beneficial to enhance the performance of the model average as a future research direction.

scholarly journals Linked(In)g Sport Management Education with the Sport Industry: A Preliminary Study

2021 ◽  
Vol 13 (4) ◽  
pp. 2275
Author(s):  
Samuel López-Carril ◽  
Miguel Villamón ◽  
María Huertas González-Serrano
Keyword(s):  
Social Media ◽  
Sport Management ◽  
Management Education ◽  
Educational Innovation ◽  
Two Dimensions ◽  
Management Tools ◽  
Sport Industry ◽  
Post Test ◽  
Management Students ◽  
The Impact

Social media are one of the most valuable management tools used by sport managers in the fulfilment of their daily tasks. However, the studies that share and analyse the impact of educational experiences that incorporate social media into sport management education for professional purposes are scarce to date. Thus, this study presents an educational innovation piloted in a sport management course where LinkedIn—the social media most associated with the professional sphere—is introduced through an experiential learning methodology, as a driver of students’ career development and as a tool to keep up to date and interact with the sport industry. To assess the learning outcomes, a new scale was developed and tested. A total of 90 Spanish undergraduate sport management students (M = 22.71; SD = 3.84) participated in the study, partaking in a pre-test and a post-test. Regarding the results linked to the testing of the scale, the statistical analysis reflects the scale’s two-dimensional nature, explaining 68.78% of the variance, presenting good psychometric properties (α = 0.95). On the other hand, significant increases in all the scale items between the two measures were obtained, with large effects size in the two dimensions (Cohen’s d ≥ 0.80). Therefore, it is concluded that LinkedIn can help to develop the professional profile of sport management students, Linked(In)g what is taught in the classroom with what the sport industry demands.

The Internationalization of Family Firms

2013 ◽  
Vol 27 (2) ◽  
pp. 103-125 ◽  
Author(s):  
Thilo J. Pukall ◽  
Andrea Calabrò
Keyword(s):  
Theoretical Model ◽  
Family Firms ◽  
Future Research ◽  
Risk Attitudes ◽  
Journal Articles ◽  
Suggested Model ◽  
Socioemotional Wealth ◽  
Uppsala Model ◽  
Research Themes

This article systematically reviews and critically examines 72 journal articles published (from 1980 to 2012) on the internationalization of family firms. Stemming from existing literature, core aspects and main gaps are identified. We aim to overcome the inconclusiveness of findings of previous research by offering an integrative theoretical model integrating the concept of socioemotional wealth with the revised Uppsala model. Our framework helps understand behaviors of internationalizing family firms by focusing on when and how they internationalize, especially related to risk attitudes, the role of knowledge and networks. Ultimately, we provide future research themes flowing from our suggested model.

A critical analysis of supply chain risk management content: a structured literature review

2017 ◽  
Vol 14 (1) ◽  
pp. 69-90 ◽  
Author(s):  
Surya Prakash ◽  
Gunjan Soni ◽  
Ajay Pal Singh Rathore
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Literature Review ◽  
Critical Analysis ◽  
Future Research ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Marked Rise ◽  
Content Type ◽  
Risk Management Process

Purpose The research on supply chain risk management (SCRM) is visibly on the rise, although its literature still lacks the state of the art that critically analyzes its content. The SCRM literature seems to require studies that utilize risk typology, sources of risk, etc. for reviewing the topic. The purpose of this paper is to bridge the gap by synthesizing the information obtained from 343 articles across 85 journals. This study also presents a critical analysis of the content of SCRM in a structured manner to identify the directions for future research. Design/methodology/approach A systematic literature review (SLR) was devised and adopted, which involved the selection, classification, and evaluation of 343 research articles published over a period of 11 years (2004-2014). The content of extant SCRM literature was critically analyzed and synthesized from the perspective of the risk management process (RMP). Findings The analysis of extant literature shows that there is a marked rise in research in the SCRM area, especially after the year 2005. It was observed that not only risk but also different forms of uncertainties make supply chain (SC) operations difficult to manage. The SCRM actions yielded most benefits when their implementation was at chain or network level and managed strategically. The analysis also reveals that the manufacturing sector is most affected by risks and highly investigated by researchers. Practical implications A complete process for SCRM based on risk stratification, objectives of risk management, and RMP will be a guiding model for firms to manage risks. The research gaps identified and future directions provided here will encourage researchers and managers to devise new methods, tools, and techniques to address the risks in modern SC operations. Originality/value An SLR and risk-based content classification of SCRM literature were performed. To identify, locate, select, and analyze the SCRM literature, a structured and systematic process was adopted with some very rarely used methods such as two levels of search keywords, and strings were formulated to locate the most relevant articles in major academic databases.

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