scholarly journals RISKS OF INNOVATIVE ACTIVITY: ECONOMIC AND LEGAL ANALYSIS

2020 ◽  
Vol 6 (1) ◽  
pp. 67
Author(s):  
Nataliia Kuznietsova ◽  
Liudmyla Kot ◽  
Oleksii Kot
Keyword(s):  
Risk Management ◽  
Rapid Development ◽  
Legal Regulation ◽  
Innovative Activity ◽  
Management Process ◽  
Negative Consequences ◽  
Business Decision ◽  
Innovative Project ◽  
Risk Management Process ◽  
The Impact

As experience in the development of the economy of different countries shows, risk is an integral factor in a market economy. The rapid development of science and technology, the emergence of new technologies, their implementation into production, the increase in the number of innovative projects give rise to new types of risks, which, in turn, complicate social relations. The lack of a unified approach to the scientifically justified definition of risk, its features, classification criteria, as well as the lack of a conceptual and categorical component necessitates the further study of risk in law, which is reflected in the qualitative legal regulation of the relations of participants. The subjects of the research are the economic and legal aspects of innovative activity risks. Accordingly, the purpose of the article is a study of the nature of risk, the main classification features, defining the role and place of legal risks, identifying the main approaches to risk management of innovative projects. To achieve this goal, we have used the following research methods: analysis and generalization of theoretical sources and scientific literature; abstractlogical method in the process of theoretical generalizations and formation of conclusions; general scientific methods of analysis and synthesis. In the result of the research conducted it is determined that the risk of an innovative project is a set of risks that combine the elements associated with a particular innovative project, that is, for each specific project and the entity that develops, implements and manages the project will be its own set of risks. A prerequisite for business decision-making is the skills and ability to manage risk, which is to determine its acceptable limits, taking into account the potential negative consequences, which, among other things, will minimize the impact of the risk factor on the planned economic outcome of the introduction of innovation. A crucial factor in ensuring the success of the innovative risk management process is interaction at all stages, in particular during the identification, analysis, evaluation, control, monitoring of risks. Engaging and understanding the risk management process and its need for all project participants ensures the effectiveness of structural and organizational risk management measures. Effective risk management requires commitment, as well as the conscious behavior of each person. The motivation and interaction of the parties involved in the project ultimately determine the quality of the work and therefore the success of the project.

scholarly journals Identification and Qualitative Evaluation of Risk Factors in the Construction Projects in Iraq

2021 ◽  
Vol 14 (2) ◽  
pp. 91-101
Author(s):  
Noor Aletby ◽  
Hafeth Ibrahim
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Qualitative Evaluation ◽  
Qualitative Assessment ◽  
Management Process ◽  
Risk Management Process ◽  
Questionnaire Method ◽  
High Level ◽  
The Impact

Construction projects in Iraq face many dangers that cause exceeding the estimated cost of the project and not completing the project on time, and since the risk management process in construction projects is of great importance in controlling and reducing the impact of risks in construction projects, so it is necessary to identify these risks and evaluate them correctly in order to increase accuracy and the health of the subsequent stages of the risk management process in construction projects. This paper aims to identify the most important risks in construction projects in Iraq and to conduct a qualitative assessment of the identified risks and arrange them according to their importance. The researcher adopted the questionnaire method as a tool to determine the risks and used the technique of probability and effect matrix to conduct the qualitative assessment of the identified risks. The study found that there are 48 risk factors that constitute the most dangerous factor in construction projects in Iraq, and 10 of the determining factors were within the high level of risk, and at the forefront of which was the inability of the owner to finance the project.

scholarly journals Financial Risk Management

2017 ◽  
Vol 22 (4) ◽  
pp. 276-280
Author(s):  
Soňa Jirásková
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Financial Risk ◽  
Slovak Republic ◽  
Management Process ◽  
Negative Consequences ◽  
Financial Risk Management ◽  
Risk Management Process

Abstract This paper analyses financial risk management at the Ministry of Defence of the Slovak Republic. In its first part, the author defines the basic terms related to risk management, explains the negative consequences of risks and points to the importance of financial risk management. The second part of the paper is concerned with the risk management process at the Ministry of Defence of the Slovak Republic relating to financial management.

scholarly journals THE EFFECT OF MANAGING RISK PROCESS IN CONSTRUCTION PROJECTS

2020 ◽  
Vol 5 (4) ◽  
pp. 101-114
Author(s):  
Khanm Noori Kaka HamaAttar
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Theoretical Aspect ◽  
Risk Process ◽  
Risk Identification ◽  
Management Process ◽  
Risk Management Process ◽  
Risks Assessment ◽  
Managing Risk ◽  
The Impact

The aim of this study is to get a better understanding for the effect of the set of the risks in the construction projects, in addition to how mitigating these risks in those projects. Indeed risks are frequently playing the same rules, but the nature of project defines the specific risks of the project. The first step in process of risks assessment is identification them. Once risk identification is complete, risk analysis is used to identify the likelihood the risks that have been identified will happen. Thus by using evidence from other research in the area, this study showed the impact of the set of the stages in the risk management process in the construction projects, which were discussed in greater detail in the theoretical aspect of the current study. The findings of the study were revealed the fact that the comprehension of risk and its management has the direct effect of understanding specific issues that involve to the project. In addition to that, the integration of a risk management process at each stage of its stages in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this regard, the most successful project managers maintain open lines of communication throughout their organizations to stay in touch with constituent’s needs.

scholarly journals Risk Management in SMES

2019 ◽  
Vol 82 ◽  
pp. 91-99
Author(s):  
Agnieszka Gaschi-Uciecha
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Competitive Position ◽  
Research Survey ◽  
Risk Management Process ◽  
The Impact ◽  
The Way

Risk management is a process concerning not only large organizations, but also enterprises belonging to the SME sector. When this process is managed effectively, it is possible to eliminate the greatest and most frequent disturbances and also appropriately respond to the occurring changes and use the available opportunities. The activity of the SME sector and the impact of the risk management process on the competitive position of these enterprises increasingly gain significant importance. Therefore, it is worth considering how to help these enterprises to overcome the difficulties which they encounter. The article presents the results of the research conducted on enterprises from the SME sector and operating in the Silesian Voivodeship, using a research survey. The research concerned the application of risk management in these enterprises and the way of documenting it.

Quality management tools as a factor of instrument-making enterprise development

2018 ◽  
Vol 35 (4) ◽  
pp. 54-61
Author(s):  
M. A. Menshikova ◽  
Y. V. Piunova
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Negative Consequences ◽  
Enterprise Development ◽  
Management Tools ◽  
Instrument Making ◽  
Initial Information ◽  
Performance Targets ◽  
Risk Management Process

In the article the questions of formation of the analytical information for assessing the quality of the instrument-making enterprise. The indicators of quality, as well as the necessary initial information are given. The authors determined the importance of the procedure for determining and analyzing risks. The main stages of the risk management process are formulated. The necessity of identification of risks at all stages of the life cycle is established and the necessary measures to reduce the negative consequences of risk are developed. Defined performance targets QMS instrument - making enterprise.

scholarly journals Content and interpretation of the conceptual apparatus of risk management project

2021 ◽  
pp. 52-57
Author(s):  
A. V. Pochivalov ◽  
A. V. Sysolyatin
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Negative Consequences ◽  
Conceptual Apparatus ◽  
Management Processes ◽  
Risk Management Process ◽  
Management Project

One of the important management processes is the identification and management of risks. The article considers the main causes of uncertainty and the occurrence of risk events. The attitude of the authors and standards is presented, the interpretations of the concepts of “risk management” and “risk management” are systematized. The main groups of interpretations of the concept of risk are highlighted, according to which different authors and standards share the concepts. Special attention is paid to the tasks that face the risk management process. A proprietary interpretation of the definition is proposed and justified, taking into account the peculiarities of the risk management process in terms of the stages of risk management, positive and negative consequences, systematic, consistent and cyclical actions in the risk management process in project activities. 

Crowd Risks and Advanced Tools

2019 ◽  
Author(s):  
William O’Toole ◽  
Dr Stephen Luke ◽  
Travis Semmens ◽  
Dr Jason Brown ◽  
Andrew Tatrai
Keyword(s):  
Risk Management ◽  
Management Process ◽  
Operating Environment ◽  
Security Environment ◽  
Risk Management Process ◽  
Strategic Goals ◽  
And Control ◽  
The Impact ◽  
Monitor And Control

The objectives of organisations engaged with crowd situations are subject to serious threats that can disrupt and compromise their integrity and prevent desired outcomes. By employing a risk management process, organisations can identify and assess threats, vulnerabilities and weaknesses and also the likelihood and consequences to the security environment. Risk management involves identifying and assessing threats to the operating environment or strategic goals and prioritizing resources to minimise, monitor and control the impact of events (incidents).

Risk Management for Jet Propulsion Laboratory (JPL) Flight Projects

2000 ◽  
Author(s):  
James R. Rose
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Failure Modes ◽  
Objective Assessment ◽  
Assessment Tools ◽  
Management Process ◽  
Trade Offs ◽  
Risk Management Process ◽  
Effective Use ◽  
The Impact

Abstract RISK MANAGEMENT IN THE PROGRAM/PROJECT ENVIRONMENT: The Risk Management process is assuming greater influence in the process of Project and Program Management. The requirements of NPG 7120.5A [NPG, 1998] have created inroads for the results of identifying risk to influence project decisions. Program needs and the interdependencies of risks among projects are receiving increasing attention on major JPL projects. Creating Risk Management plans and requiring risk reporting are beginning to make project personnel aware of the benefit of identifying and mitigating potential future adverse consequences and understanding the trade-offs involved in spending reserves for prevention as opposed to recovery from problems. Risk-based decision-making in the planning phase is allowing risks balancing to be considered, and hard decisions in the cost-capped environment require even reduction in expected mission return in order to provide adequate performance assurance. RISK ASSESSMENT TOOLS USED IN DESIGN AND ASSURANCE: The paper will describe the use of Risk-revealing checklists and compilations of engineering guidance principles as enabling tools for comprehensive risk identification. Also, effective risk assessment methods (such as Failure Modes Effects Analyses (FMEAs), and Probabilistic Risk Analyses (PRAs) will be discussed. Tracking tools appropriate to maintaining cognizance of risk will be covered. INTEGRATING RISK AND MANAGING PROJECT RESOURCES: JPL is in the process of identifying a standardized Risk Management methodology, which is based on the two pioneering methodologies developed on the Space Infrared Telescope Facility (SIRTF) and Mars Global Surveyor (MGS) projects. Criteria for assessing risk will be “normalized” with tailoring allowed. Database tools are available now to support this approach for flight projects. The Risk Management team at JPL has developed such a tool, which is in use on many of our projects. An advanced version of the JPL tool has been demonstrated which will provide options for quantitative analysis and resource management trade-offs. Implementation of risk tracking metrics in cost and schedule management systems, and design tools, will allow change to be quickly detected. Also, experience on the MGS project suggests that project management can make effective use of risk impact assessments based on cost, and can therefore gain insight into the effective use of project reserves. Utilizing common risk metrics between the risk management process and design metrics, Problem/ Failure Reports (PFRs), earned value reporting, and other management areas will provide more confidence in the impact of project decisions. INDEPENDENT ASSESSMENTS AND THE SYSTEMS MANAGEMENT OFFICE (SMO): The requirement to balance faithful service to the project customer while at the same time provide an objective assessment of the health of the project to the JPL administration and to the agency will be facilitated through the SMO function. Risk Assessments using criteria common to those that the project uses but identification and assessment by independent “eyes” will allow added possibility for early detection and correction of problems. This will enhance the Risk Management effectiveness on the project, and undoubtedly increase the likelihood of mission success.

scholarly journals Mencegah Gejolak Keuangan dengan Manajemen Risiko Likuiditas Perbankan

2018 ◽  
Vol 4 (2) ◽  
pp. 145
Author(s):  
IKA PERMATASARI
Keyword(s):  
Risk Management ◽  
Control Systems ◽  
Internal Control ◽  
Liquidity Risk ◽  
System Stability ◽  
Management Process ◽  
Contagion Effects ◽  
Risk Management Process ◽  
Risk Limits ◽  
The Impact

Sound liquidity risk management is needed to deal with the impact of liquidity risk that can bring contagion effects that threatens the financial system stability of a country. This study aims to analyze the necessary issues in liquidity risk management in Indonesia, which emphasized on four pillars. The main pillars of the bank's liquidity risk management include active oversight board of commissioners and directors; policies, procedures, and liquidity risk limits; liquidity risk management process; and internal control systems.

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