Sinergy in Integrated Systems of Risk ManagemeSinergy in Integrated Systems of Risk Management and its Accounting in the Digital Economynt and its Accounting in the Digital Economy

2020 ◽  
Vol 17 (6) ◽  
pp. 50-61
Author(s):  
S. G. Oparin
Keyword(s):  
Risk Management ◽  
Management System ◽  
Business Processes ◽  
Mutual Influence ◽  
Integrated Management ◽  
Investment Project ◽  
Transport Infrastructure ◽  
Strategic Decision ◽  
Integrated Systems ◽  
The Impact

The impact of risks on organizations' performance, the effectiveness of projects and business processes is constantly increasing, and the level of risk is often a determining factor in strategic decision-making. However, according to international statistics, only 16.2% of projects are recognized as successful — performed on time and within the budget, and 52.7% of projects are implemented with an excess of budget, on average by 89%. In order to improve the efficiency of integrated risk management systems, for the first time, an attempt has been made to take into account the synergy, resulting from the digital integration of many heterogeneous elements of the management system and the uncertainties of existing factors into a single socio-economic system based on the priority of the subjective, which are associated with concepts such as non-linearity, uncertainty and randomness. The mutual influence and adjustment the elements of a integrated management system to the purpose and conditions of operation means, that the system relies on a distributed quality and performance assessment, taking into account the uncertainties of existing risk factors. The real transport infrastructure investment project shows the benefits of a synergistic approach and the digital method of integrated bundles, its software implementation on the Microsoft Excel platform in ensuring risk management and achieving the reliability of estimates based on uncertainty and risk.

An integrated process-based approach to intellectual capital management

2020 ◽  
Vol 26 (7) ◽  
pp. 1833-1850
Author(s):  
Oksana Lentjušenkova ◽  
Inga Lapiņa
Keyword(s):  
Development Strategy ◽  
Intellectual Capital ◽  
Management System ◽  
Business Processes ◽  
Integrated Management ◽  
The Other ◽  
Management Approach ◽  
Content Type ◽  
Stakeholder Interests ◽  
The Impact

PurposeNowadays, the aspects of the intellectual capital (IC) management have become important, valuing it as an integral part of the organisation. Researchers emphasise the strategic importance of IC management, particularly in the context of satisfying the stakeholders' interests and value creation. However, the existing studies reflect individual elements of IC management, not analysing them as a system which is a part of the organisational management system, and hence it is impossible to draw valid conclusions on the impact of IC on the organisation's performance. The aim of the paper is to describe an approach to the elaboration of the IC management strategy and its integration into the organisation's management system.Design/methodology/approachThe developed approach is based on a holistic and systemic view of the organisation, where IC management is integrated into the organisation's management . This approach is based on the structure of IC developed by Lentjušenkova and Lapina (2016). In this structure, business processes are the IC component that unites the other three ones – human capital, technologies and intangible assets. The study has used induction and deduction, as well as analytical and synthetic qualitative research methods, including logical constructive and conceptual (concept) analysis.FindingsElaborating the organisational strategy by taking into account the stakeholder interests, the organisation is able to ensure sustainable development. Using the integrated management approach, IC management is integrated into the organisation's activities and joint operational strategy. In this case, IC management becomes an integral part of the organisation's activities functioning in conjunction with the other organisation's systems, and it is integrated into all ongoing business processes.Research limitations/implicationsThe approach the authors have proposed to IC management could be adapted by small and medium-sized companies. Using it, companies do not need to create special functional units or division, because IC becomes an integral part of organisation's processes.Originality/valueIn previous studies, business processes were considered as one of the components of IC. In the study’s approach, business processes imply integration of IC into the overall organisation management system. As a framework for the proposed approach, the authors have used the Deming cycle “Plan-Do-Check-Act” that envisages dividing the development and implementation of the IC management and development strategy into four phases, with a clear allocation of tasks and a defined outcome for each individual phase. To use this approach, it is enough for organisations to conduct an analysis of processes and, depending on the strategic goals of the organisation, make additions related to managing IC.

Transport infrastructure of the Rostov Oblast: Problems and prospects for development in the context of national projects implementation

2020 ◽  
Vol 19 (6) ◽  
pp. 1015-1034
Author(s):  
O.Yu. Patrakeeva
Keyword(s):  
Time Series Data ◽  
Mutual Influence ◽  
Rostov Oblast ◽  
Transport Infrastructure ◽  
Series Data ◽  
Cointegration Tests ◽  
Level Of Economic Development ◽  
Short Run ◽  
The Government ◽  
The Impact

Subject. The paper considers national projects in the field of transport infrastructure, i.e. Safe and High-quality Roads and Comprehensive Plan for Modernization and Expansion of Trunk Infrastructure, and the specifics of their implementation in the Rostov Oblast. Objectives. The aim is to conduct a statistical assessment of the impact of transport infrastructure on the region’s economic performance and define prospects for and risks of the implementation of national infrastructure projects in conditions of a shrinking economy. Methods. I use available statistics and apply methods and approaches with time-series data, namely stationarity and cointegration tests, vector autoregression models. Results. The level of economic development has an impact on transport infrastructure in the short run. However, the mutual influence has not been statistically confirmed. The paper revealed that investments in the sphere of transport reduce risk of accidents on the roads of the Rostov Oblast. Improving the quality of roads with high traffic flow by reducing investments in the maintenance of subsidiary roads enables to decrease accident rate on the whole. Conclusions. In conditions of economy shrinking caused by the complex epidemiological situation and measures aimed at minimizing the spread of coronavirus, it is crucial to create a solid foundation for further economic recovery. At the government level, it is decided to continue implementing national projects as significant tools for recovery growth.

scholarly journals Analysis of Bio-Risk Management System Implementation in Indonesian Higher Education Laboratory

2021 ◽  
Vol 18 (10) ◽  
pp. 5076
Author(s):  
Anom Bowolaksono ◽  
Fatma Lestari ◽  
Saraswati Andani Satyawardhani ◽  
Abdul Kadir ◽  
Cynthia Febrina Maharani ◽  
...  
Keyword(s):  
Higher Education ◽  
Risk Management ◽  
Management System ◽  
Gap Analysis ◽  
Secondary Data ◽  
Education Institution ◽  
Management Systems ◽  
Primary Data ◽  
Risk Management System ◽  
The Impact

Developing countries face various challenges in implementing bio-risk management systems in the laboratory. In addition, educational settings are considered as workplaces with biohazard risks. Every activity in a laboratory facility carries many potential hazards that can impact human health and the environment and may cause laboratory incidents, including Laboratory Acquired Infections (LAIs). In an effort to minimize the impact and occurrence of these incidents, it is necessary to evaluate the implementation of a bio-risk management system in every activity that involves handling biological agents. This study was conducted in an Indonesian higher-education institution, herein coded as University Y. This is a descriptive, semi-quantitative study aimed at analysing and evaluating the implementation of the bio-risk management systems used in laboratories by analysing the achievements obtained by each laboratory. The study used primary data that were collected using a checklist which referred to ISO 35001: 2019 on Laboratory Bio-risk Management. The checklist consisted of 202 items forming seven main elements. In addition, secondary data obtained from literature and document review were also used. The results show that out of 11 laboratories examined, only 2 laboratories met 50% of the requirements, which were Laboratory A and B, achieving good performance. Regarding the clauses of standards, a gap analysis identified leadership, performance evaluation, and support as elements with the lowest achievement. Therefore, corrective action should be developed by enhancing the commitment from management as well as improving documentation, policy, education and training.

RISK MANAGEMENT OF EMERGENCIES OF BUSINESS STRUCTURES IN THE CONTEXT OF GLOBAL INFORMATIZATION

2017 ◽  
Author(s):  
Hamed Rashed Sayed Abdullah Alnuaimi ◽  
Keyword(s):  
Risk Management ◽  
Management System ◽  
Living Conditions ◽  
Normal Operation ◽  
Natural Phenomenon ◽  
Emergency Situations ◽  
Risk Management System ◽  
Business Structures ◽  
The Impact ◽  
Business Structure

Modern processes in a society increasingly began to take on the character of emergencies, namely, the situation in a certain territory, which developed as a result of an accident, a dangerous natural phenomenon, a catastrophe, the spread of a disease, a natural or other disasters that may or did entail human casualties, damage to health people or the environment, significant material losses and disruption of the living conditions of people. At the current time, such a situation is the COVID-19 pandemic, which has already claimed the lives of many people and brought significant economic consequences, including a complete shutdown of the activities of business structures. In this regard, the purpose of the study is to develop a conceptual framework for a risk management system for emergency situations, which can ensure the normal operation of a business structure and prevent its death in the event of an emergency event of any nature. The author analyzed the impact of the COVID-19 pandemic on society and the activities of business structures as one of the latest and most striking examples of emergencies. The analysis revealed that this event could completely destroy the business; therefore, the primary and indispensable criterion for the normal viability of a modern business structure is the ability of top management, based on a strictly scientific basis, to predict, carry out prevention, rationally control and effectively manage risks. Based on the analysis, the author proposed conceptual risk management of emergencies for business structures in the context of global informatization of digitalization. The proposed system is based on the fact that modern processes in society are a symbiosis of two concepts - emergency situations and "black swan", i.e. this is difficult to predict an event that has significant financial and material losses and a violation of the living conditions of an economic entity up to its complete dysfunction. The proposed comprehensive emergency risk management system will allow neutralizing two main and most ambitious consequences: catastrophic losses (financial, labour) and suddenness of the event.

scholarly journals Main directions of the development of the risk management system in corporations

2018 ◽  
Vol 212 ◽  
pp. 07012
Author(s):  
Natalia Rykhtikova
Keyword(s):  
Risk Management ◽  
Comparative Analysis ◽  
Management System ◽  
Business Processes ◽  
General System ◽  
Management Systems ◽  
Foreign Companies ◽  
Risk Management System ◽  
Management Procedures ◽  
High Level

Actuality and relevance of implementation of the risk management processes in the general system of management in organizations are justified in this article. Three major issues can be pointed out as referred to the implementation of the risk management system in modern organizations, such as 1) a high level of costs combined with relatively long payback period; 2) lack of the universal approach to the implementation of the risk management procedures; and 3) difficulties in identification of perspective directions of the systems under consideration. The basic directions of development of the risk management systems in the corporate structures are defined based on the results of comparative analysis of the experience of Russian and foreign companies. The activity in the field of risk management of such corporations as “Rusgidro”, “NMLK”, the Investment Company “RUSS-INVEST”, “Severstal”, “Gazpromneft”, “Metalloinvest”, “Philips”, “Nestlé”, and “Unilever” became the object of our research. Comparative analysis of practices of implementation of the risk management system has been performed based on the following criteria: organizational structure of management, register and prioritization of risks, structure and methods of risk management, and effectiveness of the risk management systems. The results of the study allowed identifying the following basic directions of development of the risk management systems in the corporations: amending register of prioritization of risks; increasing level of integration of the risk management procedures into the basic business processes of the corporations; expanding of use of the external assessments, credit rankings, etc. in the framework of implementation of the risk management procedures; increasing level of unification of methods of risk assessment and management that finally would be a prerequisite for improving effectiveness of the risk management systems in organizations.

Risk Management Model in Surface Exploitation of Mineral Deposits

2016 ◽  
Vol 61 (2) ◽  
pp. 293-308
Author(s):  
Cvjetko Stojanović
Keyword(s):  
Risk Management ◽  
Adverse Events ◽  
Management System ◽  
Mining Industry ◽  
Investment Project ◽  
Management Model ◽  
Structural Element ◽  
Investment Projects ◽  
Risk Management System ◽  
Mining Projects

Abstract Risk management is an integrative part of all types of project management. One of the main tasks of pre-investment studies and other project documentation is the tendency to protect investment projects as much as possible against investment risks. Therefore, the provision and regulation of risk information ensure the identification of the probability of the emergence of adverse events, their forms, causes and consequences, and provides a timely measures of protection against risks. This means that risk management involves a set of management methods and techniques used to reduce the possibility of realizing the adverse events and consequences and thus increase the possibilities of achieving the planned results with minimal losses. Investment in mining projects are of capital importance because they are very complex projects, therefore being very risky, because of the influence of internal and external factors and limitations arising from the socio-economic environment. Due to the lack of a risk management system, numerous organizations worldwide have suffered significant financial losses. Therefore, it is necessary for any organization to establish a risk management system as a structural element of system management system as a whole. This paper presents an approach to a Risk management model in the project of opening a surface coal mine, developed based on studies of extensive scientific literature and personal experiences of the author, and which, with certain modifications, may find use for any investment project, both in the mining industry as well as in investment projects in other areas.

Risk Management, JSC Achimgaz Project Experience

2017 ◽  
Vol 6 (4) ◽  
pp. 3-9
Author(s):  
Е. Усова ◽  
E. Usova ◽  
Валерий Фунтов ◽  
Valeriy Funtov ◽  
А. Бутов ◽  
...  
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Natural Gas ◽  
Management System ◽  
Business Processes ◽  
Oil And Gas ◽  
Risk Management System ◽  
Iso 31000 ◽  
Decision Making Processes ◽  
Oil And Gas Sector

The article is devoted to the introduction of risk management system in the activities of JSC Achimgaz, operating in the oil and gas sector and implementing the Project for the extraction of natural gas and condensate (hereinafter the Project). The analysis of implementation, its effectiveness within a system is discussed. According to the analysis the conclusion about the necessity of creating a unified system that integrates risk management into decision-making processes, key business processes and the culture of the organization, according to GOST ISO 31000-2010.

scholarly journals Compliance Risk Management in Polish and German Companies

2019 ◽  
Vol 11 (4) ◽  
pp. 115-145
Author(s):  
Monika Gorgoń ◽  
Konrad Raczkowski ◽  
Felix Kraft
Keyword(s):  
Risk Management ◽  
Cultural Diversity ◽  
Management System ◽  
Value Added ◽  
Point Of View ◽  
Cultural Dimensions ◽  
Compliance Management ◽  
Management Culture ◽  
Legal Standards ◽  
The Impact

Abstract Objective: This article focuses on the analysis of cultural similarities and differences important in terms of the compliance risk management in Polish and German enterprises, with the deliberate omission of Hofstede’s four cultural dimensions, in favour of the modified E. Schein’s model. This article explains the basic concept of risk management culture, the compliance risk and the essence of the compliance management system in Poland and Germany as well as the impact of cultural factors of each of the analysed countries on the development of compliance. The research objective of this paper is to present a comparative analysis of the examined countries, through the analysis of compliance management systems, as an indispensable element of risk management in an organisation, both in practical and formal terms. Methodology: This research is based on a critical review of the source literature and inference with assigned classical and fuzzy logic values as part of the culture description and risk management. Findings: The initial hypothesis is that the compliance risk management in companies in Poland and Germany has common and standardised features of the Community legal standards, which can be differently displayed from the declarative and actual point of view in Germany, due to an increase in internationalisation and intercultural relations. Value Added: This article presents the theoretical significance and functions of compliance risk management based on an analysis of applicable compliance systems and cultural systems in Poland and in Germany. Recommendations: The compliance risk management system is an essential risk management mechanism in organisations, both in formal and practical terms. It should take into account both the cultural diversity of the regions in Germany and the high cultural and ethnic homogeneity of enterprises in Poland – open, however, to cultural diversity.

scholarly journals Quality Management Systems That Serve the Subsea Oil & Gas Industries:

2016 ◽  
Vol 1 (3) ◽  
Author(s):  
Vincent O'Donnell
Keyword(s):  
Quality Management ◽  
Management System ◽  
Business Processes ◽  
Oil And Gas ◽  
Quality Management System ◽  
Integrated Management ◽  
Iso 9001 ◽  
Management Systems ◽  
Quality Management Systems ◽  
Integrated Management System

This research project was to investigate the motives for gaining an ISO 9001 certified quality management system in companies that serve the subsea sector of the oil and gas industries: is certification a strategic business tool or just a marketing badge? A literature review revealed that if implemented rigorously, ISO 9001 could deliver increased efficiency and improved business processes. Many authors stated that certification was gained principally to allow trading in the European and global markets, and, to gain entry to the Approved Vendors List of prospective customers. Primary research consisting of interviews with approximately 55 professionals across 12organisationsindicated that a majority agreed, stating that certification was gained for marketing purposes or to satisfy customer requirements. However many went on to say that their companies had subsequently realized the full benefits of ISO 9001. Therefore the motives for certification could be aligned. Secondary research also revealed that a number of firms operated an integrated management system. Findings of this project point to two conclusions. First, if ISO 9001 is implemented rigorously enough, companies can realize its benefits despite alternative reasons for gaining certification. Second, both motives for gaining certification can be aligned. This is a significant that is absent in the literature. All of the companies operating in this industry that were researched in this study had an ISO 9001 certified QMS. Because of the absence of publications on the use of ISO 9001 in the subsea sector of the oil and gas industries, further research into the possible alignment of the motives investigated in this project is warranted, and recommended. Additional areas for further research include integrated management systems rather than ISO 9001 quality management systems and limiting the scope of analysis to a current single subsea project, such as the Gorgon Project (Hatch 2013).

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