scholarly journals Risk Identification in Cogeneration (Combined Heat and Power) Projects: A Polish Case Study

Energies ◽  
2021 ◽  
Vol 15 (1) ◽  
pp. 42
Author(s):  
Joanna Rzempała ◽  
Daniel Borkowski ◽  
Artur Piotr Rzempała
Keyword(s):  
Risk Factors ◽  
Combined Heat And Power ◽  
Risk Identification ◽  
Correct Identification ◽  
Financial Risks ◽  
Planning Stage ◽  
Technical Errors ◽  
Additional Costs ◽  
Planning And Construction

The purpose of the article is to define the risk factors in cogeneration projects and to demonstrate that a lack of sufficient identification of risks in different phases affects project implementation. A theoretical study is conducted, which aims to identify risk factors in cogeneration projects, based on case studies of such projects in Poland. The study offers a view at CHP (combined heat and power) projects as extremely dependent on the external environment of the organisation. These projects are subject to many external regulations due to their environmental impact and dynamically changing technical aspects. The biggest technical errors occur at the planning and construction stages. The biggest economic and financial risks occur at the execution stage after 2% and 3% of additional design costs occur, respectively. The authors estimated the risks at different stages of the project and concluded that the total cost of failure in correct identification of the risks at the planning stage exceeded PLN 1.5 billion, which amounted to almost 60% of the total additional costs of materialised project risk. Consequently, the biggest challenges in the area of CHP project management at the planning stage are a thorough identification of risks, and the pricing and planning reactions to risk.

Enhancing RCIES Model

2016 ◽  
pp. 624-643
Author(s):  
Arwa Mukhtar Makki ◽  
Tarig Mohamed Ahmed
Keyword(s):  
Risk Factors ◽  
Risk Identification ◽  
Successful Implementation ◽  
Management Process ◽  
Erp Implementation ◽  
Erp System ◽  
Strategic Risk ◽  
Risk Management Process ◽  
The Impact

Risk identification and prioritization is very essential activity in any successful strategic risk management process. Developing a plan for dealing with such problems reduces the impact of unexpected risks and failures while prioritizing risks draws attention, efforts and resources to the risks with great impact on projects success. The aim of this paper, is to identify the critical risk factors in an ERP project through a case study of a successful implementation of an ERP system in a Sudanese organization and to understand how the organization implemented the appropriate controls to minimize its business risks impact. To achieve this objective, a number of key articles were reviewed and analyzed to understand the different critical risk factors influence ERP implementation. New risk factors and controls influence ERP implementation have been identified. A new model of ERP implementation critical risk factors was developed. Furthermore, the risk factors were classified into categories, probability, impact and proximity, then using a prioritizing tool, the results of this study contributes to risks identification and prioritization by pointing to the less priority and the most critical risk factors.

scholarly journals Identification of Risk Factors Affecting PPP Waste-to-Energy Incineration Projects in China: A Multiple Case Study

2018 ◽  
Vol 2018 ◽  
pp. 1-16 ◽  
Author(s):  
Yong Liu ◽  
Chenjunyan Sun ◽  
Bo Xia ◽  
Sai Liu ◽  
Martin Skitmore
Keyword(s):  
Risk Factors ◽  
Real Life ◽  
Regulatory System ◽  
Multiple Case Study ◽  
Risk Identification ◽  
Waste To Energy ◽  
Risk Allocation ◽  
Factors Affecting ◽  
Multiple Case

Waste-to-energy (WTE) incineration technologies are considered an effective solution for sustainable and efficient municipal solid waste (MSW) disposal in China, and the public-private partnership (PPP) arrangement has been widely used to construct and operate WTE incineration projects. However, PPP WTE incineration projects in China are affected by numerous risks due to the long concession period, various participants, and other factors commonly involved in PPPs, resulting in a number of failures. In light of the pivotal role that risk identification, analysis, and response play in the successful development of PPP WTE incineration projects, this paper presents a multiple case study to identify the risk factors involved in China by drawing on experience from the real-life risk events of 35 PPP WTE incineration plants. 18 risk factors are identified; the most critical of which being public opposition risk, environmental pollution risk, government decision-making risk, a defective legal and regulatory system, and MSW supply risk. The results of the study provide a solid foundation for the future risk analysis, risk allocation, and risk response of PPP WTE incineration projects, and shed light on performance improvement of the PPP WTE incineration projects as well as the development of the PPP WTE industry in China.

Risk Evaluation of Highway Tunnel Construction Based on DEMATEL Method

2013 ◽  
Vol 368-370 ◽  
pp. 1472-1476 ◽  
Author(s):  
Wei Guo ◽  
Qi Deng ◽  
Xiao Dong Pan
Keyword(s):  
Risk Factors ◽  
Decision Making ◽  
Delphi Method ◽  
Risk Evaluation ◽  
Risk Identification ◽  
Tunnel Construction ◽  
Tunnel Engineering ◽  
Engineering Construction ◽  
Highway Tunnel

According to the correlation characteristics of risk factors in highway tunnel engineering construction, based on the risk identification and analysis of accidents, the interactive correlations among these risk factors are analyzed by Delphi Method. This paper adopts the decision making trial and evaluation laboratory (DEMATEL) method to analyze the risk of tunnel engineering construction. Then, a comprehensive influencing coefficient of various risk factors is calculated by a comprehensive influencing matrix, the reason-result chart for these risk factors is made, and the key risk factor influencing the tunnel engineering construction is obtained. The result shows that DEMATEL method is effective for the risk analysis of tunnel engineering construction via the case study of Wulong Tunnel construction in China.

Enhancing RCIES Model

2015 ◽  
Vol 11 (4) ◽  
pp. 79-98
Author(s):  
Arwa Mukhtar Makki ◽  
Tarig Mohamed Ahmed
Keyword(s):  
Risk Factors ◽  
Risk Identification ◽  
Successful Implementation ◽  
Erp Implementation ◽  
Erp System ◽  
Strategic Risk ◽  
Risk Management Process ◽  
The Impact ◽  
Strategic Risk Management

Risk identification and prioritization is very essential activity in any successful strategic risk management process. Developing a plan for dealing with such problems reduces the impact of unexpected risks and failures while prioritizing risks draws attention, efforts and resources to the risks with great impact on projects success. The aim of this paper, is to identify the critical risk factors in an ERP project through a case study of a successful implementation of an ERP system in a Sudanese organization and to understand how the organization implemented the appropriate controls to minimize its business risks impact. To achieve this objective, a number of key articles were reviewed and analyzed to understand the different critical risk factors influence ERP implementation. New risk factors and controls influence ERP implementation have been identified. A new model of ERP implementation critical risk factors was developed. Furthermore, the risk factors were classified into categories, probability, impact and proximity, then using a prioritizing tool, the results of this study contributes to risks identification and prioritization by pointing to the less priority and the most critical risk factors.

Risk analysis for container shipping: from a logistics perspective

2015 ◽  
Vol 26 (1) ◽  
pp. 147-171 ◽  
Author(s):  
Chia-Hsun Chang ◽  
Jingjing Xu ◽  
Dong-Ping Song
Keyword(s):  
Risk Factors ◽  
Design Methodology ◽  
Risk Identification ◽  
Container Shipping ◽  
Case Study Method ◽  
Content Type ◽  
Related Data ◽  
Operational Risks ◽  
Potential Risks

Purpose – The purpose of this paper is to explore and analyse the risks in container shipping operations from a logistics perspective. In the paper, risks associated with the three flows in logistics − information, physical, and payment flow are identified and analysed. Design/methodology/approach – The use of case study method was first explained and justified. Second, risk identification was started with supporting references, several interviews were then conducted to identify and validate the potential risks in container shipping operations. A questionnaire was deployed to collect related data; and the impacts of the risks were then assessed and ranked using the method of risk mapping. Findings – The paper has identified a total of 35 risk factors and classified them into different categories. The paper has also revealed that the risks associated with physical flows have more serious risk impacts than the other types of risks; however, one of the risk factors associated with information flow (shippers hiding cargo information) is the most significant one among all the factors. Originality/value – Although many studies have been conducted on container shipping operational risks, no studies so far have approached this issue from a perspective that inclusively examines all the possible risks and comprehensively evaluates the relative importance of each of them. This study has identified the risks in container shipping operations, and analysed and ranked the level of these risks. The research further “refines” the findings of some previous studies by placing the risk factors addressed therein in a full “risk picture” which was developed systematically.

Why do the design stage elemental cost plan and final tender sum differ in New Zealand?

2015 ◽  
Vol 20 (2) ◽  
pp. 116-131 ◽  
Author(s):  
Johnson Adafin ◽  
James O.B. Rotimi ◽  
Suzanne Wilkinson
Keyword(s):  
Risk Factors ◽  
New Zealand ◽  
Risk Identification ◽  
Design Stage ◽  
Information Quantity ◽  
Building Projects ◽  
Content Type ◽  
Study Participants ◽  
Cost Plan

Purpose – The aim of this study is to investigate the reasons for disparity between design stage elemental cost plan and final tender sum (contract sum) in building procurement. A number of risk factors responsible for such variation were identified through case study projects from which data were extracted. Design/methodology/approach – Literature review determined the risk factors inherent in the preparation of design stage elemental cost plan. Interviews and thematic analysis identified the risk factors responsible for the disparity between design stage elemental cost plans and final tender sums. Analysis of documents obtained from the archives of study participants (consultant quantity surveyors) complemented responses from the interviews. Findings – The review revealed a number of inherent risks in the design stage elemental cost plan development. The interviews further indicated that risks have an impact on and are responsible for the deviations experienced. The assessment of these risk elements could assist in determining the final tender sum from cost plans. Research limitations/implications – Findings revealed disparity between elemental cost plans and final tender sums in the region of −14 and +16 per cent. The risk factors identified were responsible for the deviations observed. With this information, Quantity Surveyors are more able to accurately forecast final tender sums of building projects from cost plans through proper risk identification and analysis, thus increasing the accuracy of design stage elemental costing. Originality/value – To the best of the knowledge of the researchers, there is no recent documentary evidence of an investigation into the reasons for disparity between design stage elemental cost plan and final tender sum in traditional building procurement in New Zealand construction.

The Effects of Decision Aid Orientation on Risk Factor Identification and Audit Test Planning

2002 ◽  
Vol 21 (2) ◽  
pp. 39-56 ◽  
Author(s):  
Jean C. Bedard ◽  
Lynford E. Graham
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Decision Aid ◽  
Decision Aids ◽  
Management Strategies ◽  
Risk Identification ◽  
Matched Pair ◽  
Audit Planning ◽  
Audit Firms ◽  
Risk Management Strategies

In auditing, risk management involves identifying client facts or issues that may affect engagement risk, and planning evidence-gathering strategies accordingly. The purpose of this paper is to examine whether auditors' identification of risk factors and planning of audit tests is affected by decision aid orientation, i.e., a “negative” focus wherein client risk and its consequences are emphasized, or a “positive” focus where such factors are not emphasized. Specifically, we expect that auditors will identify more risk factors using a negatively oriented risk identification decision aid, but only when engagement risk is relatively high. We address this issue in the context of auditors' knowledge of actual clients, manipulating decision aid orientation as negative or positive in a matched-pair design. Results show that auditors using the negative decision aid orientation identify more risk factors than do those using a positive orientation, for their higher-risk clients. We also find that decisions to apply substantive tests are more directly linked to specific risk factors identified than to direct risk assessments. Further, our results show that auditors with repeat engagement experience with the client identify more risk factors. The findings of this study imply that audit firms may improve their risk management strategies through simple changes in the design of decision aids used to support audit planning.

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