Risk Management Decisions and Organizational Structure in the Case of a Development Management Firm

2013 ◽  
pp. 181-202
Author(s):  
Mohammad Baydoun
Keyword(s):  
Risk Management ◽  
Saudi Arabia ◽  
Organizational Structure ◽  
Large Scale ◽  
Management Practices ◽  
Decision Makers ◽  
Management Approach ◽  
Development Projects ◽  
High Level ◽  
Large Scale Project

This case aims to analyze risk management practices of Millennium Development International (MDI) and suggest enhancements based on a theoretical framework derived from the literature while considering the implications to its organizational structure. Al-Shamiyah project in Makkah, Saudi Arabia, is used as an example to illustrate the practices of MDI. Due to a high level of risk associated with large-scale development projects, it is argued that the traditional risk management approach is not convenient to the context of these projects. Each large-scale project has a high level of uniqueness that renders benchmarks generated out of previous projects obsolete. Hence, a reactive risk management approach is being promoted. For the purpose of optimizing this approach, engaging necessary experts and securing the presence of key decision makers in the process, the formulated system defines key milestones at which risks need to be assessed and proper decisions need to be taken.

Risk Management Decisions and Organizational Structure in the Case of a Development Management Firm

2016 ◽  
pp. 1220-1237 ◽  
Author(s):  
Mohammad Baydoun
Keyword(s):  
Risk Management ◽  
Saudi Arabia ◽  
Organizational Structure ◽  
Large Scale ◽  
Management Practices ◽  
Decision Makers ◽  
Management Approach ◽  
Development Projects ◽  
High Level ◽  
Large Scale Project

This case aims to analyze risk management practices of Millennium Development International (MDI) and suggest enhancements based on a theoretical framework derived from the literature while considering the implications to its organizational structure. Al-Shamiyah project in Makkah, Saudi Arabia, is used as an example to illustrate the practices of MDI. Due to a high level of risk associated with large-scale development projects, it is argued that the traditional risk management approach is not convenient to the context of these projects. Each large-scale project has a high level of uniqueness that renders benchmarks generated out of previous projects obsolete. Hence, a reactive risk management approach is being promoted. For the purpose of optimizing this approach, engaging necessary experts and securing the presence of key decision makers in the process, the formulated system defines key milestones at which risks need to be assessed and proper decisions need to be taken.

Institutional logics and risk management practices in government entities: evidence from Saudi Arabia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peter Murr ◽  
Nieves Carrera
Keyword(s):  
Risk Management ◽  
Saudi Arabia ◽  
Management Practices ◽  
Single Case ◽  
Institutional Logics ◽  
Content Type ◽  
Traditional Logic ◽  
Adoption And Implementation ◽  
The Government

Purpose This study aims to understand how institutional logics influence the adoption and implementation of risk management (RM) practices by government entities in a non-western, developing country. Design/methodology/approach This study draws on the institutional logics perspective (ILP) to analyze a case study of a government entity in Saudi Arabia. Data were obtained from semi-structured interviews, observations and documentary evidence. Findings Findings suggest that the adoption and implementation of RM projects by Saudi governmental agencies was rooted in a traditional logic, even though the catalyst of the government for adopting a RM culture across government agencies was framed within a reform program inspired by a modernization logic. In the entity under investigation, the RM project led to an unstable situation where actors were confronted with these two competing logics. Although the project used manifestations of a modernization logic, the actions of individuals within the organization were embedded in a traditional logic. Research limitations/implications The study is based on a single case study in a specific country, limiting the generalizability of the findings. Originality/value This study provides novel evidence of the adoption and implementation of RM in governmental entities in a developing, non-western, country using ILP. Doing so enhances our knowledge about how managers struggle with competing institutional logics in an underexplored setting and enriches current accounts of key drivers and barriers of RM. It also addresses calls for a deeper understanding of the logics and managerial practices interplay in the public sector.

Corporate Governance and Risk Management on Listed Banks, The Tanzania Perspective

2021 ◽  
Vol 8 (1) ◽  
pp. 27
Author(s):  
Erick Lusekelo Mwambuli ◽  
Avitus Mwebembezi Dominick
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Board Of Directors ◽  
Ownership Structure ◽  
Management Practices ◽  
Stock Exchange ◽  
Management Approach ◽  
Financial Risks ◽  
The Board Of Directors

The study was to assess on corporate governance and risk management in Tanzania. The study was guided by three objectives which were to assess if transparency, disclosure and audit have significant effect on risk management of the firm, to assess if the board of directors have significant effect on risk management of the firm and evaluate if the ownership structure have significant effect on risk management of the firm. Furthermore, we assess how corporate governance and particularly board of directors, ownership structure, transparency disclosure and audit can affect risk management practices in the context of Dar es Salaam stock exchange listed banks. By the use of a content in analysis approach, the level of exposing the risks in terms of likelihood, consequences of such risk and the strategies used for managing that risk were identified for each kind of risk by using attributes. The results show that corporate governance is related to board of directors, ownership structure, transparency, disclosure and audit play a positive significant and crucial role in establishing an integrative risk management approach. The results from data collected demonstrate that corporate governance has positive significant effect in determining the the good quality of risk management through the level of risk-taking in decisions, especially in terms of financial risks management.

Personal Financial Risk Management Practices among Households in Riyadh, Saudi Arabia

2020 ◽  
pp. 171-183
Author(s):  
Masahina Sarabdeen ◽  
Ann Largey ◽  
Noreha Halid ◽  
A.C. Muhammadu Kijas ◽  
Abad Alzuman
Keyword(s):  
Risk Management ◽  
Saudi Arabia ◽  
Financial Risk ◽  
Management Practices ◽  
Financial Risk Management

Contrasting cybersecurity implementation frameworks (CIF) from three countries

2019 ◽  
Vol 27 (3) ◽  
pp. 373-392
Author(s):  
Adenekan Dedeke ◽  
Katherine Masterson
Keyword(s):  
Risk Management ◽  
Design Methodology ◽  
Document Analysis ◽  
Decision Makers ◽  
The Other ◽  
Management Approach ◽  
Content Type ◽  
Assessment Matrix ◽  
Comprehensive Framework ◽  
Country Specific

Purpose This paper aims to explore the evolution of a trend in which countries are developing or adopting cybersecurity implementation frameworks that are intended to be used nationally. This paper contrasts the cybersecurity frameworks that have been developed in three countries, namely, Australia, UK and USA. Design/methodology/approach The paper uses literature review and qualitative document analysis for the study. The paper developed and used an assessment matrix as its coding protocol. The contents of the three cybersecurity frameworks were then scored to capture the degree to which they covered the themes/items of the cybersecurity assessment matrix. Findings The analysis found that the three cybersecurity frameworks are oriented toward the risk management approach. However, the frameworks also had notable differences with regard to the security domains that they cover. For example, one of the frameworks did not offer guidelines with regard to what to do to respond to attacks or to plan for recovery. Originality/value The results of this study are beneficial to policymakers in the three countries targeted, as they are able to gain insights about how their cybersecurity frameworks compares to those of the other two countries. Such knowledge would be useful as decision-makers take steps to improve their existing frameworks. The results of this study are also beneficial to executives who have branches in all three countries. In such cases, security professionals could deploy the most comprehensive framework across all three countries and then extend the deployment in each location to meet country-specific requirements.

scholarly journals Deriving customized terrain classes for avalanche risk management in mechanized skiing operations from operational terrain assessments

2018 ◽  
Author(s):  
Reto Sterchi ◽  
Pascal Haegeli
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Decision Aids ◽  
Decision Makers ◽  
Terrain Classification ◽  
Self Organizing Maps ◽  
New Approach ◽  
The Past ◽  
Avalanche Risk Management ◽  
Avalanche Risk

Abstract. An in-depth understanding of the nature of the available terrain and its exposure to avalanche hazard is crucial for making informed risk management decisions when travelling in the backcountry. While the Avalanche Terrain Exposure Scale (ATES) is broadly used for providing recreationists with terrain information, this type of terrain classification has so far only seen limited adoption within the professional ski guiding community. We hypothesize that it is the generic nature and small number of terrain classes of ATES and its precursor systems that prevent them from offering professional decision makers meaningful assistance. Working with two mechanized skiing operations in British Columbia, Canada, we present a new approach for deriving terrain classifications from daily terrain assessment records. We used a combination of self-organizing maps and hierarchical clustering to identify groups of ski runs that have been assessed similarly in the past and organized them into operation-specific terrain hierarchies. We then examined the nature of the emerging terrain hierarchies using comprehensive run characterizations from experienced guides. Our approach produces high-resolution terrain hierarchies that offer a more nuanced and meaningful perspective on the available skiing terrain and provide new opportunities for examining professional avalanche risk management practices and developing meaningful decision aids.

AN APPLICATION CONCEPT OF THE FIBRE-OPTICAL TECHNOLOGY IN GEODETIC MONITORING OF ENGINEERING OBJECTS

2017 ◽  
Vol 166 (46) ◽  
pp. 60-74
Author(s):  
Krzysztof Karsznia ◽  
Konrad Podawca
Keyword(s):  
Risk Management ◽  
Large Scale ◽  
State Of The Art ◽  
Monitoring Systems ◽  
Management Approach ◽  
Engineering Structures ◽  
Geoinformation Systems ◽  
Current State ◽  
Modern Engineering ◽  
Integrated Risk

Monitoring of structures and other different field objects undoubtedly belongs to the main issues of modern engineering. The use of technologies making it possible to implement structural monitoring makes it possible to build an integrated risk management approach combining instrumental solutions with geoinformation systems. In the studies of engineering structures, there is physical monitoring mainly used for examining the physical state of the object - so-called SHM ("Structural Health Monitoring"). However, very important role is also played by geodetic monitoring systems (GMS). The progress observed in the field of IT and automatics has opened new possibilities of using integrated systems on other, often large-scale objects. Based on the current state-of-the-art, the article presents the concept of integration approaches of physical and geodetic monitoring systems in order to develop useful guidelines for further construction of an expert risk management system.

Joint Risk Design in Swiss Middle-Sized Service Companies: Frameworks and Management Practices

2016 ◽  
Vol 20 (1) ◽  
Author(s):  
Jens O. Meissner
Keyword(s):  
Risk Management ◽  
Role Models ◽  
Management Practices ◽  
Qualitative Interviews ◽  
Public Institutions ◽  
Decision Makers ◽  
Business Organizations ◽  
Service Companies ◽  
Strong Focus ◽  
High Degree

Abstract:Today’s social reality will doubtless alter the risk management practices of organizations of all kinds. Whereas large companies and public institutions serve as role models and have the resources to apply standards or develop and set them by themselves, mid-sized businesses usually do not have this possibility. Instead, they apply management practices that base on existing management routines and their typical organizational characteristics. But how do these practices look like? And what is the semantic program that is performed by the organization to manage the risks? This empirical paper contains the analysis of typical risk management practices in mid-sized service companies in Switzerland. The study relies on open, qualitative interviews with top level decision-makers resulting in the description of the characteristics of six companies. The analysis shows that these firms mainly focus on project risk management, and combine it with a strong focus on business speed and agility, the smart combination of their talent pool in teams, the application of a non-bureaucratic governance style and a conscious acceptance of a high degree of intuition in management decisions. This research contributes to a better understanding of the risk design of mid-sized business organizations as very important societal units in splitting, pooling, distributing and addressing their risks.

scholarly journals The methodology of the Logical Framework with a Risk Management Approach to Improve the Sustainability in the International Development Projects

2022 ◽  
Vol 14 (2) ◽  
pp. 756
Author(s):  
Rocío Rodríguez-Rivero ◽  
Isabel Ortiz-Marcos
Keyword(s):  
Risk Management ◽  
International Development ◽  
Management Approach ◽  
Development Projects ◽  
Logical Framework ◽  
Case Study Analysis ◽  
Analysis And Design ◽  
Framework Approach ◽  
Research Questions

When working with international development projects (IDPs), the use of the logical framework approach (LFA) prevails as the most important tool to plan and manage these projects. This paper presents how the methodology has been enriched, including risk management (LFRMA logical framework with risk management approach), proposing an original contribution, tested with professionals that will improve the effectiveness of IDPs by increasing their success rate and their sustainability. The steps followed to design the methodology (problem statement (literature review, interview with experts, questionnaire for professionals. and statistical analysis), case study analysis (eight case studies in Colombia, interviews with IDPs managers, focus groups, questionnaire for participants, qualitative analysis, and fuzzy analysis) and design of LFRMA (focus group with experts)) and the methodology itself (how to introduce risk management during all the life cycle through the methodology steps) are presented. Conclusions answer the research questions: can the effectiveness and sustainability of IDPs be improved? Can risk management help to improve IDPs effectiveness? Would it be useful to introduce risk management into the LFA? The LFRMA methodology consists of two fields of application, the first at the organization level and the second at the project level.

scholarly journals Analysis of the effect of corporate governance attributes on risk management practices

2018 ◽  
Vol 8 (1) ◽  
pp. 14-23 ◽  
Author(s):  
Raef Gouiaa
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Management Practices ◽  
Management Approach ◽  
Financial Risks ◽  
Research Attention ◽  
Operating Process ◽  
Governance Systems ◽  
Enterprise Risk ◽  
Increased Risk

Despite recent increased risk research attention being focussed on the Canadian and international scene, there are few research studies that specifically address the relation between corporate governance systems and risk management practices. This paper examines the relation between corporate governance systems and enterprise risk management. More specifically, we analyze how corporate governance attributes and particularly board characteristics can affect risk management practices in the context of Canadian listed companies. Using a content analysis approach, the level of exposure to risk in terms of likelihood, the consequences of such risk and the strategies for managing that risk were identified for each type of risk. The results reveal that corporate governance attributes related to board’s structure, directors’ characteristics and the board’s operating process play a significant and important role in establishing an integrative risk management approach. The results show that directors’ characteristics and the board’s process significantly determine the quality of risk management through the level of risk-taking in decisions, especially in terms of financial risks.

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