General Approach to Risk Analysis

2015 ◽  
pp. 1217-1236
Author(s):  
Davorin Matanovic
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Qualitative Methods ◽  
Iterative Process ◽  
Quantitative Methods ◽  
Hybrid Methods ◽  
Petroleum Industry ◽  
Acceptance Criteria ◽  
Risk Acceptance ◽  
The Impact

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

General Approach to Risk Analysis

2014 ◽  
pp. 1-22
Author(s):  
Davorin Matanovic
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Qualitative Methods ◽  
Iterative Process ◽  
Quantitative Methods ◽  
Hybrid Methods ◽  
Petroleum Industry ◽  
Acceptance Criteria ◽  
Risk Acceptance ◽  
The Impact

Broadly accepted methodology that is implemented in the oil industry when dealing with risks includes as the first step the identification of possible hazards. That is done by gathering information about degree of risk according to working procedures, processes, and individuals involved in the operation of the process. That is the first step in risk management, an iterative process that must lead to the use of proper measurements in the way of protecting people, facilities and environment. The analysis is done based on the combination of probability and severity of undesirable events, and the final consequences. Explanation of basic terms, their interdependence, dilemmas, and methods of risk analysis are introduced. Each method is shortly described with main anteriority and shortcomings. Differences between quantitative methods, qualitative methods, and hybrid methods (the combination of qualitative-quantitative or semi-quantitative methods) are elaborated. The impact, occurrence, and the consequences are at the end compared to risk acceptance criteria concept. The ALARP (As Low as Reasonably Practicable) framework is explained with some observation on the quality and acceptance in petroleum industry. Finally, the human impact on the risk and consequences is analyzed.

scholarly journals The impact of a and b value uncertainty on loss estimation in the reinsurance industry

2000 ◽  
Vol 43 (1) ◽  
Author(s):  
D. Liechti ◽  
E. Ruettener ◽  
S. Eugster ◽  
R. Streit
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Loss Estimation ◽  
Earthquake Risk ◽  
Seismic Risk Analysis ◽  
Earthquake Catalogues ◽  
Local Soil ◽  
Average Annual Loss ◽  
The Impact ◽  
Loss Level

In the reinsurance industry different probabilistic models are currently used for seismic risk analysis. A credible loss estimation of the insured values depends on seismic hazard analysis and on the vulnerability functions of the given structures. Besides attenuation and local soil amplification, the earthquake occurrence model (often represented by the Gutenberg and Richter relation) is a key element in the analysis. However, earthquake catalogues are usually incomplete, the time of observation is too short and the data themselves contain errors. Therefore, a and b values can only be estimated with uncertainties. The knowledge of their variation provides a valuable input for earthquake risk analysis, because they allow the probability distribution of expected losses (expressed by Average Annual Loss (AAL)) to be modelled. The variations of a and b have a direct effect on the estimated exceeding probability and consequently on the calculated loss level. This effect is best illustrated by exceeding probability versus loss level and AAL versus magnitude graphs. The sensitivity of average annual losses due to different a to b ratios and magnitudes is obvious. The estimation of the variation of a and b and the quantification of the sensitivity of calculated losses are fundamental for optimal earthquake risk management. Ignoring these uncertainties means that risk management decisions neglect possible variations of the earthquake loss estimations.

scholarly journals – The impact of the requirements of the business continuity in the Sustainability performance of the company relying strategy of risk management– A case Study in Al- Fayha / Basra branch Ready Construction Co limited: تأثير متطلبات استمرارية الأعمال في الأداء المستدام للمنظمة باعتماد استراتيجية إدارة المخاطر– دراسة حالة في شركة الفيحاء لصناعة البناء الجاهز المحدودة / البصرة –

2019 ◽  
Vol 3 (6) ◽  
Author(s):  
Iman Askar Hawi
Keyword(s):  
Risk Management ◽  
Quantitative Methods ◽  
Business Continuity ◽  
Sustainability Performance ◽  
Strategic Role ◽  
Interactive Relationship ◽  
Main Components ◽  
The Impact

  Purpose: This study is intended to improve the Sustainability performance in the Al- Fayha / Basra branch Ready Construction Co limited relationship between the strategy of risk management and requirements of the business continuity and investigation of the findings. Methodology: Making up a conceptual model of the business continuity tracks flow in the Al- Fayha / Basra branch Ready Construction Co limited The model is based on the interactive relationship between the risk management and requirements of the business continuity of Some help was available quantitative methods, relying on a combination of descriptive and quantitative approaches, in order for the accuracy of the results. results: the Al- Fayha / Basra branch Ready Construction Co limited been the subject matter of the research. It lacks the conceptual pattern that systemizes , integrates and directs its main components towards a comprehensive improvement of the company. In addition it requires relative interest in the strategic role of the strategy of risk management and its dual effects on both the business continuity and the Sustainability performance of the Company. The main recommendations were to identify the risks that affect the business continuity of the company, to control them in order to achieve full response to all business continuity requirements.    

scholarly journals Kajian Regulatory Impact Analysis (RIA) Pengaturan Perdagangan Gula Kristal Rafinasi Melalui Pasar Lelang Komoditas dari Sudut Pandang Pelaku IKM dan Pakar

2021 ◽  
Vol 7 (1) ◽  
pp. 85
Author(s):  
Kwarnanto Rohmawan P
Keyword(s):  
Qualitative Methods ◽  
Quantitative Methods ◽  
Impact Analysis ◽  
Field Studies ◽  
Systematic Analysis ◽  
Regulatory Impact Analysis ◽  
Central Java ◽  
Regulatory Impact ◽  
The Government ◽  
The Impact

Regulatory Impact Analysis or Regulatory Impact Analysis (RIA) is the process of systematic analysis of the impact of the policy. Usually, the RIA approach is implemented in the process of formulating a new policy or policies in force that could be useful for the processes of revision or improvement of policies. This study was to analyze the impact of Minister of Trade Regulation (the Regulation) No.16 / M-DAG / PER / 3/2017 and the Rules and Regulations Auction Markets refined sugar that has been disseminated to stakeholders issued by PT Pasar Komoditas Jakarta (PT PKJ) and provide recommendations to the government, in this case, the Coordinating Ministry for the Economy and Trade Ministry. Data processing was performed using a combination of quantitative and qualitative methods to take advantage of the data sources are interviews, discussions, field studies, as well as desk-study. Quantitative methods are performed by calculating the percentage of respondents' opinions on these questions. While qualitative methods were performed with descriptive information gathering through interviews or discussions. The place of research includes 6 Province, namely Jakarta, West Java, Banten, Central Java, East Java, and Yogyakarta, conducted in early October to early December 2017. The sample of this study is the small and medium industries as many as 21 respondents. While respondents expert (expert) made up of economists, legal experts, and public policy experts amounted to 6 people

The Politics of Risk: Trials and Tribulations of the Taurus Project

1996 ◽  
Vol 11 (4) ◽  
pp. 347-357 ◽  
Author(s):  
Helga Drummond
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Risk Analysis ◽  
Balance Of Power ◽  
Decision Makers ◽  
Illusion Of Control ◽  
Complex Projects ◽  
Risk Acceptance ◽  
The Relationship

The term ‘risk management’ implies that risk is something which can be quantified, predicted and controlled. This paper seeks to demonstrate the limits of this assumption where complex projects are involved. The argument is based upon a case study of a failed £80 million IT venture known as Taurus. Analysis focuses upon the relationship between politics and the assumption of risk. Acceptance of risk, it is argued, is ultimately determined by the balance of power between decision makers. Moreover, risk analysis and other techniques of management may actually compound the difficulties by fostering an illusion of control and escalation. The implications for project management are discussed.

Risk Analysis Using Simulation Software Applied on a Road Infrastructure Project

2015 ◽  
Vol 4 (1) ◽  
pp. 53-62 ◽  
Author(s):  
Vijaya S. Desai
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Software Tools ◽  
Simulation Software ◽  
The Body ◽  
Close Monitoring ◽  
Road Infrastructure ◽  
Infrastructure Project ◽  
Project Objectives ◽  
The Impact

Risk management in infrastructure projects has been a very important process to achieve the project objectives, namely: time, cost, quality, safety and environmental sustainability. Huge investments are made in infrastructure construction projects like roads, railways, ports, airports, electricity, telecommunication, oil gas pipelines and irrigation. This growing Increase in investment in infrastructure investment projects demands requires close monitoring of costs to ensure a net return. The evaluation of returns on investment at the conceptual stage plays a vital role in this phase. Software tools help in bringing out near accurate analysis of returns on investments and to support project viability under multiple circumstances. The paper presents an analysis of how software was applied to evaluate and mitigate risk during the case of a six lane road infrastructure project. The unit of analysis was the impact of cost of construction cost, interest rates for loans, methods of depreciation, revenue sharing on various financial indices: IRR, MIRR, DSCR and payback period. The interpretation was that software tools can be used to perform risk analysis, sensitivity analysis and scenario analysis. The case study makes a contribution to the body of knowledge by developing guidelines for using software tools in risk management.

Coaching in Brazil Sport Coaching as a Profession in Brazil: An Analysis of the Coaching Literature in Brazil From 2000-2015

2016 ◽  
Vol 3 (3) ◽  
pp. 316-331 ◽  
Author(s):  
Larissa Galatti ◽  
Otavio Baggiotto Bettega ◽  
Vinícius Zeilmann Brasil ◽  
Antonio Evanhoé Pereira de Souza Sobrinho ◽  
Rachael Bertram ◽  
...  
Keyword(s):  
Mixed Methods ◽  
Qualitative Methods ◽  
Quantitative Methods ◽  
Olympic Games ◽  
International Level ◽  
The Past ◽  
The Impact ◽  
Sport Coaches ◽  
Sports Coaching ◽  
Sport Coaching

Sport coaches in Brazil have been recognized as professionals since the implementation of law 9696 in 1998. However, little is known about the impact of this law on the production of coaching science in this country. In an attempt to situate the sports coaching research produced in Brazil since then, the aim of the current study was to show an overview of Brazilian publications from 2000 to 2015. Eight journals were selected and a review was performed in 425 issues of the journals from 2000 to 2015. As a result, 82 published articles were analyzed. On average, five articles were published each year, with 81.7% of the articles published from 2009 to 2015. The findings illustrate that 37.7% of the articles were focused on coaches’ thinking and 29.5% on coaches’ behaviors, 48.7% used qualitative methods, while 40.3% used quantitative methods and 20.9% used mixed methods. Only two articles attempted to explore the impact of the 1998 legislation on the development of sport coaches in Brazil. In general, research on sport coaching in Brazil seems to be emerging on an international level, as there has been an increase in publications over the past seven years, especially in the lead-up to the Rio2016 Summer Olympic Games.

scholarly journals ACTUAL PROBLEMS OF POPULATION HEALTH RISKS MANAGEMENT IN RUSSIA

2018 ◽  
Vol 97 (6) ◽  
pp. 572-575 ◽  
Author(s):  
V. N. Rakitskiy ◽  
Simon L. Avaliani ◽  
T. A. Shashina ◽  
N. S. Dodina
Keyword(s):  
Public Health ◽  
Risk Management ◽  
Risk Analysis ◽  
Health Risks ◽  
Cost Benefit ◽  
Management Activity ◽  
Impact Reduction ◽  
The Government ◽  
Business Entities ◽  
The Impact

In the article there are defined the main tasks of risk analysis and its main component - risk management, which make it possible to develop economically efficient measures, aimed at the impact reduction of environmental harmful factors for public health based on the analysis of market driven approaches «cost-benefit» and «cost-effectiveness». As well there are emphasized significant fundamental changes in the area of the legislative support of management activity, focused on sanitary and epidemiological welfare of the population. The implementation of risk-focused approach to the practice of means of control and supervision to the government of Russian Federation is an integral part of control reformation system of different nature. The key problems of public health risk management in Russia are defined and the main ways of their solution are discussed. Thus, the development of reliable and scientifically based classifications of hazard level for objects requires clear criteria for supervision of assessing objects. Classes of business entities should reflect the leading risk factors, which discovered in the controlled areas. In the justification of risk from the probability (frequency) of violations of the mandatory requirements of sanitary legislation required the inventory of all consequences of the breach of sanitary legislation for each object of supervision and their ranking according to the degree of hazard. It is pointed out, that the movement towards to the technological regulation of air pollution emissions, including indicators of the Maximum Achievable Control Technology or (MACT) is a progressive management method, which requires an analysis with the use of MACT from the perspective of achieving acceptable risk levels, as well as an assessment of the effectiveness of alternative measures to reduce emissions, including MACT. It was noted, that on the basis of comparative risk analysis, it is possible to assess not only the risk to human health, but also the environmental risk to the ecosystem and its components, as well as the risk associated with the violation of the quality and living conditions. It is seen the interaction of concerned parties in the development of solutions management of health risks from environmental factors.

scholarly journals LOCAL ELITES INTERRELATIONS IN TRANSFORMED MUNICIPALITIES: DOES THE ENLARGEMENT OF TERRITORIES LEAD TO ELITE CONSOLIDATION? (ON THE EXAMPLE OF MUNICIPALITIES IN PERM REGION)

2020 ◽  
Author(s):  
Зуйкина Анна ◽  
Keyword(s):  
Qualitative Methods ◽  
Quantitative Methods ◽  
Local Elites ◽  
The Impact ◽  
Perm Region

The article attempts to assess the impact of the transformation of municipal districts of the Perm region into urban / municipal districts on the elites interaction. The quantitative methods of electoral statistics analyzing and the qualitative methods of processes of the local legislatures chairmen electing and of district heads analyzing are used in order to study inter-elite consolidation.

scholarly journals RISK ANALYSIS AND MANAGEMENT OF PROCUREMENT ACTIVITIES IN ELEMENTARY SCHOOL BOOK PRINTING PROJECT USING HOUSE OF RISK METHOD

2021 ◽  
Vol 16 (4) ◽  
pp. 225-229
Author(s):  
Ananda Vania Arisa Putri ◽  
Rheza Aulia Ramadhan ◽  
Bambang Purwanggono Sukarsono
Keyword(s):  
Risk Management ◽  
Elementary School ◽  
Risk Analysis ◽  
Risk Evaluation ◽  
Raw Materials ◽  
Mitigation Measures ◽  
Management Effort ◽  
School Books ◽  
The Impact ◽  
Risk Analysis And Management

Risk management is a management effort to control the company's risk operations by conducting risk analysis, risk evaluation and mitigation plan. Risk management efforts are feasible to be applied to the company's business activities including procurement activities. PT XYZ is one of the printing companies whose main demand is the printing of Elementary School Books. There is a decrease in demand that results in disruption to the company's cash flow so that a tight money policy is applied to every company's activity including procurement activities. This policy increases the risk that may occur, so risk management efforts are needed to minimize the impact that can occur. The House of Risk method is used to identify risk events and risk agents that cause them, and design mitigation measures to address those risk agents. The results showed that there were 10 risk events and 10 identified risk agents, with priority risk agents to be handled are A1 (volume and type of raw materials are incorrect) and A3 (communication interruption). There are 5 recommended mitigation measures.

Sign in / Sign up

Export Citation Format

Share Document