scholarly journals Risk Management Framework

2017 ◽  
pp. 229-270
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Management Strategy ◽  
Management Tool ◽  
Risk Management Strategy ◽  
Management Framework ◽  
Risk Management Framework ◽  
External Stakeholders ◽  
Managing Risk ◽  
Good Risk

This chapter examines the adoption of a formal risk management strategy framework in a PPP arrangement. The chapter shows the relevance of risk management as an PPP project management tool. The chapter also reveals how the use of risk management is dependent on relational skills, knowledge of the PPP project activities and experience. Risk management can therefore be seen as both a context-dependent devices and as a technique abstracted from the context. The paper discusses how managing risk can be dealt with in risk's complexity, addressing the expectation of multiple PPP actors and external stakeholders. It is concluded that a good risk management framework must be derived from the risk fundamentals through a clear processes and above all be monitored on a regular basis. This requires proper planning to ensure sustainability of the framework with an inclusion of the varied stakeholders.

scholarly journals PECULIARITIES OF FINANCIAL AND ECONOMIC ACTIVITY MANAGEMENT OF THE BUSINESS ENTITY ON THE RISK MANAGEMENT BASIS

2021 ◽  
Author(s):  
Yaroslav Drobot ◽  
◽  
Svitlana Dzhezhela ◽  
Keyword(s):  
Mathematical Model ◽  
Risk Management ◽  
Economic Activity ◽  
Management Strategy ◽  
Management Tool ◽  
Total Risk ◽  
Risk Management Strategy ◽  
Economic Activities ◽  
Metallurgical Enterprise ◽  
Aggregate Risk

The article is devoted to the problems of financial and economic activities management of metallurgical enterprises on the basis of risk management, taking into account the division of their activities into operating, investment and financial. The essence of the risk concept in the situation of alternative behavior of the business entity is considered. The development of the economic category "Aggregate Risk" is analyzed and this concept is clarified on the basis of the alternative approach in the multi-probable situation of the final result. The indicators of determining the total risk from financial and economic activities, which were proposed by O.S. Stoyanova, have been investigated and the possibility of their application in the economy of Ukraine. The general approach to complex risk management in activity of the metallurgical enterprise has been defined. It is proposed to combine operating and investment activities and consider their combination as a single economic activity. An economic-mathematical model of optimization of the aggregate risk of the business entity was built on the basis of finding a compromise between profit maximization and minimization of aggregate risk. Analytical dependences were constructed between different parameters of functioning of the business entity, which together with the existing functional dependencies created the equations and inequalities of the obtained economic-mathematical model. It is proved that the management of the total risk of economic and financial activities at metallurgical enterprise is more effective risk management tool than the individual risks management. The application of the approach to aggregate risk management in strategic management ensures the complexity and systemic nature of risk management of industrial enterprises. The proposed conceptual approaches to the management of aggregate risk of financial and economic activities are the basis for the formation of the development strategy of the metallurgical industry. Approbation of the research results was carried out in the conditions of PJSC «Interpipe NTRP» to determine the main parameters of the risk management strategy. The effectiveness of the developed risk management strategy of the business entity is determined on the basis of the difference between the optimized and actual values of the main indicators of its financial and economic activity. The effectiveness of the implementation of the developed strategy is to reduce the overall level of risk of the enterprise by 1.71 and increase the return on capital of the enterprise by 7.65%.

scholarly journals Developing a Risk Management Framework in Construction Project Based on Agile Management Approach

2019 ◽  
Vol 5 (3) ◽  
pp. 608
Author(s):  
Mohammed Neamah Ahmed ◽  
Sawsan Rasheed Mohammed
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Projects ◽  
Construction Project ◽  
Management Approach ◽  
Management Framework ◽  
Contact Points ◽  
Risk Management Framework ◽  
Management Concepts ◽  
Flexible Management

Construction projects in nature, carry a lot of risks, and unpredictable conditions. Thus, flexible management is required for the purpose of efficient responding to the various changes appear during their implementation. As an attempt to deal with risk in the construction project, this research aims at proposing a risk management framework in construction projects that built based on Agile management concept, which is a sequence of procedure deals with the project’ primary vision to its final delivery. The risk management framework will trace alignment and discover a contact between Agile and traditional project management concepts and find contact points among two of the more used Agile frameworks (Scrum) and one of the more confirmed project management framework (PMBOK®) processes. This will result in a recognition of comparable areas between Scrum and PMBOK® processes. The goal of the framework is to assist the project managers to adapt a more flexible approach to managing and implementing the construction project. The results proved that Agile management process from the create prioritized project backlog, sprint planning, sprint review, to sprint retrospective procedures and less time of the cycle, eliminate or mitigate many risks that lead to project challenges and failure.

scholarly journals Analisis Tingkat Maturitas Implementasi Manajemen Risiko di IPB University

2021 ◽  
Vol 12 (3) ◽  
pp. 177-188
Author(s):  
Ryandi Simanjuntak ◽  
D S Priyarsono ◽  
Titik Sumarti
Keyword(s):  
Risk Management ◽  
Environmental Changes ◽  
Secondary Data ◽  
Maturity Level ◽  
Management Framework ◽  
Risk Management Framework ◽  
Positive Attitudes ◽  
Risk Management Process ◽  
Managing Risk ◽  
Level Of Risk

The implementation of risk management will not always achieve its goals. This problem can be caused by lack of consistency during the risk management implementation or it can not adapt to environmental changes. Therefore, an organization needs to measure the maturity level of the organization’s risk management implementation. This research aims to analyze the maturity level of risk management implementation at IPB University. The research was conducted at IPB University, and it was using primary and secondary data. Research shows that the characteristics that need to be measured, or the attributes that need to be measured, in measuring the maturity level of risk management implementation at IPB University are risk culture, risk management framework, risk management process and risk management documents. The attributes will have their indicators, parameters, and test factors. The result of the measuring of maturity level of risk management implementation at IPB University indicates that risk management at IPB University has been implemented systematically and the implementation has referred to the standard consistently and comprehensively. Risk management has begun to be integrated to organization governance and management. The risk management competence, leadership, and commitment are starting to expand through the organization but the positive attitudes in managing risk is still tend to be limited.

Developing and implementing the risk management framework into business processes of Gazprom transgaz Tomsk Ltd., for implementation of the Eastern gas program of PJSC Gazprom

2020 ◽  
Vol 17 (1) ◽  
pp. 68-77
Author(s):  
V. E. Zaikovsky ◽  
A. V. Karev
Keyword(s):  
Risk Management ◽  
Human Resources ◽  
Management Information System ◽  
Business Processes ◽  
Project Success ◽  
Management Information ◽  
Timely Manner ◽  
Project Approach ◽  
Management Framework ◽  
Risk Management Framework

Project success depends on the ability to respond to risks and make correct decisions in a timely manner. The project approach provides a better framework for implementing a new management system into the company’s business processes. The risk management framework developed by the company comprises a risk management infrastructure, a set of standards, human resources, and a risk management information system. To improve staff compliance, it is necessary to provide training and to communicate the goals of the project effectively. It is also important to develop a motivation system because well trained and motivated staff are able to work more efficiently.

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