Impact of Risk Assessment Models on Risk Factors

2018 ◽  
pp. 134-153
Author(s):  
K. Madhu Kishore Raghunath ◽  
S. L. Tulasi Devi ◽  
Chandra Sekhar Patro
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Risk Management ◽  
Empirical Evidence ◽  
The Other ◽  
Risk Models ◽  
Public And Private ◽  
Risk Assessment Models ◽  
General Business ◽  
The Given

World is vicinity full of opportunities given the amount of economic and non-economic transactions taking place every moment. With ubiquitous opportunities all around, businesses can assume inherent risk everywhere in one or the other way. In this chapter, the authors have deliberated the general business scenario to prove the given inferences. The readers will come across why the risk management is gaining so much gravity and across risk strategy of top business players. The chapter will bring into light the various risk factors in business and study the various risk assessment models present to fortify the negativity of these risk factors. Simultaneously, the authors will draw empirical evidence on the effectiveness, qualitative and quantitative risk models have on risk factors in public and private business organisations.

Layers of Bias: A Unified Approach for Understanding Problems With Risk Assessment

2018 ◽  
Vol 46 (2) ◽  
pp. 185-209 ◽  
Author(s):  
Laurel Eckhouse ◽  
Kristian Lum ◽  
Cynthia Conti-Cook ◽  
Julie Ciccolini
Keyword(s):  
Risk Assessment ◽  
Criminal Justice ◽  
Justice System ◽  
Quantitative Risk Assessment ◽  
Risk Scores ◽  
Risk Models ◽  
Risk Assessment Models ◽  
Final Layer ◽  
The Supreme Court ◽  
Using Data

Scholars in several fields, including quantitative methodologists, legal scholars, and theoretically oriented criminologists, have launched robust debates about the fairness of quantitative risk assessment. As the Supreme Court considers addressing constitutional questions on the issue, we propose a framework for understanding the relationships among these debates: layers of bias. In the top layer, we identify challenges to fairness within the risk-assessment models themselves. We explain types of statistical fairness and the tradeoffs between them. The second layer covers biases embedded in data. Using data from a racially biased criminal justice system can lead to unmeasurable biases in both risk scores and outcome measures. The final layer engages conceptual problems with risk models: Is it fair to make criminal justice decisions about individuals based on groups? We show that each layer depends on the layers below it: Without assurances about the foundational layers, the fairness of the top layers is irrelevant.

scholarly journals EXOGENOUS AND ENDOGENOUS RISK FACTORS MANAGEMENT TO PREDICT SURRENDER BEHAVIOURS

2013 ◽  
Vol 43 (3) ◽  
pp. 373-398 ◽  
Author(s):  
Xavier Milhaud
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Solvency Ii ◽  
Risk Models ◽  
Endogenous Risk ◽  
European Directive ◽  
Long Time

AbstractInsurers have been concerned about surrenders for a long time especially in saving business, where huge sums are at stake. The emergence of the European directive Solvency II, which promotes the development of internal risk models (among which a complete unit is dedicated to surrender risk management), strengthens the necessity to deeply study and understand this risk. In this paper, we investigate the topics of segmenting and modelling surrenders in order to better take into account the main risk factors impacting policyholders' decisions. We find that several complex aspects must be specifically dealt with to predict surrenders, in particular the heterogeneity of behaviour as well as the context faced by the insured. Combining them, we develop a new methodology that seems to provide good results on given business lines, and that moreover can be adapted for other products with little effort.

Identification of risk factors to be considered for food establishments’ risk assessment models

2019 ◽  
Vol 11 ◽  
pp. 1-10 ◽  
Author(s):  
Manon Racicot ◽  
Romina Zanabria ◽  
Marie-Ève Paradis ◽  
Marie-Lou Gaucher ◽  
Julie Arsenault ◽  
...  
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Risk Assessment Models

scholarly journals Risk-assessment models for VTE and bleeding in hospitalized medical patients: an overview of systematic reviews

2020 ◽  
Vol 4 (19) ◽  
pp. 4929-4944
Author(s):  
Andrea J. Darzi ◽  
Allen B. Repp ◽  
Frederick A. Spencer ◽  
Rami Z. Morsi ◽  
Rana Charide ◽  
...  
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Systematic Reviews ◽  
Risk Of Bias ◽  
Clinical Expertise ◽  
Medical Patients ◽  
Vte Prophylaxis ◽  
Risk Assessment Models ◽  
Medical Inpatients ◽  
Overview Of Systematic Reviews

Abstract Multiple risk-assessment models (RAMs) for venous thromboembolism (VTE) in hospitalized medical patients have been developed. To inform the 2018 American Society of Hematology (ASH) guidelines on VTE, we conducted an overview of systematic reviews to identify and summarize evidence related to RAMs for VTE and bleeding in medical inpatients. We searched Epistemonikos, the Cochrane Database, Medline, and Embase from 2005 through June 2017 and then updated the search in January 2020 to identify systematic reviews that included RAMs for VTE and bleeding in medical inpatients. We conducted study selection, data abstraction and quality assessment (using the Risk of Bias in Systematic Reviews [ROBIS] tool) independently and in duplicate. We described the characteristics of the reviews and their included studies, and compared the identified RAMs using narrative synthesis. Of 15 348 citations, we included 2 systematic reviews, of which 1 had low risk of bias. The reviews included 19 unique studies reporting on 15 RAMs. Seven of the RAMs were derived using individual patient data in which risk factors were included based on their predictive ability in a regression analysis. The other 8 RAMs were empirically developed using consensus approaches, risk factors identified from a literature review, and clinical expertise. The RAMs that have been externally validated include the Caprini, Geneva, IMPROVE, Kucher, and Padua RAMs. The Padua, Geneva, and Kucher RAMs have been evaluated in impact studies that reported an increase in appropriate VTE prophylaxis rates. Our findings informed the ASH guidelines. They also aim to guide health care practitioners in their decision-making processes regarding appropriate individual prophylactic management.

Effectiveness of Risk Assessment Models in Business Decisions

2021 ◽  
pp. 1076-1096
Author(s):  
K. Madhu Kishore Raghunath ◽  
S L Tulasi Devi
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Risk Models ◽  
Business Decisions ◽  
Business Decision ◽  
Growth And Survival ◽  
Risk Assessment Models ◽  
Process Risk ◽  
The One ◽  
Infinite Dynamics

Survival being the rationale for every organisation, there are infinite dynamics which contribute to every organisations growth and survival. Weighing in all the dynamics available, if organisations have to contemplate on the one which acts as catalyst for ultimate survival it is business decision making process. Risk is an inherent ailment that exacerbates organisational decision making ever since the dawn of industrialization, with their reach proliferating ever since. In the present article, the authors articulate the effectiveness of risk assessment models on key business decisions to testify how risk models operate in isolation and when combined together. Authors also analyse the significant effect risk models have on business decision, which serves as justification for organisational efficiency.

scholarly journals Efficiency of caries risk assessment in young adults using Cariogram

2012 ◽  
Vol 06 (03) ◽  
pp. 270-279 ◽  
Author(s):  
Esra Uzer Celik ◽  
Necmi Gokay ◽  
Mustafa Ates
Keyword(s):  
Risk Assessment ◽  
Young Adults ◽  
Risk Model ◽  
Secretion Rate ◽  
The Other ◽  
Caries Risk ◽  
Caries Risk Assessment ◽  
Risk Models ◽  
Caries Increment ◽  
Caries Progression

ABSTRACTObjectives: The aims of this study were to: (1) evaluate the caries risk in young adults using Cariogram and (2) compare the efficiency of Cariogram with the regression risk models created using the same variables in Cariogram by examining the actual caries progression over a 2-year period.Methods: The aims of this study were to: (1) evaluate the caries risk in young adults using Cariogram and (2) compare the efficiency of Cariogram with the regression risk models created using the same variables in Cariogram by examining the actual caries progression over a 2-year period.Results: Diet frequency, plaque amount and secretion rate were significantly associated with caries increment (P<.05). Cariogram and the regression risk models explained the caries formation at a higher rate than single-variables. However, the regression risk model developed by diet frequency, plaque amount and secretion rate explained the caries formation similar to Cariogram, while the other regression model developed by all variables used in Cariogram explained the caries formation at a higher rate than this computer program.Conclusions: Cariogram is effective and can be used for caries risk assessment instead of single variables; however, it is possible to deve

A stakeholder-based risk assessment and intervention framework for international construction projects

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tao Wang ◽  
Shangde Gao ◽  
Pinchao Liao ◽  
Tsenguun Ganbat ◽  
Junhua Chen
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Risk Management ◽  
Construction Projects ◽  
Management Practices ◽  
Intervention Strategies ◽  
The Body ◽  
Content Type ◽  
International Construction ◽  
Project Objectives

Purpose The purpose of this paper is to construct a two-stage risk management framework for international construction projects based on the meta-network analysis (MNA) approach. A plethora of international construction studies seems to assume risks as independent and therefore, risk intervention strategies are usually critiqued as ineffective. Design/methodology/approach In the risk assessment stage, a multi-tiered risk network structure was developed with the project objectives, risk events, risk factors and stakeholders, and critical risk factors were selected based on a series of calculations. In the risk intervention stage, targeted risk intervention strategies were proposed for stakeholders based on the results of the first stage. A highway construction project in Eastern Europe was selected as a case study. Findings The results showed that 17 risk factors in three categories – external, stakeholder-related and internal – are critical, and the project manager, construction management department, supplier and contract department are the most critical stakeholders that affect the entire project performance. Based on the critical risk factors and project stakeholders, targeted risk intervention strategies were proposed. The risk assessment results of MNA were found to be more reliable and consistent with the project conditions than the risk matrix method; the risk intervention strategies of MNA can effectively address project objectives. Originality/value This study modeled risk priorities based on risk associations and put forward a new method for risk management, supplementing the body of knowledge of international construction. The results of this study are of critical importance in management practices.

Limits to natural disasters management: the influence of human behavior

2020 ◽  
Author(s):  
Jeroen Aerts
Keyword(s):  
Climate Change ◽  
Risk Assessment ◽  
Risk Management ◽  
Natural Disasters ◽  
Human Behavior ◽  
Flood Risk ◽  
Behavioral Adaptation ◽  
Risk Models ◽  
Physically Based ◽  
The Impact

&lt;p&gt;Despite billions of dollars of investments in disaster risk reduction (DRR), data over the period 1994- 2013 show natural disasters caused 1.35 million lives. Science respond with more timely and accurate information on the dynamics of risk and vulnerability of natural hazards, such as floods. This information is essential for designing and implementing effective climate change adaptation and DRR policies. However, how much do we really know about how the main agents in DRR (individuals, businesses, government, NGO) use this data? How do agents behave before, during, and after a disaster, since this can dramatically affect the impact and recovery time. Since existing risk assessment methods rarely include this critical &amp;#8216;behavioral adaptation&amp;#8217; factor, significant progress has been made in the scientific community to address human adaptation activities (development of flood protection, reservoir operations, land management practices) in physically based risk models.&lt;/p&gt;&lt;p&gt;This presentation gives an historic overview of the most important developments in DRR science for flood risk. Traditional risk methods integrate vulnerability and adaptation using a &amp;#8216;top- down&amp;#8217; scenario approach, where climate change, socio economic trends and adaptation are treated as external forcing to a physically based risk model (e.g. hydrological or storm surge model). Vulnerability research has made significant steps in identifying the relevant vulnerability indicators, but has not yet provided the necessary tools to dynamically integrate vulnerability in flood risk models.&lt;/p&gt;&lt;p&gt;However, recent research show novel methods to integrate human adaptive behavior with flood risk models. By integrating behavioral adaptation dynamics in Agent Based Risk Models, may lead to a more realistic characterization of the risks and improved assessment of the effectiveness of risk management strategies and investments. With these improved methods, it is also shown that in the coming decades, human behavior is an important driver to flood risk projections as compared to other drivers, such as climate change. This presentation shows how these recent innovations for flood risk assessment provides novel insight for flood risk management policies.&lt;/p&gt;

scholarly journals 434 Environmental Risk Assessment—A Nutrient Management Planning Strategy For Nursery and Greenhouse Systems

HortScience ◽  
2000 ◽  
Vol 35 (3) ◽  
pp. 468C-468
Author(s):  
John D. Lea-Cox
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Risk Management ◽  
Nutrient Management ◽  
Planning Process ◽  
Nutrient Loss ◽  
Assessment Process ◽  
Management Options ◽  
Management Planning ◽  
Nutrient Runoff

In 1998, the state of Maryland adopted some of the toughest nutrient management planning regulations in the Nation, requiring virtually all agricultural operations plan and implement nitrogen and phosphorus-based management plans by Dec. 2002. The nursery and greenhouse industry is faced with a far more complicated nutrient management planning process than traditional agronomic planning scenarios. Factors include a large number (>500) of plant species, various fertilization and irrigation strategies, with crop cycles ranging from 6 weeks (bedding plants) to upwards of 15 years for some tree species in field production, often with a lack of knowledge of specific nutrient uptake rates and utilization. In addition, unique infrastructural and site characteristics that contribute to water and nutrient runoff from each nursery contribute to a multitude of variables that should be considered in the planning process. The challenge was to identify a simple, effective process for nutrient management planning that would a) provide an accurate assessment of nutrient loss potential from this wide variety of production scenarios, b) identify those specific factors that contribute most to nutrient leaching and runoff, and c) provide a mechanism to economically assess the various risk management (mitigation) scenarios. This risk assessment process provides information on a number of fixed (site) and dynamic (management) variables for soils/substrates, irrigation and fertilization practices, together with any surface water management systems (e.g. containment ponds, riparian buffers). When all the risk factors for a nursery are evaluated and scored, the complete picture of risk assessment then emerges. By identifying higher risk factors and evaluating different risk management options, the grower and/or nutrient management planner can then choose economic alternatives to reduce the potential for nutrient runoff.

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