Risk Management for Traditional and Innovative Contracts

2021 ◽  
pp. 86-108
Author(s):  
Omar A. Shalan
Keyword(s):  
Risk Management ◽  
End Users ◽  
Design Model ◽  
Crucial Aspect ◽  
Working Together

Risk management is a very crucial aspect in contracting; it has been an issue since the early days. This is becoming more and more challenging as new dimensions have entered the arena. With a lot of stakeholders working together to produce value, this includes contracts, providers, customers, and end users. The risk management paradigm has shifted and transformed multiple times in the recent years. This chapter is trying to touch on the risks associated with traditional contracts, then move ahead to suggest a design model for risks in innovative contracts. In between, the chapter is touching on points related to outsourcing and governance.

Working together for Successful Drilling through a Fault: Risk Management, Planning and Execution

2017 ◽  
Author(s):  
M. Yanez_Banda ◽  
A. Ruzhnikov ◽  
A. Kasimin ◽  
M. Husien ◽  
C. Malagon ◽  
...  
Keyword(s):  
Risk Management ◽  
Management Planning ◽  
Working Together ◽  
Risk Management Planning

Strategic Energy Risk Management for End Users

2004 ◽  
Vol 10 (1) ◽  
pp. 74-78 ◽  
Author(s):  
Sriram Vasudevan ◽  
Brennan Higgins
Keyword(s):  
Risk Management ◽  
End Users ◽  
Energy Risk Management

Social Entrepreneurial Ventures: On the Edge of Chaos?

2016 ◽  
Vol 6 (1) ◽  
Author(s):  
Colleen Robb ◽  
S. Jimmy Gandhi
Keyword(s):  
Risk Management ◽  
Complex Systems ◽  
Systemic Risk ◽  
Social Value ◽  
Management Approach ◽  
Systems Of Systems ◽  
Entrepreneurial Ventures ◽  
Edge Of Chaos ◽  
Systemic Risks ◽  
Working Together

AbstractThis paper proposes that social entrepreneurial ventures (SEVs) operate as systems of systems (SoS), a collection of complex systems working together to achieve an overall outcome in line with its mission. Previous literature shows that complexity theory is applicable to the unique structure of SEVs and the dual goals of creating economic and social value. We argue that not only are SEVs complex systems, but also operate as a SoS. As such, SEVs could greatly benefit from a general systemic risk management approach that is often applied to SoS. In order to explain our position, we consider an example of an existing SEV and apply these concepts to their operations. We also identify systemic risks in the example and show how the application of a systemic risk management approach can benefit SEVs.

scholarly journals User Safety and Security Experience: Innovation Through Design-Inspired Methods in Airports

2020 ◽  
pp. 53-61
Author(s):  
Ivano Bongiovanni
Keyword(s):  
Risk Management ◽  
Security Management ◽  
End Users ◽  
Airport Security ◽  
Organizational Resources ◽  
End User ◽  
Security Environment ◽  
The Future ◽  
User Value

Abstract An inextricable organizational dilemma characterizes risk management: when effective, risk management utilizes organizational resources to avoid superior damage. When not effective, it adds costs to unmanaged risks. This clashes with growing pressures on delivery of tangible value for end-users. Safety and security management aim at mitigating risks of safety or security nature. This chapter establishes a design-based framework to re-imagine the future of safety and security in an airport security environment. The chapter proposes a method for tangible, positive end-user value delivery. Our focus is on airport security where external users live a safety and security experience.

End-users’ perspectives on safety risks in different high-hazard industries

2018 ◽  
Vol 62 (1) ◽  
pp. 207-211
Author(s):  
Christopher M. Lilburne ◽  
Dale S. Temby ◽  
Audrey Leong ◽  
Maureen E. Hassall
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Oil And Gas ◽  
Human Perception ◽  
Risk Identification ◽  
End Users ◽  
Global Challenge ◽  
Work Related ◽  
High Hazard ◽  
Serious Injuries

Despite many improvements over the last century, serious injuries and work-related fatalities remain a significant global challenge in different high-hazard industries. Further reductions in incidents should happen with improved risk identification and control which relies on human perception and decision making. It is important to understand end-user perspectives in order to identify and design effective risk management artefacts. This paper discusses four studies of different high-hazard industry worker populations (agriculture, oil and gas, boardroom and industrial contracting) that were conducted to understand risk management practices and opportunities in different environments. The work demonstrates that it is possible to identify novel insights directly from end-users that can assist in prioritizing and clarifying further risk improvement opportunities and research needs.

scholarly journals Quantitative Model of Enterprise Financial Risk Management Based on Nonlinear Differential Equation

2021 ◽  
Vol 15 ◽  
pp. 1305-1313
Author(s):  
Hui Yang ◽  
Guixian Tian ◽  
Yongchao Tao
Keyword(s):  
Differential Equation ◽  
Risk Management ◽  
Nonlinear Differential Equation ◽  
Financial Risk ◽  
Nonlinear Differential Equations ◽  
Quantitative Model ◽  
Evaluation Index System ◽  
Design Model ◽  
Financial Risk Management ◽  
Evaluation Indexes

In order to accurately assess the financial risks of enterprises, a quantitative model of enterprise financial risk management based on nonlinear differential equations is designed. According to the hierarchical running track of enterprises, 30 evaluation indexes are selected, the index weights are determined, and the financial risk evaluation index system is constructed. Constructing allocation judgment matrix based on binary allocation scale value. Copula nonlinear differential equation is selected to comprehensively quantify the risk management of enterprise financial portfolio. Realize the quantitative model of enterprise financial risk management. The accuracy of the design model is verified by experiments. The results show that the upper quantile of the design model analysis is closer to the standard value, which is consistent with the actual situation and is effective

Improving Mining Equipment Safety Through Human-Centered Design

2016 ◽  
Vol 24 (3) ◽  
pp. 29-34 ◽  
Author(s):  
Tim Horberry ◽  
Robin Burgess-Limerick ◽  
Tristan Cooke ◽  
Lisa Steiner
Keyword(s):  
Risk Management ◽  
Mining Industry ◽  
End Users ◽  
Mining Equipment ◽  
Human Centered Design ◽  
Participatory Ergonomics ◽  
Equipment Safety ◽  
Fit For Purpose

The need for human-centered design in the mining industry to help develop safe and fit-for-purpose equipment is first described. A tool that was specifically developed for mobile mining equipment by the authors and colleagues is introduced; it combines the application of participatory ergonomics, qualitative risk management, and safe design. A case study using this tool for mobile mining equipment access and egress is then presented. The case study shows that focusing on end users and their tasks by means of a structured, human-centered process can help to produce safer redesigns of mining equipment.

scholarly journals Heuristics as Mental Shortcuts in Evaluating Interactive Systems

2018 ◽  
Vol 8 (4) ◽  
pp. 143 ◽  
Author(s):  
Amando, Jr. Pimentel Singun
Keyword(s):  
Design Process ◽  
Interaction Design ◽  
End Users ◽  
Interactive Systems ◽  
Design Model ◽  
Interactive System ◽  
Rules Of Thumb ◽  
User Centered

Heuristics refer to the specific “rules-of-thumb” discovered from knowledge or experience which can simplify the complexity of making judgments. Heuristics are mental shortcuts to draw conclusions when evaluating interactive systems. In this study, a set of heuristics had been discovered by end-users while developing a series of prototypes of a test blueprint system. This study suggests that the design process of an interactive system should cater to the following two (2) components, namely: technical heuristics and specialized domain heuristics. Heuristics from these components should be the emphasis during the evaluation of the interactive system that has been designed using a user-centered paradigm of development called the Interaction Design Model (IDM).

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