Managing risk management knowledge

2019 ◽  
pp. 325-351
Author(s):  
Eduardo Rodriguez ◽  
John S. Edwards
Keyword(s):  
Risk Management ◽  
Management Knowledge ◽  
Managing Risk

CONCEPTUALISING RISK CULTURE ON ERM IMPLEMENTATION IN CONSTRUCTION COMPANIES

2020 ◽  
Vol 17 (1) ◽  
pp. 59
Author(s):  
Ching Ching Wong
Keyword(s):  
Risk Management ◽  
Risk Identification ◽  
The Body ◽  
Risk Indicators ◽  
Construction Companies ◽  
Risk Appetite ◽  
Risk Culture ◽  
Risk Treatment ◽  
Managing Risk ◽  
The Relationship

Enterprise Risk Management (ERM) is an effective technique in managing risk within an organization strategically and holistically. Risk culture relates to the general awareness, attitudes and behaviours towards risk management in an organisation. This paper presents a conceptual model that shows the relationship between risk culture and ERM implementation. The dependent variable is ERM implementation, which is measured by the four processes namely risk identification and risk assessment; risk treatment; monitor and consult; communicate and consult. The independent variables under risk culture are risk policy and risk appetite; key risk indicators; accountability; incentives; risk language and internal relationships. This study aims to empirically test the relationship between risk culture and ERM implementation among Malaysian construction public listed companies. Risk culture is expected to have direct effects and significantly influence ERM. This study contributes to enhance the body of knowledge in ERM especially in understanding significant of risk culture that influence its’ implementation from Malaysian perspective.

10. Designing an online curriculum supporting risk management and patient safety

2007 ◽  
Vol 30 (4) ◽  
pp. 33
Author(s):  
T. Gondocz ◽  
G. Wallace
Keyword(s):  
Risk Management ◽  
Medical Education ◽  
Patient Safety ◽  
Online Learning ◽  
Online Courses ◽  
Learning System ◽  
Online Curriculum ◽  
For Profit ◽  
Not For Profit ◽  
Managing Risk

The Canadian Medical Protective Association (CMPA) is a not for profit mutual defence organization with a mandate to provide medico-legal assistance to physician members and to educate health professionals on managing risk and enhancing patient safety. To expand the outreach to its 72,000 member physicians, the CMPA built an online learning curriculum of risk management and patient safety materials in 2006. These activities are mapped to the real needs of members ensuring the activities are relevant. Eight major categories were developed containing both online courses and articles. Each course and article is mapped to the RCPSC's CanMEDS roles and the CFPC's Four Principles. This poster shares the CMPA’s experience in designing an online patient safety curriculum within the context of medico-legal risk management and provides an inventory of materials linked to the CanMEDS roles. Our formula for creation of an online curriculum included basing the educational content on real needs of member physicians; using case studies to teach concepts; and, monitoring and evaluating process and outcomes. The objectives are to explain the benefits of curricular approach for course planning across the continuum in medical education; outline the utility of the CanMEDS roles in organizing the risk management and patient safety medical education curriculum; describe the progress of CMPA's online learning system; and, outline the potential for moving the curriculum of online learning materials and resources into medical schools.

scholarly journals Managing Risk Integration for Performance Orientation among Malaysian Firms

2018 ◽  
Vol 12 (1) ◽  
pp. 119
Author(s):  
Michael Tinggi ◽  
Shaharudin Jakpar ◽  
Ng Kim Hui
Keyword(s):  
Risk Management ◽  
Financial Crisis ◽  
Business Processes ◽  
Global Financial Crisis ◽  
Random Effect ◽  
Financial Risks ◽  
Performance Orientation ◽  
Managing Risk ◽  
Corporate Level

The study is potentially, to explore the effect of discounting for risk on performance of firms listed in Malaysian stocks’ market. Risk management has been part of the corporate philosophy in maximizing shareholders’ wealth and firms’ profit. Managing risk cannot be done in isolation. Too often common risks pertinent to operation, liquidity and financing may be taken for granted by many firms. Risks exist on stand alone, but its implication may negatively severe firms’ performance if not addressed or dealt with properly. Integrating and managing risks may potentially improve the quality of business processes, which may orientate towards attaining firms’ performance at the corporate level. The 2007 global financial crisis has incidentally highlighted the importance of integrating and managing risk and its effect on business. Empirical evidences from the Panel Random Effect (RE) analysis of the above companies showed that the firm’s ability to manage and integrate operating, liquidity, and financial risks steer the firms towards performance orientation.

scholarly journals The Impact of Internal, External and Enterprise Risk Management on the Performance of Micro, Small and Medium Enterprises

2019 ◽  
Vol 11 (7) ◽  
pp. 2172 ◽  
Author(s):  
Dewi Hanggraeni ◽  
Beata Ślusarczyk ◽  
Liyu Adhi Kasari Sulung ◽  
Athor Subroto
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Business Performance ◽  
Small And Medium Enterprises ◽  
West Sumatra ◽  
Management Factors ◽  
Managing Risk ◽  
Medium Enterprises ◽  
Additional Value ◽  
The Impact

This paper aims to develop the role of internal factors, external factors, and risk management variables on MSMEs’ business performance. This research was conducted in underdeveloped regions of five provinces, which includes 14 cities in Indonesia—East Java, West Sumatra, North Sumatra, West Nusa Tenggara, and East Nusa Tenggara. The Resource-based view and Market-based view methods were chosen to measure 1401 data of MSMEs. The data was collected using offline questionnaires then processed using SPSS. This paper demonstrates a remarkable outcome for MSMEs, showing the significant result of risk management factors that includes risk assessment of marketing and financial management. Other independent variables of internal, external, and risk management factors also show important outcomes on MSMEs performance. This paper offers additional value of the implementation of ERM in MSMEs, which are spread in underdeveloped regions in Indonesia. The findings shown that the activity of the enterprises in identifying and managing risk would bring up the significant effect on operational business performances.

scholarly journals Traditional ecological knowledge and flood risk management: A preliminary case study of the Rwenzori

2018 ◽  
Vol 10 (1) ◽  
Author(s):  
Bosco Bwambale ◽  
Moses Muhumuza ◽  
Martine Nyeko
Keyword(s):  
Risk Management ◽  
Collective Action ◽  
Traditional Ecological Knowledge ◽  
Flood Risk ◽  
Flood Risk Management ◽  
Ecological Knowledge ◽  
Flood Hazards ◽  
Structured Interviews ◽  
Indigenous Plants ◽  
Managing Risk

The shift from flood protection to flood risk management, together with recent arguments on incorporating culture in managing risk, underscores the application of traditional ecological knowledge (TEK) in managing disasters from flood hazards. Yet, documentation and incorporation of TEK into practice remains a challenge. This article contributes to addressing this challenge by exploring the existence of TEK to flooding in the Rwenzori Mountains, Uganda. Using semi-structured interviews, data were collected from residents of the Nyamwamba watershed where intense flash floods caused deadly impacts in May 2013. Collected data were analysed using content, thematic and interpretive analysis techniques. Results indicate that TEK is exhibited through various traditional ecological approaches (TEAs). Although endangered, TEAs (conducted through collective action for a communally accepted end) are framed in three main activities: (1) assessment and prediction of rainfall and flood by the traditional hydro-meteorologist (diviner) and the traditional rain forecaster (rainmaker); (2) the mountain cleansing ritual (which act as flood risk awareness platform); and (3) immunising riverine communities through planting certain indigenous plants, which improve hydrological systems through their high conservation value for native ecological diversity. As most TEAs are conducted through collective action, they represent a platform to understand local capacities and enhance adoption of measures, and/or a source of knowledge for new measures to address flood risk. Therefore, full-scale investigations of these TEAs, determining how relevant TEAs are fine-tuned, and (scientific) measures enculturated based on fine-tuned TEAs could result in effective flood risk management in various flood hotspots where TEAs influence action.

Strategies for Managing Risk on Pipeline Projects

2006 ◽  
Author(s):  
Peter Wallace ◽  
Mark Cohen ◽  
Guy Lembach ◽  
Matthew Murch ◽  
Reena Sahney
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Resource Constraints ◽  
Significant Risk ◽  
Regulatory Compliance ◽  
Risk Allocation ◽  
Capital Projects ◽  
Management Project ◽  
Managing Risk ◽  
Capital Construction

The risk factors pressuring pipeline projects are very similar to those that influence any capital construction project, except that the scale and complexity are magnified as are the consequences of even minor disruptions to the progress of the work. Essential to the successful planning, design, and construction of large capital projects is risk management. Project issues such as regulatory compliance, resource constraints, aggressive competition, and the access to and requirements of capital markets require aggressive and thorough risk management and control. Moreover, the ability to influence and mitigate cost and schedule risk decreases as the project progresses through the construction life cycle. This paper will discuss the major components of proper risk management including scoping, identification, analysis and evaluation, timely response, mitigation, control, and risk allocation using proven techniques. The significant risk areas in each phase of the project life cycle including, feasibility, planning and design, construction, and start up & turnover will also be discussed. This paper will also focus on tools and strategies in dealing with the common and costly areas of risk, particularly the use of CPM scheduling in the identification, control and quantification of risk management issues using statistical models, such as Monte Carlo simulations, and the use of CPM scheduling in the avoidance of claims will be highlighted.

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