operational risk management Articles

  • EHS and Operational Risk Management

    EHS and Operational Risk Management - a white paper exploring pro-active and integrated operational risk management strategy relied upon by successful businesses. Introduction Probably the most important factor in managing a successful business is the approach to risk management. Over recent years there has been a focus on managing financial risk. But risk goes beyond the finance function. The ...


  • City Of North Bay Uses Condition Assessment On Critical Force Main To Implement Asset Management Plan

    On one hand, it may seem like a waste of capital dollars if you perform a pipeline condition assessment and the final analysis turns up no leaks. Alternatively, you can also look at the no-leak report as a good news validation story, especially when using the information to help establish an asset management ...


    By Pure Technologies

  • Risk management in build-operate-transfer projects

    Construction projects are risky. A build-operate-transfer (BOT) project is recognised as one of the most risky project schemes. This scheme has been employed rather frequently in the past few decades, in both developed and developing countries. However, because of its risky nature, there have been failures as well as successes. Risk analysis in an appropriate way is desirable in implementing BOT ...


    By Inderscience Publishers

  • What 2017 holds for Energy from Waste in the UK

    The UK’s EfW industry has enjoyed two decades of stable investment under the public private partnership (PPP)/public finance initiative (PFI) regime. This has led to a reduction in the amount of biodegradable household waste sent to landfill via the construction of local authority-backed EfW plants and contributed to an increase in recycling rates by incorporating facilities that remove ...


    By GPT Waste Management Ltd

  • How a Specialized Automatic Control Valve Solved Flooding

    The Colombian area of Antioquia creates much of its clean power from hydropower plants along the Guadalupe River. The Guadalupe IV hydroelectric plant generates power with three vertical axis turbines that discharge water below the river level. To prevent flooding, however, the plant needed a solution that ensured the ejector ...


    By Singer Valve Inc.

  • Supply chain risk management

    The existing models utilise a mean value approach with deterministic failure cost to determine the optimal number of suppliers in the presence of supplier failure risks. The mean value approach assumes, the firm has a linear utility function with respect to the supply disruptions. For major disruptions that could threaten the survival of the firm, the linearity assumption is questionable. ...


    By Inderscience Publishers

  • Risk management programme for occupational safety and health in surface mining operations

    This paper describes a systematic risk analysis process for occupational safety and health (OSH). A concept of technological risk management and risk assessment is applied. A review of published risk management and assessment applications for various industries is presented and a generalised approach to risk management for OSH in surface mining is proposed. The approach consists of six phases. ...


    By Inderscience Publishers

  • Fugro Centralizes and Standardizes HSE Risk Management Across Global Business Operations

    When Netherlands-based Fugro (FUnderingstechniek en GROndmechanica) was founded in 1962, they began providing oil, gas, mining and civil engineering and construction companies with surveys of soil and rock data to help them make informed decisions about future operations. Today, the company serves corporations all around the world – with more than 12,000 employees working in Europe, Africa, ...


    By IHS

  • Risk and risk management in agriculture: an overview and empirical results

    The paper gives an overview of sources of risk and risk management strategies in agriculture. As risk is an inescapable fact of life, in particular in agriculture, farmers must try to manage risk effectively. Risk management is an integral part of good management of a farm, being a way to avoid losses and exploit opportunities. Results of a field survey with 731 Dutch livestock farmers are ...


    By Inderscience Publishers

  • Grain LNG Selects IHS Operational Risk Solution

    IHS (NYSE: IHS), the leading global source of information and analytics, today announced that Grain LNG -- a wholly owned subsidiary of international electricity and gas company National Grid -- has selected the IHS Operational Risk Solution to help it improve its management of change (MOC) process. The MOC process helps Grain LNG ensure that environmental, health and safety (EHS) risks are ...


    By IHS

  • Risk-based asset integrity management

    Within the area of management of process plant integrity, there has been a significant shift toward the adoption of risk-focused methods such as reliability centered maintenance (RCM) and risk based inspection (RBI), rather than following traditional preventative maintenance methods and prescriptive inspection intervals. There are various reasons for this trend, but the primary benefit that asset ...


    By ABS Consulting

  • Modelling and Managing Flood Risk and Flooding

    The UK’s prestigious Royal Society recently held a discussion group on the subject of Flood Management and Climate Change. With much of the Northern Hemisphere approaching the winter flooding season, we spoke to Wallingford Software’s David Fortune to find out the role of modelling in flood forecasting and flood management. He set out his ideas as follows: We must remember first that, while we ...


    By Innovyze

  • Risk Management: Sustainably Managing a Common Resource

    Introduction Danfoss is a global manufacturer of hermetic compressors, pumps, valves, motors and other electrical control units. The company owns a major manufacturing facility located on a small island, Als, in the Baltic Sea. In 1983 the company was routinely withdrawing two million cubic meters of fresh water from the sole aquifer which supplies the entire island, home to 50,000 residents. ...

  • Risk-based management of waterway safety

    Considering safety to be defined as an acceptable level of risk, waterway managers seek to minimise risks in order to maximise safety. Failures in waterway operations result in events that may require emergency response. A proactive management approach identifies potential risks (events, their likelihoods, and their adverse consequences) associated with waterway operations, and identifies areas ...


    By Inderscience Publishers

  • Natural disaster and financial risk management

    This paper explores and discusses the financial issues faced by firms in a natural disaster. It introduces the disaster risk environment and the factors that affect the operations of a firm. The implications of a natural disaster in terms of unsystematic and systematic risks, investment evaluation, strategic investment, and risk and compliance are addressed. It provides a framework to analyse the ...


    By Inderscience Publishers

  • Enterprise risk management, the new imperative

    Enterprise Risk Management (ERM) is a new, strategic imperative that is gaining momentum. Leaner operating models and global sourcing have made companies stand up and take notice: managing risk is important! And Health, Safety and Environment (HSE) risk is no exception. According to AMR Research, nearly half of surveyed companies plan to increase spending on Operational Risk Management ...


    By Lexicon Systems, LLC

  • Industrial risk management and international agreements

    This paper presents a review of the management of industrial safety on the basis of international agreements and institutions. It is written from the viewpoint of the national or international regulator. Focus is given to major hazard risks related to the chemical process industry. Firstly, the key technical elements of the process to assess and manage industrial risks are described together with ...


    By Inderscience Publishers

  • Managing hurricane risk in the Gulf of Mexico

    The 2004 and 2005 Gulf of Mexico hurricane seasons expanded the traditional definition of risk and asset management for the oil and gas industry. At the most important level, the industry did an excellent job of protecting the lives of people directly involved in operations. In addition, in the aftermath of Hurricanes Katrina and Rita, the industry expended an extraordinary effort in getting ...


    By ABS Consulting

  • Decision Support Tools Management/ Operation

    Floreto Floreto is a three-tier software application consisting of a User Interface, Functional Module and Database. It was developed for decision support in property level flood mitigation. As an outcome of the system, the mitigation scenarios for improvement of the built-on environment are obtained, based on the technically appropriate measures tailored to the users own property data and ...


    By IWA Publishing

  • Risk zoning and risk decision making

    Two requirements for responsible and coherent decision making about and management of risk creating technological activities are presented and defended, called the requirement of informed consent and the requirement of strict liability. The requirements are necessary in order to assure that decisions regarding hazardous technology respect ethical principles and result in social progress. The ...


    By Inderscience Publishers

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