risk assessment Articles
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Risk Assessment
Risk assessment is a step in a risk management procedure. Risk assessment is the determination of Quantitative or Qualitative value of risk related to a concrete situation and a recognized threat (also called hazard). Quantitative risk assessment requires calculations of two components of risk: R, the magnitude of the potential loss L, and the probability p, that the loss will occur. ...
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International management and risk assessment
This article presents the US experience from periodical business failures and collapses of the financial markets. It could be a lesson for the Central and Eastern European countries on their economies during the post-transition era. International management is one of the strongest aspects of major US corporations, and risk management is their day-to-day concern. It emphasises the importance of ...
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Better safe than sorry: experiences of large US corporations in their global operation
Data were collected on selected US corporations' perceptions of present and future political risk, political risk assessment variables, and assessment methods. The mean importance score of the political risk assessment variables and mean usefulness score of political risk assessment methods are presented in this study. Mean scores were also compared between the low and high-international ...
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Introduction. Ethical issues in risk assessment and management: a critical introduction
This paper provides an extended critical introduction to the special issue on Ethical issues in risk assessment and management.Keywords: ethical issues, risk assessment, risk management, ...
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Analysis and risk assessment resources planning project introducing information system
Management, distribution and control of resources in the realisation of projects of information systems are crucial to the success of the projects themselves. The paper presents a different process analysis and risk assessment planning resources on projects of implementing information system solutions through the understanding of the effects of deadlines, costs and quality. Starting from the ...
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Biotechnology and the precautionary principle
This paper examines the relationships between science and the precautionary principle and their policy and institutional implications for biotechnology. It acknowledges the divergent approaches adopted by different regions of the world in managing the risks associated with biotechnology. The paper notes that the divergent views about the application of the precautionary principle to risk ...
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Increasing the Impact of Risk Assessment
Improve your risk management programs over time and increase employee safety by making risk assessment a living part of your organisation. By implementing a ‘living’ risk assessment cycle and developing a safety culture, you can: Manage risk more effectively Be better prepared for litigation Reduce overall risk This paper will identify a standard (but weak) risk assessment ...
By Cority
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A test of the relationship between self-classified financial risk-tolerance and investment risk-taking behaviour
The purpose of this study was to determine how accurately individuals judge their own level of financial risk-tolerance and whether self-assessed financial risk-tolerance is associated with investment risk-taking behaviours. Using a sample of internet risk-assessment survey respondents (n = 1,740), it was concluded that individuals do a fair job of assessing their own level of financial ...
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Bow Tie - An elegant solution
Risk assessment lies at the heart of the joint IRM, AIRMIC and ALARM risk management standard. And one of the most powerful and increasingly popular risk assessment techniques is the ‘bow-tie’ method, so called because it describes themanagement of risk in the shape of a bow-tie. This method goes beyond the usual risk assessment snapshot and puts emphasis on the linkage between risk controls and ...
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Credibility in risk assessment: a normative approach
The methodology of risk assessment has been heavily criticised for a number of years, but its importance as a normative practice is, if anything, increasing in a society that is sceptical of special interests and expert bodies. This implies that it is becoming increasingly important to be normative about how risk assessment is conducted. The purpose of this paper is to describe a study aimed at ...
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On the boundaries of probabilistic risk assessment in the face of uncertainties, a case of piracy and armed robberies against ships in the Gulf of Aden
It is a common conception among many researchers and analysts, in particular social scientists, that using probabilistic risk assessment (PRA) when there are large uncertainties about likelihoods and outcomes is irrational, unscientific and potentially misleading. In this paper, we look more closely into this issue: the boundaries of PRAs when there are large uncertainties about the phenomena and ...
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Practical risk assessment with triangular distributions
Based on the familiar premise that risk is the product of two factors, probability and consequence (where the probability factor can be further decomposed into a threat factor and a vulnerability factor, if necessary), we determine the probability distribution of risk and show that there are four distinct parts to that distribution. We derive formulas for the probability density function and ...
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Designing a model for know-how commercialisation with risk assessment in R&D centres
Nowadays, developing and commercialising know-how in oil, gas and petrochemical are vital. Hence it is necessary to investigate different ways of commercialising in the development process. Because of inherent risk at each stage of different ways of commercialisation, it is necessary to carry out risk assessment for all stages. Risk assessment at different stages of know-how commercialisation ...
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Editorial: Dealing with technical risks in a region
The ETH Polyproject on 'Risk and Safety of Technical Systems' took the initiative to research various aspects related to regional risk assessment and safety management. This Editorial asks, What is integrated area risk assessment and safety management? It briefly considers how to define a region and the objectives and scope for an integrated regional risk assessment and safety management (IRRASM) ...
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Analogical gates - a network approach to multi-criteria aggregation with application in risk assessment
Analogical gates are developed to implement four-quadrant fuzzy-generalisation of Boolean logical gates. They provide an alternative to the traditional rule-based realisation of fuzzy inference. Therefore, analogical gates can be used in a wide range of applications especially for multi-criteria aggregation. In this paper, the basic properties of the analogical gates are reviewed, their ...
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Dairy case study
One of the world’s largest dairy product manufacturers realised that there was potentially a risk issue with one of the ingredients it used. The risk was purely hypothetical, there was no evidence of it ever having caused harm, but they knew that if the issue was raised by the regulator, they may have to cease production while a risk assessment was prepared. They therefore decided that they ...
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Fire risk assessment in buildings using fire protection software
In this investigation, we developed a methodology for inclusion of fire protection and used a methodological approach for fire risk assessment. Present practice of fire risk assessment and prevention measures in the Republic of Serbia is not systematic. To develop a methodological approach of fire risk assessment, a modified matrix for fire risk factors was set up that combines the implementation ...
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