risk assessment Articles
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Sensitivity and uncertainty issues in the integrated PRA studies
The performance of risk analyses in the Probabilistic Risk Assessment (PRA) format is being done based on various internationally accepted standards. As part of the compliance with those standards the issue of credibility of results of the levels 2 and 3 and their correlation with the results from deterministic analyses is a very important one. If these margins are properly identified, then the ...
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Risk evaluation of technology innovation in China's oil and gas industry
Oil and gas industries are technology intensive and appropriate risk evaluation is necessary. The Chinese oil and gas industry is in the development phase, thus risk assessments and mitigation is more important than pushing technological innovation. This paper compiles research of other experts in the field and evaluates innovation risk by using a multi–hierarchy grey method. The result shows ...
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Supply side risk assessment: an application of Yager's methodology based on fuzzy sets
This paper discusses the potential application of fuzzy set theory in the area of supply side risk assessment using linguistic variables/values. The application has been illustrated through its use in a process industry. Yager's methodology for ordinal multi-objective decisions based on fuzzy sets has been chosen since the model only demands ordinal information of expert's preferences and the ...
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Maintenance strategy for trunk mains: development and implementation of a high spatial resolution risk-based approach
This paper describes an enhanced concept for determining the right time and place for maintenance works (in this case rehabilitation and renewal), within the scope of a risk-based maintenance strategy for trunk mains, including a technical and economic risk assessment. The risks considered include damage caused by pipe failure (main burst) like revenue loss, third party property damage as well ...
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Determinants of non-performing loans and banking costs during the 1999-2001 Turkish banking crisis
Using original survey data collected by the authors we investigate the determinants of non-performing loans and costs in the Turkish banking sector during the crisis period of 1999-2001. Employing ordered choice models, we find that variables measuring unnecessary government intervention and loans given to related companies significantly influenced both non-performing bank loans and the overall ...
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Need is real for risk assessments of energy infrastructure
Damage to fixed and floating structures, pipelines, onshore terminals and refineries during the past few hurricane seasons has reinforced the need to develop accurate risk assessments not only to determine overall risks for particular operators but also to identify the components of that risk so that appropriate mitigations can be undertaken. Losses from hurricane damage are not limited to ...
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An approach to assess risks of carbon geological storage technology
Carbon geological storage (CGS) projects are designed to securely store carbon dioxide (CO2) for thousands of years. Because of this, there are several studies to evaluate the potential risks of long–term storage of CO2 in geological formations. This paper presents a new method for the qualitative risk assessment of CGS: the risk assessment of stored CO2 (RA–CO2) method. It consists of the ...
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Workforce diversity and risk assessment: ensuring everyone is covered
This report highlights the need to carry out inclusive risk assessment; to take into account the diversity of the workforce when assessing and managing risks. Workers are not all exposed to the same risks and some specific groups of workers are exposed to increased risks (or are subject to particular requirements). When we speak about workers exposed to ‘particular’ or ‘increased’ risks, we refer ...
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An introduction to the Special Issue: An overview, history and context for the consideration of risk in the built environment
Especially since the terrorist attacks in the USA in 2001, the public has become much more enlightened regarding the trade-off of risk and security among choices of investment in communities. This introductory paper suggests that this is an important time to share the broader, comparative issues of structural safety with respect to risk assessment and management in the built environment, i.e. the ...
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Incorporating parameter uncertainty into Quantitative Microbial Risk Assessment (QMRA)
Modern statistical models and computational methods can now incorporate uncertainty of the parameters used in Quantitative Microbial Risk Assessments (QMRA). Many QMRAs use Monte Carlo methods, but work from fixed estimates for means, variances and other parameters. We illustrate the ease of estimating all parameters contemporaneously with the risk assessment, incorporating all the parameter ...
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Turning life into life expectancy: the efficiency of life-saving interventions
A life-saving intervention, if truly it is to save life, should yield more life expectancy in good health than the amount of work time it takes to pay for it. Together with available cost-effectiveness data, this 'Time Principle' permits a separation of the efficient from the inefficient options among all life-saving interventions. The majority of known options for intervention are efficient ...
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Operating risk assessment for underground metal mining systems: overview and discussion
This paper provides an overview and discussion of important aspects of risk analysis that are relevant to underground metal mines operating risks assessment and the impact on mining project economics, using stochastic computer modelling, in Discounted Cash Flow (DCF) analysis. Mine operating risk assessment is presented in an overview of available risks evaluation tools that have been developed ...
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Steps to Ensuring a Successful Audit: Effective Risk Assessment Design
Abstract When designing a process, product quality is an important measure of success. To ensure product quality, it is imperative that the environment is monitored for contamination. The best way to locate sources of contamination is via risk assessment, best performed before a process has been implemented. There are multiple tools to assist in completing a risk assessment, and once completed, ...
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Ecological Risk Assessment
In recent years, ecological risk assessment (ERA) has emerged as an important part of environmental protection programs. The following discussion provides a brief overview of ERA issues. What is ecological risk assessment? Ecological risk assessment is the practice of determining the nature and likelihood of effects of our actions on animals, plants, and the environment. Ecological risk ...
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Legislating risk: the USA struggles to reform its policies for the assessment and management of risk
This paper focuses on recent efforts in the United States to improve the federal government's approach to regulating risk, with particular emphasis on legislation introduced in the Congress of the United States that was designed to reform and standardize risk assessment and risk management practices at the United States Environmental Protection Agency (EPA) and other federal agencies with ...
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Qualitative risk assessment for using a mature oil field as a pilot experiment of CO 2 geological storage in Brazil
The purpose of this paper is to apply a qualitative risk assessment method to a mature oil field as a pilot experiment of CO 2 geological storage in Brazil. This study was structured based on discussions with experts, analysis of available real data from field and literature databases. The results from the application of this method shows that most of the risk scenarios were predominantly ...
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Optimisation of security system design by quantitative risk assessment and genetic algorithms
The design of physical security systems for critical infrastructures is a delicate task that requires a balance between the cost of protection mechanisms and their expected effect on risk mitigation. This paper presents an approach usable to support the design of security systems by automatically optimising some parameters, basing on external constraints (e.g., limited available budget) and using ...
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Assessment of risks in new technologies: some empirical evidence from India
New technology commercialisation decisions assume vital significance in the present competitive corporate world. They create technology leaders, provide inherent strength for growth and to face the onslaught of competition. Obsolescence of existing technology and the threat of going out of business are coped with by keeping pace with technological developments and adoption thereof. Decisions on ...
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Comparative Risk Assessment
' Comparative risk assessment provides a systematic way to compare environmental problems that pose different types and degrees of health risk. It combines information on the inherent hazards of pollutants, exposure levels and population characteristics to predict the resulting health effects. Using data from available sources, rapid, inexpensive comparative risk assessments can identify the most ...
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Potential benefit, potential loss and potential gain from competing opportunity and failure events
A quantitative framework is presented dealing with competing opportunity and failure events in a finite time interval. The framework is based on the new fundamental concepts potential benefit, potential loss and potential gain, for which closed-form expressions regarding their distributions are derived and verified by a simulation. It is demonstrated that a decision strategy based on multiple ...
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