risk management system Articles

  • UV Minimises Risks for Major Food Retailers

    For many years, one of the UK’s largest food manufacturers has made it their business to be the best at producing all manner of bespoke cooked and raw, ready-to-eat vegetables and carbohydrates for their customers, who include chilled food manufacturers, food-to-go operators and, of course, major supermarkets. Being the best means not only complying with food quality standards set by ...


    By atg UV Technology

  • Models for risk management of systems of systems

    This paper addresses the need for developing a body of prescriptive theory and methodology for modelling Systems of Systems (SoS). This will enable analysts to appropriately model and understand the SoS evolving behaviour due to the continued forced changes imposed on them. To place this need in historical perspective, the evolution of the field of systems engineering/analysis is briefly ...


    By Inderscience Publishers

  • Managing risk of liquidity: a new dimension of risk management

    Prudent liquidity risk management is a critical component of contemporary complex financial risk management. In the aftermath of the world financial crisis that started in 2007 the liquidity risk area received close attention from financial firms and regulators. The article begins with an introduction of the concept of liquidity risk management, a key component of the Basel III framework. The ...


    By Inderscience Publishers

  • Risk management of complex critical systems

    It is crucial to examine the changing panorama of vulnerabilities and criticalities in our increasingly interconnected world. Understanding the meaning of complexity and its implications allows us to see the interconnectedness of the world for enhanced risk management in technical and social systems. In this respect, a framework to assess complex systems is necessary to understand vulnerabilities ...


    By Inderscience Publishers

  • A solution to fracturing water supply and disposal issues

    “Water, water, everywhere, Nor any drop to drink.” –The Rime of the Ancient Mariner, Samuel Taylor Coleridge Many topics of conversation among oil and gas industry professionals are predictable – oil price trends, the “great shift change” imperiling the available workforce, and production quotas and caps from OPEC. Yet one pressing topic among those developing ...


    By Fairmount Santrol

  • Times are changing: Wastewater as a resource

    Times are definitely changing. It used to be that wastewater from whatever source – domestic, agricultural, industrial – was something to collect and pipe away as quickly and efficiently as possible. There was more water coming out of the ground or falling from the sky, so why bother investing time and money cleaning water that had already been used? Now, thanks to issues like ...

  • Risk management versus incentives

    Portfolio theory indicates that risk management should take place at the group level. Hedging at the project level or in the individual business areas may lead to suboptimal results. However, the efficiency of a profit centre depends on its management's being able to influence factors that are crucial to the unit's financial results. Price hedging could be one such factor. In the wider ...


    By Inderscience Publishers

  • Systemic project risk management - the way ahead

    Project Risk Management (PRM) has become recognised as an important part of project planning and management. This paper briefly outlines the current state of PRM in design and development projects The development of PRM tools based upon project decompositions has brought significant benefits. For modern highly complex projects, however, this has proved to have significant flaws, particularly ...


    By Inderscience Publishers

  • 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. ...

  • Leveraging Chemical Data to Manage Risk

    Even if chemicals aren’t central to your business, their hazards are likely pervasive across your supply chain. In fact, chemicals are one of the primary drivers of environmental, health and safety risk in virtually every organization. Both EPA and OSHA provide regulatory guidance based on the types and quantities of chemicals present at your facility. The Department of Transportation and ...

  • Multivariate methods in enterprise system implementation, risk management and change management

    This work is a first step towards the application of multivariate methods in risk management and change management in Enterprise System Implementation (ESI). ESI is characterised by concentrated efforts to integrate an IT system. Such projects typically experience unplanned problems and events, which may lead to major restructuring of the process. In this work, we rely on ESI theory developed by ...


    By Inderscience Publishers

  • A risk management framework for the regulation of nanomaterials

    Nanotechnology promises a plethora of benefits to society. Early research has established that some types of nanomaterials may be highly toxic to living systems, while others are seemingly inert. Nanotoxicology is a new field that has become the focus for risk assessment and management of nanomaterials. To address the potential risks either current chemical and particulate material regulations ...


    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

  • Are our Water Systems at Risk?

    Assessing the Financial Sustainability of BC’s Municipal Water and Sewer Systems Reliable water, sewer, and storm water systems are essential to public health, a clean environment, and a strong economy. But British Columbia’s systems may be at risk – aging infrastructure, growth, strengthened regulations, seismic risk, and climate change are driving the need for ...

  • Fire and Gas Protection Systems as Part of Safety Instrumented Systems and Risk Management

    Garth Watkins, Director Europe, Middle East, Africa, Detector Electronics Corporation, Presented at HazardEx International Conference 2008 Process-systems operators today face increasing demands for lower costs and higher safety standards in an increasingly regulated environment. In addition, companies desire to provide a working environment that is as safe as possible. As a result, plant owners ...

  • Corporate responsibility and systems thinking – tools for balanced risk management

    Corporate responsibility amounts to taking into consideration conditions and effects that are systematically linked to corporate action. Systems thinking and its variants offer tools for understanding and managing the multitudes of conditions and effects that constitute corporate responsibility. We look first at the general tools of systems thinking, and then at a case of Finnish forest industry, ...


    By Inderscience Publishers

  • Technologies of logic and probabilistic management of risk of social and economic systems

    We propose the risk of logic and probabilistic management technologies of social and economic systems for informational and analytical support of leaders and of managers to make decisions. We describe components of risk management technologies. We give an example of risk logic and probabilistic (LP) model of successful development of Russia. We state methods of quantitative LP–analysis and ...


    By Inderscience Publishers

  • Performance evaluation and risk management for industrial systems by using fuzzy controller

    In this work, we present a synthesis methodology of a multivariable fuzzy controller for the control of a multi-motor system (MMS) that can be intended for winding and unwinding controlled transport processes. The simulation results show that the integration of the fuzzy multivariable controller brought good performances compared to the multivariable PI-structure controller, and a clear ...


    By Inderscience Publishers

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