risk management system Articles

  • 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

  • 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

  • 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

  • Case study - California vineyard improves sludge movement with aeration

    Overview A California vineyard was faced with the challenge of meeting wastewater treatmentcompliance under a tight deadline defined by local regulators, while receiving ongoingodor complaints from the community. Challenges Extended periods of mismanagement from previous owners left the facility and the wastewater treatment system in disarray. ...

  • How data and analytics are keeping Philly’s water safe

    CH2M assisted Philadelphia to implement a Surveillance and Response System (SRS) demonstration project under the U.S. Environmental Protection Agency’s (EPA’s) Water Security Initiative. CH2M Global Director Smart Cities and Senior Technology Fellow Dr. Avinash S. Patwardhan and Ken Thompson, CH2M Deputy Director Intelligent Water Solutions and Senior ...


    By CH2M Hill Companies, Ltd.

  • 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

  • 10 things you need to know about the circular economy

    10 things you need to know about the circular economy A working circular economy could be a practical solution to the planet’s emerging resource problems. Here’s 10 facts you should know. 1. Why do we need one? The circular economy is touted as a practical solution to the planet’s emerging resource crunch. Reserves of key resources such ...


    By GPT Waste Management Ltd

  • 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 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 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

  • 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

  • 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 ...

  • 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 ...

  • 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

  • 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

  • Risk analysis for engineering management based on entropy method

    This paper puts forward the view that engineering management is an exoteric system, and abstracts it into an information system or an information channel. It abstracts the material and energy flow of the engineering management system into an information flow as well, and then uses the theory of information entropy to analyse the risks in engineering construction.Keywords: engineering management, ...


    By Inderscience Publishers

  • Payment systems, risk assessment and business continuity management in South Africa

    Business continuity management is a common business practice in a number of private sector business entities. Less is known about how public sector entities such as central banks ensure business continuity. This paper provides an analysis of the impact of financial and economic risks on the operation of payments systems in an emerging economy. A number of practical business continuity management ...


    By Inderscience Publishers

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