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Risk Based Technologies
by Raghu V. Prakash Prabhakar V. Varde Narendra S. JoshiThis book presents selected topics in implementing a risk-based approach for complex engineering systems in general, and nuclear plants in particular. It addresses gap areas in implementing the risk-based approach to design, operation and regulation, covering materials reliability, digital system reliability, software reliability, human factor considerations, condition monitoring and prognosis, structural aspects in risk-based design as well as the application aspects like asset management for first-of-their-kind projects, strategic management and other academic aspect. Chapters are authored by renowned experts who address some of the identified challenges in implementation of risk-based approach in a clear and cogent manner, using illustrations, tables and photographs for ease of communication. This book will prove useful to researchers, professionals, and students alike.
Risk Communication for the Future: Towards Smart Risk Governance and Safety Management (SpringerBriefs in Applied Sciences and Technology)
by Mathilde Bourrier Corinne BiederThe conventional approach to risk communication, based on a centralized and controlled model, has led to blatant failures in the management of recent safety related events. In parallel, several cases have proved that actors not thought of as risk governance or safety management contributors may play a positive role regarding safety. Building on these two observations and bridging the gap between risk communication and safety practices leads to a new, more societal perspective on risk communication, that allows for smart risk governance and safety management. This book is Open Access under a CC-BY licence.
Risk Evaluation And Climate Change Adaptation Of Civil Engineering Infrastructures And Buildings: Project RI-ADAPTCLIM
by Panagiotis KotronisThis book brings together a selection of the scientific results of the RI ADAPTCLIM project (International Network on Risk Assessment and Climatic Adaptation of Civil Engineering and Buildings Works). Funded by the Pays de la Loire region in France as part of the 2014 Stratégie Internationale call for projects, research teams from the scientific group LiRGeC (ECN, UN, IFSTTAR, CSTB) and several international partners contributed their human, experimental and digital resources. RI-ADAPTCLIM was established to study the short- and medium term effects of climatic conditions on buildings, infrastructures and the ground. Following an integrated, interdisciplinary and multi-physics approach, the researchers proposed decision support tools that would increase the resilience of structures and buildings against the impact of hazards due to climate change.
Risk Governance
by Urbano Fra. PaleoThis book explores the common language of politics, ecology and risk, and crosses their conceptual divides. It seeks to shed light on the underlying structural factors, processes, players and interactions in the risk scenario, all of which influence decision-making that both increases and reduces disaster risk. The first section explores risk governance under conditions of increasing complexity, diversity and change. The discussion includes chapters on The problem of governance in the risk society; Making sense of decentralization; Understanding and conceptualizing risk in large-scale social-ecological systems; The disaster epidemic and Structure, process, and agency in the evaluation of risk governance. Part II, focused on governance in regions and domains of risk, includes nine chapters with discussion of Climate governance and climate change and society; Climate change and the politics of uncertainty; Risk complexity and governance in mountain environments; On the edge: Coastal governance and risk and Governance of megacity disaster risks, among other important topics. Part III discusses directions for further advancement in risk governance, with ten chapters on such topics as the transition From risk society to security society; Governing risk tolerability; Risk and adaptive planning for coastal cities; Profiling risk governance in natural hazards contexts; Confronting the risk of large disasters in nature and Transitions into and out of a crisis mode of socio-ecological systems. The book presents a comprehensive examination of the complexity of both risk and environmental policy-making and of their multiple--and not always visible--interactions in the context of social-ecological systems. Just as important, it also addresses unseen and neglected complementarities between regulatory policy-making and ordinary individual decision-making through the actions of nongovernmental actors. A range of distinguished scholars from a diverse set of disciplines have contributed to the book with their expertise in many areas, including disaster studies, emergency planning and management, ecology, sustainability, environmental planning and management, climate change, geography, spatial planning, development studies, economy, political sciences, public administration, communication, as well as physics and geology.
Risk Governance of Offshore Oil and Gas Operations
by Michael Baram Ortwin Renn Preben Hempel Lindøe Michael Baram Preben Hempel LindøeThis book evaluates and compares risk regulation and safety management for offshore oil and gas operations in the United States, United Kingdom, Norway and Australia. It provides an interdisciplinary approach with legal, technological and sociological perspectives on efforts to assess and prevent major accidents and improve safety performance. Presented in three parts, it begins with a review of the factors involved in designing, implementing and enforcing a regulatory regime for industrial safety. It then evaluates the four regimes exploring the contextual factors that influence their design and implementation, their reliance on industrial expertise and standards and the use of performance indicators. Finally the book assesses the resilience of the Norwegian regime, its capacity to keep pace with new technologies and emerging risks, respond to near miss incidents, encourage safety culture, incorporate vested rights of labor, and perform inspection and self-audit functions. This book is relevant for those in government, business and academia, and anyone involved in offshore safety issues.
Risk Intelligent Supply Chains: How Leading Turkish Companies Thrive in the Age of Fragility
by Çağrı HaksözThe Turkish economy is very dynamic and growing at phenomenal speeds. For instance, Turkey’s first quarter GDP growth rate was 11 percent in 2011. This growth brings its own risks and benefits. The lessons learned from surviving and thriving in such an environment can be applied to supply chains in any country. Packed with interesting and timely examples from industries such as automotive, airline, and manufacturing, Risk Intelligent Supply Chains: How Leading Turkish Companies Thrive in the Age of Fragility presents strategic insights from various leading Turkish companies regarding their management of supply chain risks. Çağrı Haksöz brings the risk intelligent supply chain (RISC) concept to life for the first time. It answers the question of how to become a risk intelligent supply chain. He proposes the I-Quartet Model with four essential roles "Integrator, Inquirer, Improviser, and Ingenious," that any supply chain network must play to become risk intelligent. The book also presents never-before-published cases and practices of leading Turkish companies that thrive globally in the age of fragility with their supply chain risk intelligence. While providing real-life examples, the book also shares insights obtained in various scientific disciplines. It provides not only an industry focus but also details numerous industry approaches, analyzing their similarities and differences in a manner that allows each industry to learn from the other.
Risk Management
by Glen B. Alleman Jon M. QuigleyProject success is an elusive goal in every business or technical domain. Project failure usually results from unhandled risks to the technical, cost, and schedule aspects of the project. There are four primary root causes of project failure. Unrealistic performance expectation, with missing Measures of Effectiveness Unrealistic cost and schedule estimates based on inadequate risk adjusted growth models Inadequate assessment of risk and unmitigated exposure to these risks without proper handling strategies Unanticipated technical issues with alternative plans and solutions to maintain the effectiveness of the project processes and its deliverables Risk Management provides a comprehensive overview of the people, principles, processes, and practices as the fundamental base upon which an effective risk management system resides. However, this does not guarantee effective risk management and successful projects and businesses. The first half of the book describes risk management processes, as well as a delineation between risk and hazards and how these are connected. The second half of the book provides industry examples of the approach to risk management in specific context and with specific approaches and artifacts where applicable.The book focuses on risks created by uncertainty, their identification, and the corrective and preventive actions needed to address these risks to increase the probability of project success. The book’s goal is to provide a context-driven framework, developing a foundation for a rational approach to risk management that makes adaptation to circumstances as easy as possible.
Risk Management Applications Used to Sustain Quality in Projects: A Practical Guide (Quality Management and Risk Series)
by Abdul Razzak RumaneThis practical guide covers the steps necessary to sustain quality in a project from start to finish. The book shows how to identify risks at different processes, phases, and stages and offers directions on how to mitigate and reduce risks using analysis, evaluation, and monitoring. Risk Management Applications Used to Sustain Quality in Projects: A Practical Guide focuses on applying risk management principles to manage quality in all project management processes, stages, and phases. The book discusses the potential risks that may occur at the different phases of the project life cycle, their effects on projects, and how to prevent them. It explores all the process elements and activities of risk management and provides steps on how to make the project more qualitative, competitive, and economical. Risk management processes are discussed at each project management processes and project lifecycle phase/stage to help the reader understand how various risks can occur and how to mitigate and reduce them. The main audience for this book is project management professionals, quality managers, systems engineers, construction managers, and risk management professionals as well as industrial engineers, academics, and students.
Risk Management Framework for Fourth Industrial Revolution Technologies
by Omoseni Oyindamola Adepoju Nnamdi Ikechi Nwulu Love Opeyemi DavidThis book focuses on major challenges posed by the Fourth Industrial Revolution (4IR), particularly the associated risks. By recognizing and addressing these risks, it bridges the gap between technological advancements and effective risk management. It further facilitates a swift adoption of technology and equips readers with the knowledge to be cautious during its implementation. Divided into three parts, it covers an overview of 4IR and explores the risks and risk management techniques and comprehensive risk management framework specifically tailored for the 4IR.Features:• Establishes a risk management framework for Industry 4.0 technologies.• Provides a ‘one stop shop’ of different technologies emerging in the Fourth Industrial Revolution.• Follows a consistent structure for each key Industry 4.0 technology in separate chapters.• Details required risk management skills for the technologies of the Fourth Industrial Revolution.• Covers risk monitoring, control, and mitigation measures.This book is aimed at graduate students, technology enthusiasts, and researchers in computer sciences, technology management, business management, and industrial engineering.
Risk Management Methods in the Aviation Enterprise (Springer Aerospace Technology)
by Dmitry Alexandrovich Zatuchny Valery Dmitryevich Sharov Vadim Vadimovich VorobyovThis book provides a comprehensive content for professionals engaged in the development of flight safety regulatory framework, as well as in the design and operation of ground-based or on-board flight support radio electronic systems. It presents mathematical tools and methods of probabilistic theory, mathematical statistics and graph theory, along with some provisions of decision-making theory and multi-criteria analysis. This book helps as a good guide for those involved in aviation risk assessment and air traffic management.
Risk Management Practices in Construction: A Global View
by Ayodeji E. Oke Clinton O. Aigbavboa Pelumi E. Adetoro Seyi S. Stephen Lukman O. Oyewobi Douglas O. AghimienThis volume describes risk management practices in the construction industry in selected countries, with an emphasis on developing countries and how these countries can learn from the practices in more developed ones. Risk management in the construction industry can be difficult to understand due to the various complex procedures that are involved and to the unique concerns and contexts associated with each project. The industry has been a key contributor to the economic and social development of many countries of the world and is increasingly incorporating sustainability into its practices. However it is plagued by various risks that can affect the quality, cost, time and overall sustainability of projects. Therefore, there is need to effectively manage risk in order to ensure timely completion of construction projects in good quality and within budget, which in turn results in more efficient and often more sustainable practices. The book is divided into four parts. The first section features a primer on risk management practices as they pertain to the construction industry. The second part dives in to describe risk management in selected developing countries, including Malaysia, Qatar, Saudi-Arabia, South Africa, Sri-Lanka and Tanzania, as well as the city of Hong Kong. The third section describes the construction risk management practices of a selection of more developed countries with known risk management institutes and established practices of risk management. These countries include Australia, Canada, Sweden and United States of America. The fourth part offers a general overview of the definition, concepts and process of risk management based on reviewed literature. It also discusses the benefits of effective risk management to clients and to project teams, especially from the perspective of ensuring sustainability. This last section also summarizes the risk management practices in both developing and developed countries for the purpose of improving the practices in the former by learning from the latter.
Risk Management Technologies
by E. D. SolozhentsevThis book presents intellectual, innovative, information technologies (I3-technologies) based on logical and probabilistic (LP) risk models. The technologies presented here consider such models for structurally complex systems and processes with logical links and with random events in economics and technology. The volume describes the following components of risk management technologies: LP-calculus; classes of LP-models of risk and efficiency; procedures for different classes; special software for different classes; examples of applications; methods for the estimation of probabilities of events based on expert information. Also described are a variety of training courses in these topics. The classes of risk models treated here are: LP-modeling, LP-classification, LP-efficiency, and LP-forecasting. Particular attention is paid to LP-models of risk of failure to resolve difficult economic and technical problems. Amongst the discussed procedures of I3-technologies are the construction of LP-models, LP-identification of risk models; LP-risk analysis, LP-management and LP-forecasting of risk. The book further considers LP-models of risk of invalidity of systems and processes in accordance with the requirements of ISO 9001-2008, LP-models of bank operational risks in accordance with the requirements of Basel-2, complex risk LP-models for preventing ammunition depot explosions, enterprise electric power supply systems, debugging tests of technical systems, etc. The book also considers LP-models of credit risks, securities portfolios, operational risks in banking, conteraction of bribes and corruption, etc. A number of applications is given to show the effectiveness of risk management technologies. In addition, topics of lectures and practical computer exercises intended for a two-semester course "Risk management technologies" are suggested.
Risk Management and Governance: Concepts, Guidelines and Applications
by Ortwin Renn Terje AvenRisk is a popular topic in many sciences - in natural, medical, statistical, engineering, social, economic and legal disciplines. Yet, no single discipline can grasp the full meaning of risk. Investigating risk requires a multidisciplinary approach. The authors, coming from two very different disciplinary traditions, meet this challenge by building bridges between the engineering, the statistical and the social science perspectives. The book provides a comprehensive, accessible and concise guide to risk assessment, management and governance. A basic pillar for the book is the risk governance framework proposed by the International Risk Governance Council (IRGC). This framework offers a comprehensive means of integrating risk identification, assessment, management and communication. The authors develop and explain new insights and add substance to the various elements of the framework. The theoretical analysis is illustrated by several examples from different areas of applications.
Risk Management for Design and Construction
by Ovidiu Cretu Robert B. Stewart Terry BerendsThe essential risk assessment guide for civil engineering, design, and construction Risk management allows construction professionals to identify the risks inherent in all projects, and to provide the tools for evaluating the probabilities and impacts to minimize the risk potential. This book introduces risk as a central pillar of project management and shows how a project manager can be prepared for dealing with uncertainty. Written by experts in the field, Risk Management for Design and Construction uses clear, straightforward terminology to demystify the concepts of project uncertainty and risk. Highlights include: Integrated cost and schedule risk analysis An introduction to a ready-to-use system of analyzing a project's risks and tools to proactively manage risks A methodology that was developed and used by the Washington State Department of Transportation Case studies and examples on the proper application of principles Information about combining value analysis with risk analysis "This book is a must for professionals who are seeking to move towards a proactive risk-centric management style. It is a valuable resource for students who are discovering the intricacies of uncertainties and risks within value estimation. For professionals, the book advocates for identifying and analyzing 'only' risks whose impact are of consequence to a project's performance. " -JOHN MILTON, PhD, PE Director of Enterprise Risk Management, Washington State Department of Transportation
Risk Management for Engineering Projects
by Nolberto MunierCovers the entire process of risk management by providing methodologies for determining the sources of engineering project risk, and once threats have been identified, managing them through: identification and assessment (probability, relative importance, variables, risk breakdown structure, etc. ); implementation of measures for their prevention, reduction or mitigation; evaluation of impacts and quantification of risks and establishment of control measures. It also considers sensitivity analysis to determine the influence of uncertain parameters values on different project results, such as completion time, total costs, etc. Case studies and examples across a wide spectrum of engineering projects discuss such diverse factors as: safety; environmental impacts; societal reactions; time and cost overruns; quality control; legal issues; financial considerations; and political risk, making this suitable for undergraduates and graduates in grasping the fundamentals of risk management.
Risk Management for Geotechnical Engineering: Hazard, Risks and Consequences
by Duncan C. WyllieRisk Management for Geotechnical Engineering: Hazard, Risks and Consequences covers the application of risk management for soil and rock engineering projects, and the preparation of reliable designs that account for uncertainty.The book discusses qualitative risk assessments based on experience and judgement, as well as quantitative risk analysis using probabilistic methods and decision analysis to optimize designs. Many examples are included of how risk management can be applied to geotechnical engineering, with case studies presented for debris flows, rock falls, tunnel stability, and dam foundations. Also discussed are issues of liability insurance and contract law related to geotechnical engineering.This comprehensive book is ideal for practicing geotechnical engineers, addressing the challenges of making decisions in circumstances where uncertainties exist in site conditions, material properties and analysis methods.
Risk Management for Water Professionals: Technical, Psychological and Sociological Underpinnings (Routledge Focus on Environment and Sustainability)
by Anna KosovacThis book presents a comprehensive view of the different theories of risk management in water, drawing on recent studies that serve to inform the way that practitioners consider their own risk practice.While it is commonplace to see risk described in technical and engineering terms when discussing water, this book argues that this is a flawed practice that results in poor decision-making, particularly where water intersects with social elements and the community. Challenging these traditionally held notions of risk, this book introduces the psychological and sociological underpinnings to water risk decisions. Using these, it argues for a broader view of risk-based thinking and proposes a number of evidence-based actions for policymakers to directly implement. Drawing on primary research conducted with water professionals across a variety of roles, this book highlights how the effect of psychological inputs, such as dread and reputation, can create barriers to implementing novel water solutions or projects. Through understanding the biases covered in this book, water practitioners can work to support processes that seek to encourage new and innovative methods in water management.This book will be of great interest to professionals working in water management, including those in government roles, planning departments and consultancies. It is also a great reference for students of both water resource management and risk studies more generally.
Risk Management in Architectural Design
by Claudio MartaniThis book analyzes the risk management process in relation to building design and operation and on this basis proposes a method and a set of tools that will improve the planning and evaluation of design solutions in order to control risks in the operation and management phase. Particular attention is paid to the relationship between design choices and the long-term performance of buildings in meeting requirements expressing user and client needs. A risk dashboard is presented as a risk measurement framework that identifies and addresses areas of uncertainty surrounding the satisfaction of particularly relevant requirements over time. This risk dashboard will assist both designers and clients. It will support designers by enabling them to improve the maintainability of project performance and will aid clients both in devising a brief that emphasizes the most relevant aspects of maintainability and in evaluating project proposals according to long-term risks. The results of assessment of the proposed method and tools in tests run on a number of buildings of worship are also reported.
Risk Management in Civil Infrastructure (Civil Infrastructure Health and Sustainability)
by Sreenivas Alampalli Mohammed M. EttouneyThis book presents several original theories for risk, including Theory of Risk Monitoring, and Theory of Risk Acceptance, in addition to several analytical models for computing relative and absolute risk. The book discusses risk limit, states of risk, and the emerging concept of risk monitoring. The interrelationships between risk and resilience are also highlighted in an objective manner. The book includes several practical case studies showing how risk management and its components can be used to enhance performance of infrastructures at reasonable costs.
Risk Management in Engineering and Construction: Tools and Techniques (Spon Research)
by Stephen Ogunlana Prasanta Kumar DeyToday’s businesses are driven by customer ‘pull’ and technological ‘push’. To remain competitive in this dynamic business world, engineering and construction organizations are constantly innovating with new technology tools and techniques to improve process performance in their projects. Their management challenge is to save time, reduce cost and increase quality and operational efficiency. Risk management has recently evolved as an effective method of managing both projects and operations. Risk is inherent in any project, as managers need to plan projects with minimal knowledge and information, but its management helps managers to become proactive rather than reactive. Hence, it not only increases the chance of project achievement, but also helps ensure better performance throughout its operations phase. Various qualitative and quantitative tools are researched extensively by academics and routinely deployed by practitioners for managing risk. These have tremendous potential for wider applications. Yet the current literature on both the theory and practice of risk management is widely scattered. Most of the books emphasize risk management theory but lack practical demonstrations and give little guidance on the application of those theories. This book showcases a number of effective applications of risk management tools and techniques across product and service life in a way useful for practitioners, graduate students and researchers. It also provides an in-depth understanding of the principles of risk management in engineering and construction.
Risk Management in Finance and Logistics (Translational Systems Sciences #14)
by Chunhui Xu Takayuki ShiinaThis is the first book to introduce the major quantitative tools in risk management taking financial investments and logistics planning as the background: optimization and stochastic programming. Contained here are the fundamentals of portfolio selection theory from the point of view of risk control, and methods for risk control with new and popular risk measures such as VaR (Value-at-Risk) and CVaR (Conditional VaR). The book also introduces a new theory for risk management in more general investment situations such as flexible investment decisions, providing an accessible and comprehensive introduction to the interrelations between these fields of research. Basic concepts of stochastic programming are introduced, and their applications to risk management in inventory distribution and network design are covered as well. Illustrated by carefully chosen examples and supported by extensive data analyses, this book is highly recommended to readers who seek an in-depth and up-to-date integrated overview of the ever-expanding theoretical and quantitative fields of risk management in financial investment and logistics planning.
Risk Management in Project Organisations
by Peter Edwards Paul BowenThis book enhances the reader's understanding of the nature and presence of risk by raising the organisation's awareness of the risks it faces, and formalising the systems needed to deal with and learn from those risks.While based on the experience of the construction industry, the book also acts as a broader project management text, meeting the needs of project managers and students in many disciplines and professions from architecture and construction through engineering and commerce to IT, finance and banking. Essential for anyone studying or involved in organisational decision-making for projects, this book will help readers to develop confidence in dealing with risk in a systmatic manner.
Risk Management in Projects
by Martin Loosemore David Higgon John Raftery Charles ReillyProject managers in construction and civil engineering need to base their decisions on realistic information about risk and public perceptions of risk. This second edition of the original practical and straightforward text retains the easy-to-read format, but has been expanded to encompass the entire risk management process and to give a fuller presentation of how risk is generally perceived. Two new chapters cover risk identification and risk response, and the chapters on risk analysis have been completely reorganized. There is also greater emphasis on the theory behind the principles, and an expanded bibliography is given to guide an exploration of the subject in greater detail. The book demystifies risk management by presenting the subject in simple and practical terms, free of technical jargon, and case studies are used extensively to enliven the text and to illustrate the concepts discussed.
Risk Management of Non-Renewable Energy Systems
by Srividya Ajit Ajit Kumar Verma Hari Prasad MuruvaThis book describes the basic concepts of risk and reliability with detailed descriptions of the different levels of probabilistic safety assessment of nuclear power plants (both internal and external). The book also maximizes readers insights into time dependent risk analysis through several case studies, whilst risk management with respect to non renewable energy sources is also explained. With several advanced reactors utilizing the concept of passive systems, the reliability estimation of these systems are explained in detail with the book providing a reliability estimation of components through mechanistic model approach. This book is useful for advanced undergraduate and post graduate students in nuclear engineering, aerospace engineering, industrial engineering, reliability and safety engineering, systems engineering and applied probability and statistics. This book is also suitable for one-semester graduate courses on risk management of non renewable energy systems in all conventional engineering branches like civil, mechanical, chemical, electrical and electronics as well as computer science. It will also be a valuable reference for practicing engineers, managers and researchers involved in reliability and safety activities of complex engineering systems.
Risk Management: 10 Principles
by Jacqueline JeynesIn the same way as the 4Ps of marketing are a fundamental principle of business theory, this book puts forward the 10Ps of Risk Management as a consistent and comprehensive approach to the subject. The 10Ps of Risk Management offers a holistic approach, bringing together all elements of risk management for managers, safety and environmental consultants, business advisers and students on occupational health and safety and environmental studies courses.