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The work and leisure environments
Published in Stephen Battersby, Clay's Handbook of Environmental Health, 2023
Jonathan Hayes, Stuart Wiggans
Risk management is a systematic approach to ensuring that risks affecting an organisation are identified and systematically addressed, using risk assessment and risk acceptability principles to determine the organisational attitude to the level of acceptable risk. Risks can be categorised into four risk categories: Financial risks (e.g., interest rates, ability to obtain credit);Strategic risks (e.g., demand for product, customer marketplace);Operational risks (e.g., regulatory, organisational culture, competition);Hazard risks (e.g., employees, public, property, environment). The risk management team would determine the risks, assess their impact using risk assessment and risk acceptability and then determine the priority the organisation gives to the risks on a value basis of likely impact on the organisation. A successful organisation would have in place a means whereby the board members own the risk register and take responsibility for managing risks within their spheres of influence [7].
Risk-taking: An opportunity to win in elite sports
Published in Guy André Boy, Edwige Quillerou, Risk-Taking, Prevention, and Design, 2023
Anne-Claire Macquet, Antoine Macquet, Liliane Pellegrin
The decision-maker weighs up the expected benefits and possible negative consequences of risk to decide whether to accept the potential risks (Fischoff, 2013). Risk can be acceptable in one situation but not in another if the associated benefits are different. The decision-maker can also take the risk of failing in some parts of a match, assuming temporary failures and disadvantages (i.e., opponents scoring) in order to achieve their main goal later (i.e., winning the match). Risk acceptance involves assessing the balance between the expected benefits of specific actions and strategies and possible negative consequences (i.e., costs). It is about weighing up the advantages and disadvantages, being aware that the decision-maker(s) might or might not achieve the goal, and assessing any circumstances that could jeopardize achievement of the goal. Risk acceptance is thus a two-step process: gauging possible risk and assessing the nature of potential damages if the risk comes to materialize (Cadet & Kouabenan, 2005). The decision-maker assesses which elements of the situation and consequences are acceptable, i.e., tolerable, manageable, or not, and beneficial or harmful, and defines the level of risk acceptance. Risk acceptance makes risk-taking an opportunity to achieve – or not achieve – the goal.
Defining IoT Systems Implementation Success
Published in Chuck Benson, Managing IoT Systems for Institutions and Cities, 2019
We can do this by looking at five traditional risk areas,16 growth in the attack surface area, and ability to manage this system (as well as manage existing IoT systems) based on finite resources. Five fairly traditional risk areas are ■ Reputational risk■ Operational risk■ Financial risk■ Compliance risk■ Strategic risk.
A risk allocation model among the elements of freeway projects in public-private partnership (PPP) method using integrated fuzzy multi-criteria decision-making techniques
Published in Australian Journal of Civil Engineering, 2023
Ebrahim Jokar, Babak Aminnejad, Alireza Lork
Risk management is a systematic process that involves identifying, analysing, and responding to project risks, in addition to maximising the probability and impacts of positive events and minimising the adverse effects and events (Ke, Wang, and Chan 2010). Infrastructure projects, especially those implemented with the PPP method, generally face risky conditions at all stages of the project, including the initial studies, designing, construction, and operation (Eybpoosh, Dikmen, and Birgonul 2011; Shrestha et al. 2017). This has led to many problems, such as rising costs and delays, waste of human resources, materials, and equipment. Considering the need to use the PPP method and its broad dimensions in the development of infrastructure projects, it is necessary to identify the risks in these projects accurately (Ke et al. 2010).
Supply chain risks and mitigation strategies in Turkey automotive industry: findings from a mixed-method approach
Published in Supply Chain Forum: An International Journal, 2022
Sinan Çıkmak, Mustafa Cahit Ungan
Risk mitigation strategies aim to reduce the likelihood of risks and risks’ adverse effects (Chang et al., 2015). After identifying the risks that cause disruptions, managers should choose effective risk mitigation practices suitable for their companies (Chopra and Sodhi 2004). However, managers face difficulties developing appropriate strategies in daily life due to the ever-increasing risks (Can Saglam, Yildiz Çankaya, and Sezen 2020). A risk mitigation strategy may have different effects on different types of risks. Also, a strategy may affect many various risks because the risks are often interrelated (Rajesh, Ravi, and Venkata Rao 2015). The choice of an appropriate strategy depends on the characteristics of the risk and the organization<apos;>s financial resources (Fan and Stevenson 2018).
Influence of road environmental elements on pedestrian and cyclist road crossing behaviour
Published in SICE Journal of Control, Measurement, and System Integration, 2021
Yuichi Saito, Fuma Kochi, Makoto Itoh, Takesato Fushima, Takashi Sugano, Yasunori Yamamoto
Risk management is the process of identifying hazards, assessing risks, and controlling risks to attain safety. The purpose of this study was to evaluate the influence that driving context-altering environmental elements exert on the road-crossing behaviour of pedestrians and cyclists. Thus, this study attempted to identify covert hazards (concealed pedestrians and cyclists). To investigate this, a near-miss incident database was used. Through a logistic regression analysis incorporating the annotations recorded in the database, we constructed a predictive model to identify covert hazards. The study demonstrated the feasibility of constructing a predictive model to identify covert hazards by using a set of environmental elements that alter the driving context based on a driver's point of view. Identifying the contextual information on road environment elements that contribute to the occurrence of pedestrian and cyclist road-crossing behaviour would be useful for acquiring hazard-anticipatory knowledge. Further investigation is required that could involve the addition of annotations along with the incorporation of additional training data to improve the prediction accuracy. The proposed future work is as follows: