Search results for: earthquake risk
6279 Inflation Tail Risks and Asset Pricing
Authors: Sebastian Luber
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The study demonstrates that tail inflation risk is priced into stock returns and credit spreads. This holds true even when controlling for current and historical inflation moments. The analysis employs inflation caps and floors to obtain the distribution of future inflation under the risk-neutral measure. Credit spreads decrease as the mean and median of future inflation rise, but they respond positively to tail risks. Conversely, stocks serve as a robust hedge against future inflation. Stock returns increase with a higher mean and median of future inflation and rising inflationary tail risk, while they decrease with rising deflationary tail risk.Keywords: asset pricing, inflation expectations, tail risk, stocks, inflation derivatives, credit
Procedia PDF Downloads 226278 Geomorphology of Leyte, Philippines: Seismic Response and Remote Sensing Analysis and Its Implication to Landslide Hazard Assessment
Authors: Arturo S. Daag, Ira Karrel D. L. San Jose, Mike Gabriel G. Pedrosa, Ken Adrian C. Villarias, Rayfred P. Ingeniero, Cyrah Gale H. Rocamora, Margarita P. Dizon, Roland Joseph B. De Leon, Teresito C. Bacolcol
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The province of Leyte consists of various geomorphological landforms: These are: a) landforms of tectonic origin transect large part of the volcanic centers in upper Ormoc area; b) landforms of volcanic origin, several inactive volcanic centers located in Upper Ormoc are transected by Philippine Fault; c) landforms of volcano-denudational and denudational slopes dominates the area where most of the earthquake-induced landslide occurred; and d) Colluvium and alluvial deposits dominate the foot slope of Ormoc and Jaro-Pastrana plain. Earthquake ground acceleration and geotechnical properties of various landforms are crucial for landslide studies. To generate the landslide critical acceleration model of sliding block, various data were considered, these are: geotechnical data (i.e., soil and rock strength parameters), slope, topographic wetness index (TWI), landslide inventory, soil map, geologic maps for the calculation of the factor of safety. Horizontal-to-vertical spectral ratio (HVSR) surveying methods, refraction microtremor (ReMi), and three-component microtremor (3CMT) were conducted to measure site period and surface wave velocity as well as to create a soil thickness model. Critical acceleration model of various geomorphological unit using Remote Sensing, field geotechnical, geophysical, and geospatial data collected from the areas affected by the 06 July 2017 M6.5 Leyte earthquake. Spatial analysis of earthquake-induced landslide from the 06 July 2017, were then performed to assess the relationship between the calculated critical acceleration and peak ground acceleration. The observed trends proved helpful in establishing the role of critical acceleration as a determining factor in the distribution of co-seismic landslides.Keywords: earthquake-induced landslide, remote sensing, geomorphology, seismic response
Procedia PDF Downloads 1286277 Implementation of Risk Management System to Improve the Quality of Higher Education Institutes
Authors: Muhammad Wasif, Asif Ahmed Shaikh, Sarosh Hashmat Lodi, Muhammad Aslam Bhutto, Riazuddin
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Risk Management System is quite popular in profit- based organizations, health and safety and project management fields since the last few decades. But due to rapidly changing environment and requirement of ISO 9001:2015 standards, public-sector institution, especially higher education institutes are also performing risk assessment to monitor the performance of the institution and aligning it with the latest benchmark. In this context, NED University of Engineering and Technology performed research and developed a Standard Operating Procedure (SOP) for the risk assessment, its monitoring and control. In this research, risks are broken into the four sources, namely; Internal Academics Risks, External Academics Risks, Internal Non-academic Risks, External Non-academic Risks. Risks are identified by the management at all levels. Severity and likelihood of the risks are assigned based on the previous audit results and the customer complains. Risk Ratings are calculated to orderly arrange the risk according to the Risk Rating, and controls for the risks are designed, which are assigned to the responsible person. At the end of the article, result and analysis on the different sources of risk are discussed in details and the conclusion is drawn. Discussion on few sample risks are presented in this article. Hence it is presented in the research that the Risk Management System can be applied in a Higher Education Institute to effectively control the risks which might affect the scope and Quality Management System of an organization.Keywords: higher education, quality management system, risk assessment, risk management
Procedia PDF Downloads 3106276 Analysis of Factors Used by Farmers to Manage Risk: A Case Study on Italian Farms
Authors: A. Pontrandolfi, G. Enjolras, F. Capitanio
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The study analyses the strategies Italian farmers use to cope with the risks that face their production. We specifically explore the potential and the limitations of the economic tools for climatic risk management in agriculture of the Common Agricultural Policy 2014-2020, that foresees contributions for economic tools for risk management, in relation to farms’ needs, exposure and vulnerability of agricultural areas to climatic risk. We consider at the farm level approaches to hedge risks in terms of the use of technical tools (agricultural practices, pesticides, fertilizers, irrigation) and economic/financial instruments (insurances, etc.). We develop cross-sectional and longitudinal analyses as well as analyses of correlation that underline the main differences between the way farms adapt their structure and management towards risk. The results show a preference for technical tools, despite the presence of important public aids on economic tools such as insurances. Therefore, there is a strong need for a more effective and integrated risk management policy scheme. Synergies between economic tools and risk reduction actions of a more technical, structural and management nature (production diversification, irrigation infrastructures, technological and management innovations and formation-information-consultancy, etc.) are emphasized.Keywords: agriculture and climate change, climatic risk management, insurance schemes, farmers' approaches to risk management
Procedia PDF Downloads 3456275 Disaster Preparedness for People with Disabilities through EPPO's Educational Awareness Initiative
Authors: A. Kourou, A. Ioakeimidou, E. Pelli, M. Panoutsopoulou, V. Abramea
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Worldwide there is a growing recognition that education is a critical component of any disaster impacts reduction effort and a great challenge too. Given this challenge, a broad range of awareness raising projects at all levels are implemented and are continuously evaluated by Earthquake Planning and Protection Organization (EPPO). This paper presents an overview of EPPO educational initiative (seminars, lectures, workshops, campaigns and educational material) and its evaluation results. The abovementioned initiative is focused to aware the public, train teachers and civil protection staff, inform students and educate people with disabilities on subjects related to earthquake reduction issues. The better understating of how human activity can link to disaster and what can be done at the individual, family or workplace level to contribute to seismic reduction are the main issues of EPPO projects. Survey results revealed that a high percentage of teachers (included the ones of special schools) from all over the country have taken the appropriate preparedness measures at schools. On the other hand, the implementation of earthquake preparedness measures at various workplaces (kindergartens, banks, utilities etc.) has still significant room for improvement. Results show that the employees in banks and public utilities have substantially higher rates in preventive and preparedness actions in their workplaces than workers in kindergartens and other workplaces. One of the EPPO educational priorities is to enhance earthquake preparedness of people with disabilities. Booklets, posters and applications have been created with the financial support of the Council of Europe, addressed to people who have mobility impairments, learning difficulties or cognitive disability (ή intellectual disabilities). Part of the educational material was developed using the «easy-to-read» method and Makaton language program with the collaboration of experts on special needs education and teams of people with cognitive disability. Furthermore, earthquake safety seminars and earthquake drills have been implemented in order to develop children’s, parents’ and teachers abilities and skills on earthquake impacts reduction. To enhance the abovementioned efforts, EPPO is a partner at prevention and preparedness projects supported by EU Civil Protection Financial Instrument. One of them is E-PreS’ project (Monitoring and Evaluation of Natural Hazard Preparedness at School Environment). The main objectives of E-PreS project are: 1) to create smart tools which define, simulate and evaluate drills procedure at schools, centers of vocational training of people with disabilities or other workplaces, and 2) to involve students or adults with disabilities in the E-PreS system evacuation procedure in case of earthquake, flood, or volcanic occurrence. Two other EU projects (RACCE educational kit and EVANDE educational platform) are also with the aim of contributing to raising awareness among people with disabilities, students, teachers, volunteers etc. It is worth mentioning that even though in Greece many efforts have been done till now to build awareness towards earthquakes and establish preparedness status for prospective earthquakes, there are still actions to be taken.Keywords: earthquake, emergency plans, E-PreS project, people with disabilities, special needs education
Procedia PDF Downloads 2656274 Hybrid Risk Assessment Model for Construction Based on Multicriteria Decision Making Methods
Authors: J. Tamosaitiene
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The article focuses on the identification and classification of key risk management criteria that represent the most important sustainability aspects of the construction industry. The construction sector is one of the most important sectors in Lithuania. Nowadays, the assessment of the risk level of a construction project is especially important for the quality of construction projects, the growth of enterprises and the sector. To establish the most important criteria for successful growth of the sector, a questionnaire for experts was developed. The analytic hierarchy process (AHP), the expert judgement method and other multicriteria decision making (MCDM) methods were used to develop the hybrid model. The results were used to develop an integrated knowledge system for the measurement of a risk level particular to construction projects. The article presents a practical case that details the developed system, sustainable aspects, and risk assessment.Keywords: risk, system, model, construction
Procedia PDF Downloads 1676273 Detection of Change Points in Earthquakes Data: A Bayesian Approach
Authors: F. A. Al-Awadhi, D. Al-Hulail
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In this study, we applied the Bayesian hierarchical model to detect single and multiple change points for daily earthquake body wave magnitude. The change point analysis is used in both backward (off-line) and forward (on-line) statistical research. In this study, it is used with the backward approach. Different types of change parameters are considered (mean, variance or both). The posterior model and the conditional distributions for single and multiple change points are derived and implemented using BUGS software. The model is applicable for any set of data. The sensitivity of the model is tested using different prior and likelihood functions. Using Mb data, we concluded that during January 2002 and December 2003, three changes occurred in the mean magnitude of Mb in Kuwait and its vicinity.Keywords: multiple change points, Markov Chain Monte Carlo, earthquake magnitude, hierarchical Bayesian mode
Procedia PDF Downloads 4566272 Risk Management and Security Practice in Customs Supply Chain: Application of Cross ABC Method to the Moroccan Customs
Authors: Lamia Hammadi, Abdellah Ait Ouhman, Aomar Ibourk
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It is widely assumed that the case of Customs Supply Chain is classified as a complex system, due to not only the variety and large number of actors, but also their complex structural links, and the interactions between these actors, that’s why this system is subject to various types of Risks. The economic, political and social impacts of those risks are highly detrimental to countries, businesses and the public, for this reason, Risk management in the customs supply chain is becoming a crucial issue to ensure the sustainability, security and safety. The main characteristic of customs risk management approach is determining which goods and means of transport should be examined? To what extend? And where future compliance resources should be directed? The purposes of this article are, firstly to deal with the concept of customs supply chain, secondly present our risk management approach based on Cross Activity Based Costing (ABC) Method as an interactive tool to support decision making in customs risk management. Finally, analysis of case study of Moroccan customs to putting theory into practice and will thus draw together the various elements of a structured and efficient risk management approach.Keywords: cross ABC method, customs supply chain, risk, risk management
Procedia PDF Downloads 3796271 A Comparative Study of Substance Abusers and Non-Abusers on Peer Pressure, Tendency to Risk Taking Behavior and Anxiety
Authors: Musarrat Jabeen Khan, Uzma Azam, Kainat Umar, Jazba Amber Satti, Aiman Shehzadi, Nimo Omer
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This study aimed to examine the comparison between substance abusers and non-abusers on anxiety, peer pressure, and risk-taking behavior among young adults. The sample consisted of 138 individuals including 64 female and 71 males, age range from 17-35 years, drawn from non-clinical population through convenient sampling. Questionnaire technique was used for the information assortment and the scales were susceptibility to peer pressure (Dieman, Pamella, Shope & Butchart, 1987), Zung self-rating anxiety scale (Zung, 1971), and risk-taking questionnaire (Gullone, Moore, Moss & Boyd, 2000) having alpha reliability of .54, .88, and .80 respectively. Results showed that anxiety negatively correlates with the risk-taking behavior. High level of anxiety stops an individual to involve himself in risk taking activities. Peer pressure have positive correlation with risk-taking behavior. Females are more susceptible to peer pressure irrespective of being abusers or non-abusers as compared to male abusers and non-abusers. Substance abusers have less anxiety as compared to non-abusers but are more susceptible to peer pressure and risk-taking behaviors.Keywords: substance, substance abuse, anxiety, peer pressure, risk-taking behavior
Procedia PDF Downloads 1626270 Measuring Banking Risk
Authors: Mike Tsionas
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The paper develops new indices of financial stability based on an explicit model of expected utility maximization by financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be estimated using standard econometric techniques, like GMM for dynamic panel data and latent factor analysis for the estimation of co-variance matrices. An explicit functional form for the utility function is not needed and we show how measures of risk aversion and prudence (downside risk aversion) can be derived and estimated from the model. The model is estimated using data for Eurozone countries and we focus particularly on (i) the use of the modeling approach as an “early warning mechanism”, (ii) the bank- and country-specific estimates of risk aversion and prudence (downside risk aversion), and (iii) the derivation of a generalized measure of risk that relies on loan-price uncertainty.Keywords: financial stability, banking, expected utility maximization, sub-prime crisis, financial crisis, eurozone, PIIGS
Procedia PDF Downloads 3496269 Sensitivity of Credit Default Swaps Premium to Global Risk Factor: Evidence from Emerging Markets
Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz
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Risk premium of emerging markets are moving altogether depending on the momentum and shifts in the global risk appetite. However, the magnitudes of these changes in the risk premium of emerging market economies might vary. In this paper, we focus on how global risk factor affects credit default swaps (CDS) premiums of emerging markets using principal component analysis (PCA) and rolling regressions. PCA results indicate that the first common component accounts for almost 76% of common variation in CDS premiums of emerging markets. Additionally, the explanatory power of the first factor seems to be high over sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are employed to identify the macroeconomic factors driving the heterogeneity across emerging markets. There are two main macroeconomic variables that affect the sensitivity; government debt to GDP and international reserves to GDP. The countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.Keywords: emerging markets, principal component analysis, credit default swaps, sovereign risk
Procedia PDF Downloads 3816268 Earthquake Relocations and Constraints on the Lateral Velocity Variations along the Gulf of Suez, Using the Modified Joint Hypocenter Method Determination
Authors: Abu Bakr Ahmed Shater
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Hypocenters of 250 earthquakes recorded by more than 5 stations from the Egyptian seismic network around the Gulf of Suez were relocated and the seismic stations correction for the P-wave is estimated, using the modified joint hypocenter method determination. Five stations TR1, SHR, GRB, ZAF and ZET have minus signs in the station P-wave travel time corrections and their values are -0.235, -0.366, -0.288, -0.366 and -0.058, respectively. It is possible to assume that, the underground model in this area has a particular characteristic of high velocity structure in which the other stations TR2, RDS, SUZ, HRG and ZNM have positive signs and their values are 0.024, 0.187, 0.314, 0.645 and 0.145, respectively. It is possible to assume that, the underground model in this area has particular characteristic of low velocity structure. The hypocenteral location determined by the Modified joint hypocenter method is more precise than those determined by the other routine work program. This method simultaneously solves the earthquake locations and station corrections. The station corrections reflect, not only the different crustal conditions in the vicinity of the stations, but also the difference between the actual and modeled seismic velocities along each of the earthquake - station ray paths. The stations correction obtained is correlated with the major surface geological features in the study area. As a result of the relocation, the low velocity area appears in the northeastern and southwestern sides of the Gulf of Suez, while the southeastern and northwestern parts are of high velocity area.Keywords: gulf of Suez, seismicity, relocation of hypocenter, joint hypocenter determination
Procedia PDF Downloads 3586267 A Bayesian Classification System for Facilitating an Institutional Risk Profile Definition
Authors: Roman Graf, Sergiu Gordea, Heather M. Ryan
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This paper presents an approach for easy creation and classification of institutional risk profiles supporting endangerment analysis of file formats. The main contribution of this work is the employment of data mining techniques to support set up of the most important risk factors. Subsequently, risk profiles employ risk factors classifier and associated configurations to support digital preservation experts with a semi-automatic estimation of endangerment group for file format risk profiles. Our goal is to make use of an expert knowledge base, accuired through a digital preservation survey in order to detect preservation risks for a particular institution. Another contribution is support for visualisation of risk factors for a requried dimension for analysis. Using the naive Bayes method, the decision support system recommends to an expert the matching risk profile group for the previously selected institutional risk profile. The proposed methods improve the visibility of risk factor values and the quality of a digital preservation process. The presented approach is designed to facilitate decision making for the preservation of digital content in libraries and archives using domain expert knowledge and values of file format risk profiles. To facilitate decision-making, the aggregated information about the risk factors is presented as a multidimensional vector. The goal is to visualise particular dimensions of this vector for analysis by an expert and to define its profile group. The sample risk profile calculation and the visualisation of some risk factor dimensions is presented in the evaluation section.Keywords: linked open data, information integration, digital libraries, data mining
Procedia PDF Downloads 4266266 Development of Pediatric Medical Trauma Stress (PMTS) Among Children at Risk
Authors: Amichai Ben ari, Daniella Margalit
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Medical procedures, such as surgery, may have traumatic significance for some children. This study examines the relationship between maltreatment in children and the development Pediatric Medical Traumatic Stress (PMTS). To this end, differences in the level of distress of children after surgery were examined between two groups: children who were maltreated ("children at risk") and children from the control group ("children who are not at risk"). The study involved 230 parents of children who came to the hospital to undergo surgery. Parents filled out demographic questionnaires to measure socioeconomic variables and psychological questionnaires to measure the distress of the child and parent before surgery. After 6 months from the time of surgery, the parents again filled in the questionnaire measuring the child's distress. The results of the study showed that the level of distress experienced by children at risk after surgery was significantly higher relative to children who are not at risk. It was also found that the level of distress experienced by parents of children at risk in relation to their child’s surgery is significantly higher compared to parents of children who are not at risk. Finally, it was found that the variables: (1) pre-morbid psychological functioning of the child. (2) Parental and family functioning in daily life. (3) Exposure of the child to traumatic events. (4) Support factors for the family. Are variables that predict the development of PMTS in children after surgery, but only for children at risk and not for children who are not at risk. The significance of the findings in relation to the need to identify at-risk populations in the hospitals and the policies derived from them were discussed, and several directions were raised for further research.Keywords: children at risk, pediatric medical traumatic stress (PMTS), PTSD, medical procedures
Procedia PDF Downloads 1276265 Application Potential of Selected Tools in Context of Critical Infrastructure Protection and Risk Analysis
Authors: Hromada Martin
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Risk analysis is considered as a fundamental aspect relevant for ensuring the level of critical infrastructure protection, where the critical infrastructure is seen as system, asset or its part which is important for maintaining the vital societal functions. Article actually discusses and analyzes the potential application of selected tools of information support for the implementation and within the framework of risk analysis and critical infrastructure protection. Use of the information in relation to their risk analysis can be viewed as a form of simplifying the analytical process. It is clear that these instruments (information support) for these purposes are countless, so they were selected representatives who have already been applied in the selected area of critical infrastructure, or they can be used. All presented fact were the basis for critical infrastructure resilience evaluation methodology development.Keywords: critical infrastructure, protection, resilience, risk analysis
Procedia PDF Downloads 6386264 Production Structures of Energy Based on Water Force, Its Infrastructure Protection, and Possible Causes of Failure
Authors: Gabriela-Andreea Despescu, Mădălina-Elena Mavrodin, Gheorghe Lăzăroiu, Florin Adrian Grădinaru
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The purpose of this paper is to contribute to the enhancement of a hydroelectric plant protection by coordinating protection measures and existing security and introducing new measures under a risk management process. Also, the plan identifies key critical elements of a hydroelectric plant, from its level vulnerabilities and threats it is subjected to in order to achieve the necessary protection measures to reduce the level of risk.Keywords: critical infrastructure, risk analysis, critical infrastructure protection, vulnerability, risk management, turbine, impact analysis
Procedia PDF Downloads 5476263 Study of Seismic Behavior of an Earth Dam with Sealing Walls: The Case of Kef Eddir’s Dam, Tipaza, Algeria
Authors: M. Boumaiza, S. Mohamadi, B. Moussai
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In this article the study of the seismic response of an earth dam with sealing walls has been made by introducing the effect of the change of position and depth of the sealing wall and the effect of non-linear behavior of soil of the foundation by taking into account the variation of the viscous damping and shear modulus in each layer of soil on the seismic response of the dam. As a case study, we take the Algerian dam Kef-Eddir which lies in the far west of the territory of the Wilaya of Tipaza (wadi Eddamous), classified according to the RPA 2003 as a high seismicity zone (zone III). With a height of 71m above the foundation and a width of 478m. The seismic event applied to the rock, is the earthquake of Chenoua (29 October, 1989), with a magnitude Mw=6 that hit the region.Keywords: earth dam, earthquake, sealing walls, viscous damping
Procedia PDF Downloads 6076262 Assessment of Seismic Behavior of Masonry Minarets by Discrete Element Method
Authors: Ozden Saygili, Eser Cakti
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Mosques and minarets can be severely damaged as a result of earthquakes. Non-linear behavior of minarets of Mihrimah Sultan and Süleymaniye Mosques and the minaret of St. Sophia are analyzed to investigate seismic response, damage and failure mechanisms of minarets during earthquake. Selected minarets have different height and diameter. Discrete elements method was used to create the numerical minaret models. Analyses were performed using sine waves. Two parameters were used for evaluating the results: the maximum relative dislocation of adjacent drums and the maximum displacement at the top of the minaret. Both parameters were normalized by the drum diameter. The effects of minaret geometry on seismic behavior were evaluated by comparing the results of analyses.Keywords: discrete element method, earthquake safety, nonlinear analysis, masonry structures
Procedia PDF Downloads 3176261 Ground Motion Modelling in Bangladesh Using Stochastic Method
Authors: Mizan Ahmed, Srikanth Venkatesan
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Geological and tectonic framework indicates that Bangladesh is one of the most seismically active regions in the world. The Bengal Basin is at the junction of three major interacting plates: the Indian, Eurasian, and Burma Plates. Besides there are many active faults within the region, e.g. the large Dauki fault in the north. The country has experienced a number of destructive earthquakes due to the movement of these active faults. Current seismic provisions of Bangladesh are mostly based on earthquake data prior to the 1990. Given the record of earthquakes post 1990, there is a need to revisit the design provisions of the code. This paper compares the base shear demand of three major cities in Bangladesh: Dhaka (the capital city), Sylhet, and Chittagong for earthquake scenarios of magnitudes 7.0MW, 7.5MW, 8.0MW and 8.5MW using a stochastic model. In particular, the stochastic model allows the flexibility to input region specific parameters such as shear wave velocity profile (that were developed from Global Crustal Model CRUST2.0) and include the effects of attenuation as individual components. Effects of soil amplification were analysed using the Extended Component Attenuation Model (ECAM). Results show that the estimated base shear demand is higher in comparison with code provisions leading to the suggestion of additional seismic design consideration in the study regions.Keywords: attenuation, earthquake, ground motion, Stochastic, seismic hazard
Procedia PDF Downloads 2496260 Board Regulation and Its Impact on Composition and Effects: Evidence from German Cooperative Banks
Authors: Markus Stralla
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This study employs a GMM framework to examine the impact of potential regulatory intervention regarding the occupations of supervisory board members in cooperative banking. To achieve insights, the study proceeds in two different ways. First, it investigates the changes in board structure prior and following to the German Act to Strengthen Financial Market and Insurance Supervision (FinVAG). Second, the study estimates the influence of Ph.D.Share, professional concentration and supervisory power on bank-risk changes in consideration of the implementation of FinVAG. Therefore, the study is based on a sample of 246 German cooperative banks from 2006-2011 while applying four different measures of bank risk, namely credit-, equity-, liquidity-risk, and Z-Score, with the former three also being addressed in FinVAG. Results indicate that the implementation of FinVAG results in (most likely unintentional) structural changes, especially at the expense of farmers, and affects all risk measures and relations between risk measures and supervisory board characteristics in a risk-reducing and therefore intended way. To disentangle the complex relationship between board characteristics and risk measures, the study utilizes two-step system GMM estimator to account for unobserved heterogeneity and simultaneity in order to reduce endogeneity problems. The findings may be especially relevant for stakeholders, regulators, supervisors and managers.Keywords: bank governance, bank risk-taking, board of directors, regulation
Procedia PDF Downloads 4286259 Tools and Techniques in Risk Assessment in Public Risk Management Organisations
Authors: Atousa Khodadadyan, Gabe Mythen, Hirbod Assa, Beverley Bishop
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Risk assessment and the knowledge provided through this process is a crucial part of any decision-making process in the management of risks and uncertainties. Failure in assessment of risks can cause inadequacy in the entire process of risk management, which in turn can lead to failure in achieving organisational objectives as well as having significant damaging consequences on populations affected by the potential risks being assessed. The choice of tools and techniques in risk assessment can influence the degree and scope of decision-making and subsequently the risk response strategy. There are various available qualitative and quantitative tools and techniques that are deployed within the broad process of risk assessment. The sheer diversity of tools and techniques available to practitioners makes it difficult for organisations to consistently employ the most appropriate methods. This tools and techniques adaptation is rendered more difficult in public risk regulation organisations due to the sensitive and complex nature of their activities. This is particularly the case in areas relating to the environment, food, and human health and safety, when organisational goals are tied up with societal, political and individuals’ goals at national and international levels. Hence, recognising, analysing and evaluating different decision support tools and techniques employed in assessing risks in public risk management organisations was considered. This research is part of a mixed method study which aimed to examine the perception of risk assessment and the extent to which organisations practise risk assessment’ tools and techniques. The study adopted a semi-structured questionnaire with qualitative and quantitative data analysis to include a range of public risk regulation organisations from the UK, Germany, France, Belgium and the Netherlands. The results indicated the public risk management organisations mainly use diverse tools and techniques in the risk assessment process. The primary hazard analysis; brainstorming; hazard analysis and critical control points were described as the most practiced risk identification techniques. Within qualitative and quantitative risk analysis, the participants named the expert judgement, risk probability and impact assessment, sensitivity analysis and data gathering and representation as the most practised techniques.Keywords: decision-making, public risk management organisations, risk assessment, tools and techniques
Procedia PDF Downloads 2826258 Characterizing Multivariate Thresholds in Industrial Engineering
Authors: Ali E. Abbas
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This paper highlights some of the normative issues that might result by setting independent thresholds in risk analyses and particularly with safety regions. A second objective is to explain how such regions can be specified appropriately in a meaningful way. We start with a review of the importance of setting deterministic trade-offs among target requirements. We then show how to determine safety regions for risk analysis appropriately using utility functions.Keywords: decision analysis, thresholds, risk, reliability
Procedia PDF Downloads 3126257 Links between Landscape Management and Environmental Risk Assessment: Considerations from the Italian Context
Authors: Mara Balestrieri, Clara Pusceddu
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Issues relating to the destructive phenomena that can damage people and goods have returned to the centre of debate in Italy with the increase in catastrophic episodes in recent years in a country which is highly vulnerable to hydrological risk. Environmental factors and geological and geomorphological territorial characteristics play an important role in determining the level of vulnerability and the natural tendency to risk. However, a territory has also been subjected to the requirements of and transformations of society, and this brings other relevant factors. The reasons for the increase in destructive phenomena are often to be found in the territorial development models adopted. Stewardship of the landscape and management of risk are related issues. This study aims to summarize the most relevant elements about this connection and at the same time to clarify the role of environmental risk assessment as a tool to aid in the sustainable management of landscape. How planners relate to this problem and which aspects should be monitored in order to prepare responsible and useful interventions?Keywords: assessment, landscape, risk, planning
Procedia PDF Downloads 4636256 Introduction of the Harmfulness of the Seismic Signal in the Assessment of the Performance of Reinforced Concrete Frame Structures
Authors: Kahil Amar, Boukais Said, Kezmane Ali, Hannachi Naceur Eddine, Hamizi Mohand
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The principle of the seismic performance evaluation methods is to provide a measure of capability for a building or set of buildings to be damaged by an earthquake. The common objective of many of these methods is to supply classification criteria. The purpose of this study is to present a method for assessing the seismic performance of structures, based on Pushover method, we are particularly interested in reinforced concrete frame structures, which represent a significant percentage of damaged structures after a seismic event. The work is based on the characterization of seismic movement of the various earthquake zones in terms of PGA and PGD that is obtained by means of SIMQK_GR and PRISM software and the correlation between the points of performance and the scalar characterizing the earthquakes will be developed.Keywords: seismic performance, pushover method, characterization of seismic motion, harmfulness of the seismic
Procedia PDF Downloads 3836255 Analysis of Risk-Based Disaster Planning in Local Communities
Authors: R. A. Temah, L. A. Nkengla-Asi
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Planning for future disasters sets the stage for a variety of activities that may trigger multiple recurring operations and expose the community to opportunities to minimize risks. Local communities are increasingly embracing the necessity for planning based on local risks, but are also significantly challenged to effectively plan and response to disasters. This research examines basic risk-based disaster planning model and compares it with advanced risk-based planning that introduces the identification and alignment of varieties of local capabilities within and out of the local community that can be pivotal to facilitate the management of local risks and cascading effects prior to a disaster. A critical review shows that the identification and alignment of capabilities can potentially enhance risk-based disaster planning. A tailored holistic approach to risk based disaster planning is pivotal to enhance collective action and a reduction in disaster collective cost.Keywords: capabilities, disaster planning, hazards, local community, risk-based
Procedia PDF Downloads 2066254 Automated Manual Handling Risk Assessments: Practitioner Experienced Determinants of Automated Risk Analysis and Reporting Being a Benefit or Distraction
Authors: S. Cowley, M. Lawrance, D. Bick, R. McCord
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Technology that automates manual handling (musculoskeletal disorder or MSD) risk assessments is increasingly available to ergonomists, engineers, generalist health and safety practitioners alike. The risk assessment process is generally based on the use of wearable motion sensors that capture information about worker movements for real-time or for posthoc analysis. Traditionally, MSD risk assessment is undertaken with the assistance of a checklist such as that from the SafeWork Australia code of practice, the expert assessor observing the task and ideally engaging with the worker in a discussion about the detail. Automation enables the non-expert to complete assessments and does not always require the assessor to be there. This clearly has cost and time benefits for the practitioner but is it an improvement on the assessment by the human. Human risk assessments draw on the knowledge and expertise of the assessor but, like all risk assessments, are highly subjective. The complexity of the checklists and models used in the process can be off-putting and sometimes will lead to the assessment becoming the focus and the end rather than a means to an end; the focus on risk control is lost. Automated risk assessment handles the complexity of the assessment for the assessor and delivers a simple risk score that enables decision-making regarding risk control. Being machine-based, they are objective and will deliver the same each time they assess an identical task. However, the WHS professional needs to know that this emergent technology asks the right questions and delivers the right answers. Whether it improves the risk assessment process and results or simply distances the professional from the task and the worker. They need clarity as to whether automation of manual task risk analysis and reporting leads to risk control or to a focus on the worker. Critically, they need evidence as to whether automation in this area of hazard management leads to better risk control or just a bigger collection of assessments. Practitioner experienced determinants of this automated manual task risk analysis and reporting being a benefit or distraction will address an understanding of emergent risk assessment technology, its use and things to consider when making decisions about adopting and applying these technologies.Keywords: automated, manual-handling, risk-assessment, machine-based
Procedia PDF Downloads 1196253 Risk Measurement and Management Strategies in Poultry Farm Enterprises in Imo State, Nigeria
Authors: Donatus Otuiheoma Ohajianya, Augusta Onyekachi Unamba
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This study analyzed risk among poultry farm enterprises in Imo State of Nigeria. Specifically, it examined sources of risks, the major risks associated with poultry farm enterprise, and the risk-reducing strategies among the poultry farm enterprises in the study area. Primary data collected in 2015 with validated questionnaire from 120 proportionately and randomly selected poultry farm enterprises were used for the study. The data were analyzed with descriptive statistics and W-Statistic that was validated with Pearson Criterion (X2). The results showed that major risk sources affecting poultry farm enterprises were production, marketing, financial and political in that order. The results found a W-Statistic value of 0.789, which was verified by Pearson Criterion to obtain X2-Calculated value of 4.65 which is lower that X2-Critical value of 11.07 at 5% significant level. The risk-reducing strategies were found to be diversification, savings, co-operative marketing, borrowing, and insurance. It was recommended that government and donor agencies should make policies aimed at encouraging poultry farm enterprises adopt the highlighted risk-reducing strategies in risk management to improve their productivity and farm income.Keywords: risk, measurement, management, poultry farm, Imo State
Procedia PDF Downloads 3006252 Personality Traits, Probability of Marital Infidelity and Risk of Divorce
Authors: Bahareh Zare
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The theory of the investment model of dating infidelity maintains that loyalty is an essential power within romantic relationships. Loyalty signifies both motivation and psychological attachment to maintain a relationship. This study examined the relationship between the Big Five Personality Factors (Extraversion, Neuroticism, Openness, Conscientiousness, and Agreeableness), probability of marital infidelity, and risk of divorce. The participants completed NEO-FFI, INFQ (infidelity questionnaire) and were interviewed by OHI (Oral History Interview). The results demonstrated that extraversion and agreeableness traits were significant predictors for the probability of infidelity and risk of divorce. In addition, conscientiousness predicted the probability of infidelity, while neuroticism predicted the risk of divorce.Keywords: five factors personality, infidelity, risk of divorce, investment theory
Procedia PDF Downloads 946251 Prevalence of Diabetes Mellitus Type 2 Risk Factors among Nurses in Mongolia
Authors: V. Davaakhuu, D. Tserendagva, D. Amarsaikhan, T. Altanstetseg
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In this study we aimed to detect main risk factors for diabetes in Mongolia and obtain data we used survey modified questionnaire. Survey data were obtained from 634 valid nurses (day work nurses-317, shift work nurses-317). Participants who were pregnant, less than 20 years old and no check for fasting glucose level were excluded from the survey in order to determine the risk factors of diabetes. Our study result shows the main risk factors of diabetes were physical inactivity, overweight and obesity, alcohol and tobacco use and lack of vegetable and fruit consumption. Peripheral blood glucose level was normal in subjects with BMI 26.28 ± 0.56, but 20 % of the subjects with normal blood glucose level were obese. Blood glucose level was higher in subjects with BMI 28.63 ± 2.32 and 36 % of them were obese. According to our study results, 3.62% of the surveyed population were identified having no diabetes risk factors, 52.3% were at risk, 28.8% were in higher risk for diabetes by the WHO criteria. In general, the prevalence of blood glucose were especially higher in shift work nurses.Keywords: day work nurses, shift work nurses, BMI, WHR
Procedia PDF Downloads 5936250 A Study on Effect of Dynamic Loading Speed on the Fracture Toughness of Equivalent Stress Gradient (ESG) Specimen
Authors: Moon Byung Woo, Seok Chang-Sung, Koo Jae-Mean, Kim Sang-Young, Choi Jae Gu, Huh Nam-Su
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Recently, the occurrence of the earthquake has increased sharply and many of the casualties have occurred worldwide, due to the influence of earthquakes. Especially, the Fukushima nuclear power plant accident which was caused by the earthquake in 2011 has significantly increased the fear of people and the demand for the safety of the nuclear power plant. Thus, in order to prevent the earthquake accident at nuclear power plant, it is important to evaluate the fracture toughness considering the seismic loading rate. To obtain fracture toughness for the safety evaluation of nuclear power plant, it is desirable to perform experiments with a real scale pipe which is expensive and hard to perform. Therefore, many researchers have proposed various test specimens to replicate the fracture toughness of a real scale pipe. Since such specimens have several problems, the equivalent stress gradient (ESG) specimen has been recently suggested. In this study, in order to consider the effects of the dynamic loading speed on fracture toughness, the experiment was conducted by applying five different kinds of test speeds using an ESG specimen. In addition, after we performed the fracture toughness test under dynamic loading with different speeds using an ESG specimen and a standard specimen, we compared them with the test results under static loading.Keywords: dynamic loading speed, fracture toughness, load-ratio-method, equivalent stress gradient (ESG) specimen
Procedia PDF Downloads 309