Search results for: public risk management organisations
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 18652

Search results for: public risk management organisations

18532 Risk Measure from Investment in Finance by Value at Risk

Authors: Mohammed El-Arbi Khalfallah, Mohamed Lakhdar Hadji

Abstract:

Managing and controlling risk is a topic research in the world of finance. Before a risky situation, the stakeholders need to do comparison according to the positions and actions, and financial institutions must take measures of a particular market risk and credit. In this work, we study a model of risk measure in finance: Value at Risk (VaR), which is a new tool for measuring an entity's exposure risk. We explain the concept of value at risk, your average, tail, and describe the three methods for computing: Parametric method, Historical method, and numerical method of Monte Carlo. Finally, we briefly describe advantages and disadvantages of the three methods for computing value at risk.

Keywords: average value at risk, conditional value at risk, tail value at risk, value at risk

Procedia PDF Downloads 440
18531 Public Perception of Energy Security in Lithuania: Between Material Interest and Energy Independence

Authors: Dainius Genys, Vylius Leonavicius, Ricardas Krikstolaitis

Abstract:

Energy security problems in Lithuania are analyzed on a regular basis; however, there is no comprehensive research on the very issue of the concept of public energy security. There is a lack of attention not only to social determinants of perception of energy security, but also a lack of a deeper analysis of the public opinion. This article aims to research the Lithuanian public perception of energy security. Complex tasks were set during the sociological study. Survey questionnaire consisted of different sets of questions: view of energy security (risk perception, political orientation, and energy security; comprehensiveness and energy security); view of energy risks and threats (perception of energy safety factors; individual dependence and burden; disobedience and risk); view of the activity of responsible institutions (energy policy assessment; confidence in institutions and energy security), demographic issues. In this article, we will focus on two aspects: a) We will analyze public opinion on the most important aspects of energy security and social factors influencing them; The hypothesis is made that public perception of energy security is related to value orientations: b) We will analyze how public opinion on energy policy executed by the government and confidence in the government are intertwined with the concept of energy security. Data of the survey, conducted on May 10-19 and June 7-17, 2013, when Seimas and the government consisted of the coalition dominated by Social Democrats with Labor, Order and Justice Parties and the Electoral Action of Poles, were used in this article. It is important to note that the survey was conducted prior to Russia’s occupation of the Crimea.

Keywords: energy security, public opinion, risk, energy threat, energy security policy

Procedia PDF Downloads 510
18530 Links between Landscape Management and Environmental Risk Assessment: Considerations from the Italian Context

Authors: Mara Balestrieri, Clara Pusceddu

Abstract:

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 462
18529 A BIM-Based Approach to Assess COVID-19 Risk Management Regarding Indoor Air Ventilation and Pedestrian Dynamics

Authors: T. Delval, C. Sauvage, Q. Jullien, R. Viano, T. Diallo, B. Collignan, G. Picinbono

Abstract:

In the context of the international spread of COVID-19, the Centre Scientifique et Technique du Bâtiment (CSTB) has led a joint research with the French government authorities Hauts-de-Seine department, to analyse the risk in school spaces according to their configuration, ventilation system and spatial segmentation strategy. This paper describes the main results of this joint research. A multidisciplinary team involving experts in indoor air quality/ventilation, pedestrian movements and IT domains was established to develop a COVID risk analysis tool based on Building Information Model. The work started with specific analysis on two pilot schools in order to provide for the local administration specifications to minimize the spread of the virus. Different recommendations were published to optimize/validate the use of ventilation systems and the strategy of student occupancy and student flow segmentation within the building. This COVID expertise has been digitized in order to manage a quick risk analysis on the entire building that could be used by the public administration through an easy user interface implemented in a free BIM Management software. One of the most interesting results is to enable a dynamic comparison of different ventilation system scenarios and space occupation strategy inside the BIM model. This concurrent engineering approach provides users with the optimal solution according to both ventilation and pedestrian flow expertise.

Keywords: BIM, knowledge management, system expert, risk management, indoor ventilation, pedestrian movement, integrated design

Procedia PDF Downloads 106
18528 PrEP and Risk: Challenges for an Emerging Sanitary Pact

Authors: Roberto Rubem Silva-Brandao, Aurea Maria Zollner Ianni

Abstract:

This article discusses the use and the incorporation of Pre-exposure Prophylaxis for HIV (PrEP) within a risk society context. Considering contemporary social theoreticians, we discuss implications of biotechnological uses for health enhancement. Firstly, we explore examples of biological manipulation and its consequences of use on given ecological dynamics, particularly taking into account other Sexually Transmitted Infections. In addition, we discuss how HIV resistance cases occurred with people on PrEP and its possible consequences on population-based interventions. Moreover, we present recent studies that analyze biological modifications on bodies of those who are on consistent use of PrEP, and how these body modifications are addressed on common practices of Public Health. Secondly, we present our theoretical references, which are intended to the analysis that situates our contemporary society in the reflexive stage of modernization. We discuss limits of biological use by individuals and how this can fabric feelings of freedom and autonomy within the individualization process and health. Finally, we argue that biotechnological uses on health, specifically on Public Health, tackling the risk aspects of its application, shows that another sanitary pact is needed.

Keywords: PrEP, public health, social sciences, risk society

Procedia PDF Downloads 391
18527 The Role of Information and Communication Technology to Enhance Transparency in Public Funds Management in the DR Congo

Authors: Itulelo Matiyabu Imaja, Manoj Maharaj, Patrick Ndayizigamiye

Abstract:

Lack of transparency in public funds management is observed in many African countries. The DR Congo is among the most corrupted countries in Africa, and this is due mainly to lack of transparency and accountability in public funds management. Corruption has a negative effect on the welfare of the country’s citizens and the national economic growth. Public funds collection and allocation are the major areas whereby malpractices such as bribe, extortion, embezzlement, nepotism and other practices related to corruption are prevalent. Hence, there is a need to implement strong mechanisms to enforce transparency in public funds management. Many researchers have suggested some control mechanisms in curbing corruption in public funds management focusing mainly on law enforcement and administrative reforms with little or no insight on the role that ICT can play in preventing and curbing the corrupt behaviour. In the Democratic Republic of Congo (DRC), there are slight indications that the government of the DR Congo is integrating ICT to fight corruption in public funds collection and allocation. However, such government initiatives are at an infancy stage, with no tangible evidence on how ICT could be used effectively to address the issue of corruption in the context of the country. Hence, this research assesses the role that ICT can play for transparency in public funds management and suggest a framework for its adoption in the Democratic Republic of Congo. This research uses the revised Capability model (Capability, Empowerment, Sustainability model) as the guiding theoretical framework. The study uses the exploratory design methodology coupled with a qualitative approach to data collection and purposive sampling as sampling strategy.

Keywords: corruption, DR congo, ICT, management, public funds, transparency

Procedia PDF Downloads 347
18526 The Effects of Knowledge Management on Human Capital towards Organizational Innovation

Authors: Wan Norhayate Wan Daud, Fakhrul Anwar Zainol, Maslina Mansor

Abstract:

The study was conducted to produce case studies from the Malaysian public universities stands point East Coast of Malaysia. The aim of this study is to analyze the effects of knowledge management on human capital toward organizational innovation. The focus point of this study is on the management member in the faculties of these three Malaysian Public Universities in the East Coast state of Peninsular Malaysia. In this case, respondents who agreed to further participate in the research will be invited to a one-hour face-to-face semi-structured, in-depth interview. As a result, the sample size for this study was 3 deans of Faculty of Management. Lastly, this study tries to recommend the framework of organizational innovation in Malaysian Public Universities.

Keywords: human capital, knowledge management, organizational innovation, public university

Procedia PDF Downloads 446
18525 Portfolio Management for Construction Company during Covid-19 Using AHP Technique

Authors: Sareh Rajabi, Salwa Bheiry

Abstract:

In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies.

Keywords: portfolio management, risk management, COVID-19, analytical hierarchy process technique

Procedia PDF Downloads 107
18524 Weighted Risk Scores Method Proposal for Occupational Safety Risk Assessment

Authors: Ulas Cinar, Omer Faruk Ugurlu, Selcuk Cebi

Abstract:

Occupational safety risk management is the most important element of a safe working environment. Effective risk management can only be possible with accurate analysis and evaluations. Scoring-based risk assessment methods offer considerable ease of application as they convert linguistic expressions into numerical results. It can also be easily adapted to any field. Contrary to all these advantages, important problems in scoring-based methods are frequently discussed. Effective measurability is one of the most critical problems. Existing methods allow experts to choose a score equivalent to each parameter. Therefore, experts prefer the score of the most likely outcome for risk. However, all other possible consequences are neglected. Assessments of the existing methods express the most probable level of risk, not the real risk of the enterprises. In this study, it is aimed to develop a method that will present a more comprehensive evaluation compared to the existing methods by evaluating the probability and severity scores, all sub-parameters, and potential results, and a new scoring-based method is proposed in the literature.

Keywords: occupational health and safety, risk assessment, scoring based risk assessment method, underground mining, weighted risk scores

Procedia PDF Downloads 133
18523 Financial Portfolio Optimization in Turkish Electricity Market via Value at Risk

Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: electricity market, portfolio optimization, risk management, value at risk

Procedia PDF Downloads 311
18522 Case Analysis of Bamboo Based Social Enterprises in India-Improving Profitability and Sustainability

Authors: Priyal Motwani

Abstract:

The current market for bamboo products in India is about Rs. 21000 crores and is highly unorganised and fragmented. In this study, we have closely analysed the structure and functions of a major bamboo craft based organisation in Kerela, India and elaborated about its value chain, product mix, pricing strategy and supply chain, collaborations and competitive landscape. We have identified six major bottlenecks that are prevalent in such organisations, based on the Indian context, in relation to their product mix, asset management, and supply chain- corresponding waste management and retail network. The study has identified that the target customers for the bamboo based products and alternative revenue streams (eco-tourism, microenterprises, training), by carrying out secondary and primary research (5000 sample space), that can boost the existing revenue by 150%. We have then recommended an optimum product mix-covering premium, medium and low valued processing, for medium sized bamboo based organisations, in accordance with their capacity to maximize their revenue potential. After studying such organisations and their counter parts, the study has established an optimum retail network, considering B2B, B2C physical and online retail, to maximize their sales to their target groups. On the basis of the results obtained from the analysis of the future and present trends, our study gives recommendations to improve the revenue potential of bamboo based organisation in India and promote sustainability.

Keywords: bamboo, bottlenecks, optimization, product mix, retail network, value chain

Procedia PDF Downloads 216
18521 The Concept and Practice of Good Governance in the European Union

Authors: Robert Grzeszczak

Abstract:

The article deals with one of the most significant issues concerning the functioning of the public sector in the European Union. The objectives of good governance were formulated by the EU itself and also the Scholars in reaction to the discussion that started a decade ago and concerned the role of the government in 21st century, the future of integration processes and globalization challenges in Europe. Currently, the concept of good governance is mainly associated with the improvement of management of public policies in the European Union, concerning both domestic and EU policies. However, it goes beyond the issues of state capacity and effectiveness of management. Good governance relates also to societal participation in the public administration and verification of decisions made in public authorities’ (including public administration). Indirectly, the concept and practice of good governance are connected to societal legitimisation of public bodies in the European Union.

Keywords: good governance, government, European law, European Union

Procedia PDF Downloads 560
18520 Central African Republic Government Recruitment Agency Based on Identity Management and Public Key Encryption

Authors: Koyangbo Guere Monguia Michel Alex Emmanuel

Abstract:

In e-government and especially recruitment, many researches have been conducted to build a trustworthy and reliable online or application system capable to process users or job applicant files. In this research (Government Recruitment Agency), cloud computing, identity management and public key encryption have been used to management domains, access control authorization mechanism and to secure data exchange between entities for reliable procedure of processing files.

Keywords: cloud computing network, identity management systems, public key encryption, access control and authorization

Procedia PDF Downloads 357
18519 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

Abstract:

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 545
18518 Risk Assessment and Management Using Machine Learning Models

Authors: Lagnajeet Mohanty, Mohnish Mishra, Pratham Tapdiya, Himanshu Sekhar Nayak, Swetapadma Singh

Abstract:

In the era of global interconnectedness, effective risk assessment and management are critical for organizational resilience. This review explores the integration of machine learning (ML) into risk processes, examining its transformative potential and the challenges it presents. The literature reveals ML's success in sectors like consumer credit, demonstrating enhanced predictive accuracy, adaptability, and potential cost savings. However, ethical considerations, interpretability issues, and the demand for skilled practitioners pose limitations. Looking forward, the study identifies future research scopes, including refining ethical frameworks, advancing interpretability techniques, and fostering interdisciplinary collaborations. The synthesis of limitations and future directions highlights the dynamic landscape of ML in risk management, urging stakeholders to navigate challenges innovatively. This abstract encapsulates the evolving discourse on ML's role in shaping proactive and effective risk management strategies in our interconnected and unpredictable global landscape.

Keywords: machine learning, risk assessment, ethical considerations, financial inclusion

Procedia PDF Downloads 71
18517 Analysis of Developments in the Understanding of In-Service Training in Turkish Public Administration: Personnel Management to Human Resource Management

Authors: Sema Müge Özdemiray

Abstract:

In line with the new public management approach to provide effective and efficient services necessary to achieve the social goals of public institutions, employees must have the knowledge and skills required by the age. In conjunction with the transition from personnel management to human resources management, it is seen that there is a change in the understanding of in-service training, the understanding of "required in-service training" has switched to the understanding of "continuous in-service training". However, in terms of in-service training in Turkey, it seems to be trouble at the point of adopting to change. The main purpose of this study is to primarily create a conceptual framework of in-service training and subsequently determine, analyze and discuss the developments and problems faced by in-service training in Turkey in the transition from personnel management to human resources management. In accordance with this purpose, the necessary data of this study were collected using qualitative approaches. Observation and document analysis was used and content analysis was performed on the data gathered in the study. The results of this study, according to data such as the number of institutions requesting in-service training, allocated budget of in-service training, the number of people participating in such training, transition of personnel management to human resources management should not lead to a paradigm shift in Turkey’s understanding of in-service training, although this is compulsory for public institutions in accordance with the law in Turkey. In-service training in Turkish public administration is still not implemented effectively and is seen as a social activity for employees and a formality for institutions.

Keywords: Human resources management, in service training, personnel management, public institutions

Procedia PDF Downloads 319
18516 The Impact of Public Finance Management on Economic Growth and Development in South Africa

Authors: Zintle Sikhunyana

Abstract:

Management of public finance in many countries such as South Africa is affected by political decisions and by policies around fiscal decentralization amongst the government spheres. Economic success is said to be determined by efficient management of public finance and by the policies or strategies that are implemented to support efficient public finance management. Policymakers focus on pay attention to how economic policies have been implemented and how they are directed into ensuring stable development. This will allow policymakers to address economic challenges through the usage of fiscal policy parameters that are linked to the achieved rate of economic growth and development. Efficient public finance management reduces the likelihood of corruption and corruption is said to have negative effects on economic growth and development. Corruption in public finance refers to an act of using funds for personal benefits. To achieve macroeconomic objectives, governments make use of government expenditure and government expenditure is financed through tax revenue. The main aim of this paper is to investigate the potential impact of public finance management on economic growth and development in South Africa. The secondary data obtained from the South African Reserve Bank (SARB) and World Bank for 1980- 2020 has been utilized to achieve the research objectives. To test the impact of public finance management on economic growth and development, the study will use Seeming Unrelated Regression Equation (SURE) Modelling that allows researchers to model multiple equations with interdependent variables. The advantages of using SUR are that it efficiently allows estimation of relationships between variables by combining information on different equations and SUR test restrictions that involve parameters in different equations. The findings have shown that there is a positive relationship between efficient public finance management and economic growth/development. The findings also show that efficient public finance management has an indirect positive impact on economic growth and development. Corruption has a negative impact on economic growth and development. It results in an efficient allocation of government resources and thereby improves economic growth and development. The study recommends that governments who aim to stimulate economic growth and development should target and strengthen public finance management policies or strategies.

Keywords: corruption, economic growth, economic development, public finance management, fiscal decentralization

Procedia PDF Downloads 200
18515 Public Participation Best Practices in Environmental Decision-making in Newfoundland and Labrador: Analyzing the Forestry Management Planning Process

Authors: Kimberley K. Whyte-Jones

Abstract:

Public participation may improve the quality of environmental management decisions. However, the quality of such a decision is strongly dependent on the quality of the process that leads to it. In order to ensure an effective and efficient process, key features of best practice in participation should be carefully observed; this would also combat disillusionment of citizens, decision-makers and practitioners. The overarching aim of this study is to determine what constitutes an effective public participation process relevant to the Newfoundland and Labrador, Canada context, and to discover whether the public participation process that led to the 2014-2024 Provincial Sustainable Forest Management Strategy (PSFMS) met best practices criteria. The research design uses an exploratory case study strategy to consider a specific participatory process in environmental decision-making in Newfoundland and Labrador. Data collection methods include formal semi-structured interviews and the review of secondary data sources. The results of this study will determine the validity of a specific public participation best practice framework. The findings will be useful for informing citizen participation processes in general and will deduce best practices in public participation in environmental management in the province. The study is, therefore, meaningful for guiding future policies and practices in the management of forest resources in the province of Newfoundland and Labrador, and will help in filling a noticeable gap in research compiling best practices for environmentally related public participation processes.

Keywords: best practices, environmental decision-making, forest management, public participation

Procedia PDF Downloads 318
18514 Creative Peace Diplomacy Model by the Perspective of Dialogue Management for International Relations

Authors: Bilgehan Gültekin, Tuba Gültekin

Abstract:

Peace diplomacy is the most important international tool to keep peace all over the world. The study titled “peace diplomacy for international relations” is consist of three part. In the first part, peace diplomacy is going to be introduced as a tool of peace communication and peace management. And, in this part, peace communication will be explained by international communication perspective. In the second part of the study,public relations events and communication campaigns will be developed originally for peace diplomacy. In this part, it is aimed original public communication dialogue management tools for peace diplomacy. the aim of the final part of the study, is to produce original public communication model for international relations. The model includes peace modules, peace management projects, original dialogue procedures and protocols, dialogue education, dialogue management strategies, peace actors, communication models, peace team management and public diplomacy steps. The creative part of the study aims to develop a model used for international relations for all countries. Creative Peace Diplomacy Model will be developed in the case of Turkey-Turkey-France and Turkey-Greece relations. So, communication and public relations events and campaigns are going to be developed as original for only this study.

Keywords: peace diplomacy, public communication model, dialogue management, international relations

Procedia PDF Downloads 541
18513 An Integrated Approach for Risk Management of Transportation of HAZMAT: Use of Quality Function Deployment and Risk Assessment

Authors: Guldana Zhigerbayeva, Ming Yang

Abstract:

Transportation of hazardous materials (HAZMAT) is inevitable in the process industries. The statistics show a significant number of accidents has occurred during the transportation of HAZMAT. This makes risk management of HAZMAT transportation an important topic. The tree-based methods including fault-trees, event-trees and cause-consequence analysis, and Bayesian network, have been applied to risk management of HAZMAT transportation. However, there is limited work on the development of a systematic approach. The existing approaches fail to build up the linkages between the regulatory requirements and the safety measures development. The analysis of historical data from the past accidents’ report databases would limit our focus on the specific incidents and their specific causes. Thus, we may overlook some essential elements in risk management, including regulatory compliance, field expert opinions, and suggestions. A systematic approach is needed to translate the regulatory requirements of HAZMAT transportation into specified safety measures (both technical and administrative) to support the risk management process. This study aims to first adapt the House of Quality (HoQ) to House of Safety (HoS) and proposes a new approach- Safety Function Deployment (SFD). The results of SFD will be used in a multi-criteria decision-support system to develop find an optimal route for HazMats transportation. The proposed approach will be demonstrated through a hypothetical transportation case in Kazakhstan.

Keywords: hazardous materials, risk assessment, risk management, quality function deployment

Procedia PDF Downloads 140
18512 Productivity of Construction Companies Using the Management of Threats and Opportunities ‎in Construction Projects of Iran

Authors: Nima Amani, Ali Salehi Dastjerdi, Fatemeh Ahmadi, Ardalan Sabamehr

Abstract:

The cost overrun of the construction projects has always been one of the main problems of the construction companies caused by the risky nature of the construction projects. Therefore, today, the application of risk management is inevitable. Although in theory, the issue of risk management is divided into the opportunities and threats management, in practice, most of the projects have been focused on the threats management. However, considering the opportunities management and applying the opportunities-response strategies can lead to the improved profitability of the construction projects of the companies. In this paper, a new technique is developed to identify the opportunities in the construction projects using an improved protocol and propose the appropriate opportunities-response strategies to the construction companies to provide them with higher profitability. To evaluate the effectiveness of the protocol for selecting the most appropriate strategies in ‎response to the opportunities and threats, two projects from a construction company in Iran were ‎studied. Both projects selected were in mid-range in terms of size and similar in terms of time, ‎run time and costs. Finally, the output indicates that using the proposed opportunities-response strategies show that the company's profitability in the future can be increased approximately for similar projects.

Keywords: opportunities management, risk-response strategy, opportunity-response strategy, productivity, risk management

Procedia PDF Downloads 227
18511 Risks in the Islamic Banking Model and Methods Adopted to Manage Them

Authors: K. P. Fasalu Rahman

Abstract:

The financial services industry of Islam include large number of institutions, such as investment banks and commercial banks, investment companies and mutual insurance companies. All types of these financial institutions should have to deal with many issues and risks in their field of work. Islamic banks should expect to face two types of risks: risks that are similar to those faced by conventional financial intermediaries and risks that are unique to the Islamic Banks due to their compliance with the Shariah. The use of financial services and products that comply with the Shariah principles cause special issues for supervision and risk management. Risks are uncertain future events that could influence the achievement of the bank’s objectives, including strategic, operational, financial and compliance objectives. In Islamic banks, effective risk management deserves special attention. As an operational problem, risk management is the classification and identification of methods, processes, and risks in banks to supervise, monitor and measure them. In comparison to conventional banks, Islamic banks face big difficulties in identifying and managing risks due to bigger complexities emerging from the profit loss sharing (PLS) concept and nature of particular risks of Islamic financing. As the developing of managing risks tool becomes very essential, especially in Islamic banking as most of the products are depending on PLS principle, identifying and measuring each type of risk is highly important and critical in any Islamic finance based systems. This paper highlights the special and general risks surrounding Islamic banking. And it investigates in detail the need for risk management in Islamic banks. In addition to analyzing the effectiveness of risk management strategies adopted by Islamic financial institutions at present, this research is also suggesting strategies for improving risk management process of Islamic banks in future.

Keywords: Islamic banking, management, risk, risk management

Procedia PDF Downloads 138
18510 Flood Planning Based on Risk Optimization: A Case Study in Phan-Calo River Basin in Vinh Phuc Province, Vietnam

Authors: Nguyen Quang Kim, Nguyen Thu Hien, Nguyen Thien Dung

Abstract:

Flood disasters are increasing worldwide in both frequency and magnitude. Every year in Vietnam, flood causes great damage to people, property, and environmental degradation. The flood risk management policy in Vietnam is currently updated. The planning of flood mitigation strategies is reviewed to make a decision how to reach sustainable flood risk reduction. This paper discusses the basic approach where the measures of flood protection are chosen based on minimizing the present value of expected monetary expenses, total residual risk and costs of flood control measures. This approach will be proposed and demonstrated in a case study for flood risk management in Vinh Phuc province of Vietnam. Research also proposed the framework to find a solution of optimal protection level and optimal measures of the flood. It provides an explicit economic basis for flood risk management plans and interactive effects of options for flood damage reduction. The results of the case study are demonstrated and discussed which would provide the processing of actions helped decision makers to choose flood risk reduction investment options.

Keywords: drainage plan, flood planning, flood risk, residual risk, risk optimization

Procedia PDF Downloads 241
18509 Internal Audit Innovation Affects to the Firm Performance Effectiveness

Authors: Prateep Wajeetongratana

Abstract:

The objective of this research is to examine the effects of internal audit innovation on firm performance effectiveness influences of financial report reliability, organizational process improvement, and risk management effectiveness. This paper drew upon the survey data collected from 400 employees survey conducted at Nonthaburi province, Thailand. The statistics utilized in this paper included percentage, mean, standard deviation, and regression analysis. The findings revealed that the majority of samples were between 31-40 years old, married, held an undergraduate degree, and had an average income between 10,000-15,000 baht. And also the results show that auditing integration has only influence on financial report reliability. Moreover, corporate risk evaluation has effect on firm performance by risk management effectiveness and control self-assessment has effect influence on firm performance by organizational process improvement and risk management effectiveness as well.

Keywords: corporate risk evaluation, firm performance effectiveness, internal audit innovation, marketing management

Procedia PDF Downloads 377
18508 Gender Perception on Food Waste within the Household and Community: Case Study in Bandung City, Indonesia

Authors: Gumilar Hadiningrat, Stewart Barr, Jo Little

Abstract:

In Indonesia, the majority of those who manage food waste are women. It is Indonesian culture that women act as household managers. Therefore, women as household managers hold an important role in reducing food waste within households. Meanwhile, in the community, women’s organisations are some of the most active organisations dealing with food waste. Food waste has an increasing profile and is the subject of much global attention and have economic, social and environmental impacts. Reducing food waste will improve future food availability in the context of global population growth and increasing resource scarcity. The aim of this research is to investigate women’s experience and understanding of dealing with food waste in the household and in the community. The research will use an inductive approach using in-depth qualitative methods. In terms of data collection, two methods will be used - questionnaire and interviews. All in all, it could be claimed that women, both within the household and the community in Indonesia, hold an important role in dealing with food waste.

Keywords: community waste management, food waste, gender, household waste, waste management

Procedia PDF Downloads 234
18507 Influence of Non-Carcinogenic Risk on Public Health

Authors: Gulmira Umarova

Abstract:

The data on the assessment of the influence of environmental risk to the health of the population of Uralsk in the West region of Kazakhstan were presented. Calculation of non-carcinogenic risks was performed for such air pollutants as sulfur dioxide, nitrogen oxides, hydrogen sulfide, carbon monoxide. Here with the critical organs and systems, which are affected by the above-mentioned substances were taken into account. As well as indicators of primary and general morbidity by classes of diseases among the population were considered. The quantitative risk of the influence of substances on organs and systems is established by results of the calculation.

Keywords: environment, health, morbidity, non-carcinogenic risk

Procedia PDF Downloads 119
18506 Identify the Risks Factors and Problems of Waste Management in Developing Countries as Hurdles

Authors: Zubair Ahmad

Abstract:

The aim of this study is to analyze the risks factors and issues with waste management in developing nations as barriers. Depending on their content and categorization, wastes are managed differently. Waste management strategies differ for liquid, solid, and organic wastes. The final stage of trash disposal entails procedures like burning, interment, recycling, and treatment. Due to the rising creation of solid waste, the growing urban population has a magnified impact on the environment and public health. All regions, but especially informal urban neighborhoods, tribal villages, and official rural settlements have a protracted backlog in waste services. Another significant impediment seen in the developing world is a lack of education and awareness of effective waste-management practices. Unauthorized dumpsites pose a serious risk to the environment since they could contain dangerous elements like radioactive, infectious, and toxic waste. Wealthier individuals are more inclined to think that their actions will have an impact on environmental problems and to act to address them. Waste managers need to take action to make sure the public is given information that is consistent with what they currently know. The results of the data analysis conducted with the aid of the various methodologies discussed in the preceding chapter are presented in this chapter by the researcher. Descriptive analysis has been used in research to determine whether or not there are relationships between variables and to determine the importance of the variables. According to a survey, there are no efforts being made to lessen the odor that garbage dump sites emit (in terms of treating or recycling the material placed at dumpsite) This might be the case since respondents only commented on the waste management conditions in their immediate surroundings and may not have fully understood the steps taken to resolve this issue.

Keywords: risk factor of waste material, lack of awareness, developing countries struggles, waste management

Procedia PDF Downloads 70
18505 Anemia and Nutritional Status as Dominant Factor of the Event Low Birth Weight in Indonesia: A Systematic Review

Authors: Lisnawati Hutagalung

Abstract:

Background: Low birth weight (LBW) is one cause of newborn death. Babies with low birth weight tend to have slower cognitive development, growth retardation, more at risk of infectious disease event at risk of death. Objective: Identifying risk factors and dominant factors that influence the incidence of LBW in Indonesia. Method: This research used some database of public health such as Google Scholar, UGM journals, UI journals and UNAND journals in 2012-2015. Data were filtered using keywords ‘Risk Factors’ AND ‘Cause LBW’ with amounts 2757 study. The filtrate obtained 5 public health research that meets the criteria. Results: Risk factors associated with LBW, among other environment factors (exposure to cigarette smoke and residence), social demographics (age and socio-economic) and maternal factors (anemia, placental abnormal, nutritional status of mothers, examinations antenatal, preeclampsia, parity, and complications in pregnancy). Anemia and nutritional status become the dominant factor affecting LBW. Conclusions: The risk factors that affect LBW, most commonly found in the maternal factors. The dominant factors are a big effect on LBW is anemia and nutritional status of the mother during pregnancy.

Keywords: low birth weight, anemia, nutritional status, the dominant factor

Procedia PDF Downloads 364
18504 Simulated Translator-Client Relations in Translator Training: Translator Behavior around Risk Management

Authors: Maggie Hui

Abstract:

Risk management is not a new concept; however, it is an uncharted area as applied to the translation process and translator training. Risk managers are responsible for managing risk, i.e. adopting strategies with the intention to minimize loss and maximize gains in spite of uncertainty. Which risk strategy to use often depends on the frequency of an event (i.e. probability) and the severity of its outcomes (i.e. impact). This is basically the way translation/localization project managers handle risk management. Although risk management could involve both positive and negative impacts, impact seems to be always negative in professional translators’ management models, e.g. how many days of project time are lost or how many clients are lost. However, for analysis of translation performance, the impact should be possibly positive (e.g. increased readability of the translation) or negative (e.g. loss of source-text information). In other words, the straight business model of risk management is not directly applicable to the study of risk management in the rendition process. This research aims to explore trainee translators’ risk managing while translating in a simulated setting that involves translator-client relations. A two-cycle experiment involving two roles, the translator and the simulated client, was carried out with a class of translation students to test the effects of the main variable of peer-group interaction. The researcher made use of a user-friendly screen-voice recording freeware to record subjects’ screen activities, including every word the translator typed and every change they made to the rendition, the websites they browsed and the reference tools they used, in addition to the verbalization of their thoughts throughout the process. The research observes the translation procedures subjects considered and finally adopted, and looks into the justifications for their procedures, in order to interpret their risk management. The qualitative and quantitative results of this study have some implications for translator training: (a) the experience of being a client seems to reinforce the translator’s risk aversion; (b) there is a wide gap between the translator’s internal risk management and their external presentation of risk; and (c) the use of role-playing simulation can empower students’ learning by enhancing their attitudinal or psycho-physiological competence, interpersonal competence and strategic competence.

Keywords: risk management, role-playing simulation, translation pedagogy, translator-client relations

Procedia PDF Downloads 258
18503 Framework for Assessment of Non-financial Concentration Risk

Authors: Anchal Gupta

Abstract:

Amid the escalating digitalization and deployment of cross-border technological solutions, a significant portion of the industry and regulatory bodies have begun to pose queries concerning the formulation, computation, and contemplation of concentration risk. In the financial sector, well-established parameters exist for gauging the concentration of a portfolio and similar elements. However, a unified framework appears to be absent, which could guide industry and regulators pertaining to non-financial concentration risk. This paper introduces a framework, constructed on the foundation of multiple regulations where regulators are advocating for licensed corporations to evaluate their concentration risk. The lacuna lies in the fact that, while regulators delineate what constitutes concentration risk, unlike other domains, no guidelines are provided that could assist firms. This frequently results in ambiguity and individual corporate interpretation, which, from a risk management standpoint, is less than ideal.

Keywords: concentration risk, non-financial risk, government regulation, financial regulation, non-market risk, MAS, DORA, EDSP, SFC

Procedia PDF Downloads 39