Search results for: risk maps
6393 Atmospheric Circulation Drivers Of Nationally-Aggregated Wind Energy Production Over Greece
Authors: Kostas Philippopoulos, Chris G. Tzanis, Despina Deligiorgi
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Climate change adaptation requires the exploitation of renewable energy sources such as wind. However, climate variability can affect the regional wind energy potential and consequently the available wind power production. The goal of the research project is to examine the impact of atmospheric circulation on wind energy production over Greece. In the context of synoptic climatology, the proposed novel methodology employs Self-Organizing Maps for grouping and classifying the atmospheric circulation and nationally-aggregated capacity factor time series for a 30-year period. The results indicate the critical effect of atmospheric circulation on the national aggregated wind energy production values and therefore address the issue of optimum distribution of wind farms for a specific region.Keywords: wind energy, atmospheric circulation, capacity factor, self-organizing maps
Procedia PDF Downloads 1536392 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
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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 2276391 Artificial Neural Network Approach for GIS-Based Soil Macro-Nutrients Mapping
Authors: Shahrzad Zolfagharnassab, Abdul Rashid Mohamed Shariff, Siti Khairunniza Bejo
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Conventional methods for nutrient soil mapping are based on laboratory tests of samples that are obtained from surveys. The time and cost involved in gathering and analyzing soil samples are the reasons that researchers use Predictive Soil Mapping (PSM). PSM can be defined as the development of a numerical or statistical model of the relationship among environmental variables and soil properties, which is then applied to a geographic database to create a predictive map. Kriging is a group of geostatistical techniques to spatially interpolate point values at an unobserved location from observations of values at nearby locations. The main problem with using kriging as an interpolator is that it is excessively data-dependent and requires a large number of closely spaced data points. Hence, there is a need to minimize the number of data points without sacrificing the accuracy of the results. In this paper, an Artificial Neural Networks (ANN) scheme was used to predict macronutrient values at un-sampled points. ANN has become a popular tool for prediction as it eliminates certain difficulties in soil property prediction, such as non-linear relationships and non-normality. Back-propagation multilayer feed-forward network structures were used to predict nitrogen, phosphorous and potassium values in the soil of the study area. A limited number of samples were used in the training, validation and testing phases of ANN (pattern reconstruction structures) to classify soil properties and the trained network was used for prediction. The soil analysis results of samples collected from the soil survey of block C of Sawah Sempadan, Tanjung Karang rice irrigation project at Selangor of Malaysia were used. Soil maps were produced by the Kriging method using 236 samples (or values) that were a combination of actual values (obtained from real samples) and virtual values (neural network predicted values). For each macronutrient element, three types of maps were generated with 118 actual and 118 virtual values, 59 actual and 177 virtual values, and 30 actual and 206 virtual values, respectively. To evaluate the performance of the proposed method, for each macronutrient element, a base map using 236 actual samples and test maps using 118, 59 and 30 actual samples respectively produced by the Kriging method. A set of parameters was defined to measure the similarity of the maps that were generated with the proposed method, termed the sample reduction method. The results show that the maps that were generated through the sample reduction method were more accurate than the corresponding base maps produced through a smaller number of real samples. For example, nitrogen maps that were produced from 118, 59 and 30 real samples have 78%, 62%, 41% similarity, respectively with the base map (236 samples) and the sample reduction method increased similarity to 87%, 77%, 71%, respectively. Hence, this method can reduce the number of real samples and substitute ANN predictive samples to achieve the specified level of accuracy.Keywords: artificial neural network, kriging, macro nutrient, pattern recognition, precision farming, soil mapping
Procedia PDF Downloads 656390 Climate Related Financial Risk on Automobile Industry and the Impact to the Financial Institutions
Authors: Mahalakshmi Vivekanandan S.
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As per the recent changes happening in the global policies, climate-related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate-related changes can often happen and lead to risk and a lot of uncertainty, but needs to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed so that the financial institutions can plan to mitigate it. Climate-related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and other risk types. And the models required to compute this has to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out the suggestion that the climate-related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, the author presents a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios and how the different transition risks affect the risk associated with the different parties. This research paper delves into the topic of the increase in the concentration of greenhouse gases that in turn cause global warming. It then considers the various scenarios of having the different risk drivers impacting the Credit and market risk of an institution by understanding the transmission channels and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: the automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II Capital calculations and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.Keywords: capital calculation, climate risk, credit risk, pillar ii risk, scenario modeling
Procedia PDF Downloads 1326389 Proposal of a Model Supporting Decision-Making Based on Multi-Objective Optimization Analysis on Information Security Risk Treatment
Authors: Ritsuko Kawasaki (Aiba), Takeshi Hiromatsu
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Management is required to understand all information security risks within an organization, and to make decisions on which information security risks should be treated in what level by allocating how much amount of cost. However, such decision-making is not usually easy, because various measures for risk treatment must be selected with the suitable application levels. In addition, some measures may have objectives conflicting with each other. It also makes the selection difficult. Moreover, risks generally have trends and it also should be considered in risk treatment. Therefore, this paper provides the extension of the model proposed in the previous study. The original model supports the selection of measures by applying a combination of weighted average method and goal programming method for multi-objective analysis to find an optimal solution. The extended model includes the notion of weights to the risks, and the larger weight means the priority of the risk.Keywords: information security risk treatment, selection of risk measures, risk acceptance, multi-objective optimization
Procedia PDF Downloads 4566388 A New Criterion Using Pose and Shape of Objects for Collision Risk Estimation
Authors: DoHyeung Kim, DaeHee Seo, ByungDoo Kim, ByungGil Lee
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As many recent researches being implemented in aviation and maritime aspects, strong doubts have been raised concerning the reliability of the estimation of collision risk. It is shown that using position and velocity of objects can lead to imprecise results. In this paper, therefore, a new approach to the estimation of collision risks using pose and shape of objects is proposed. Simulation results are presented validating the accuracy of the new criterion to adapt to collision risk algorithm based on fuzzy logic.Keywords: collision risk, pose, shape, fuzzy logic
Procedia PDF Downloads 5216387 Bereavement Risk Assessment of Family Caregivers of Patients with Cancer: Relationship between Bereavement Risk and Post-Loss Psychological Distress
Authors: Tomohiro Uchida, Noriaki Satake, Toshimichi Nakaho, Akira Inoue, Hidemitsu Saito
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In this study, we assessed the bereavement risk of family caregivers of patients with cancer. In the palliative care unit of Tohoku University Hospital, we conducted a family psychoeducation session to support the family caregivers of patients with cancer. A total of 50 participants (8 males and 42 females; mean age = 62.98 years, SD = 11.10) were assessed after the session for bereavement risk using the Japanese version of the Bereavement Risk Assessment Tool (BRAT-J). According to the BRAT-J scores, eight participants were considered to be having no known risk (Level 1), seventeen had minimal risk (Level 2), twenty had a low risk (Level 3), four had a moderate risk (Level 4), and one had a high risk (Level 5). Of these participants, seven participants had completed the follow-up postal survey that assessed their psychological distress (the Kessler Psychological Distress Scale: K6) to compare the bereavement risk. According to the K6 scores, three-fourth of the individuals, who were considered to be at Level 3 on the BRAT-J, scored higher than the cutoff point (>10) for the detection of depressive disorder. On the other hand, one-third of the individuals, who were considered to be at Level 2 on the BRAT-J, scored higher than the cutoff point. Therefore, it appears that the BRAT-J can predict the likelihood of difficulties or complications in bereaved family caregivers. This research was approved by the Ethics Committee of Tohoku University Graduate School of Medicine and Tohoku University Hospital.Keywords: palliative care, family caregivers, bereavement risk, BRAT, post-loss psychological distress
Procedia PDF Downloads 4486386 Measures for Earthquake Risk Reduction in Algeria
Authors: Farah Lazzali, Yamina Ait Meziane
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Recent earthquakes in Algeria have demonstrated the need for seismic risk reduction. In fact, the latest major earthquake that affected the Algiers-Boumerdes region in 2003 caused excessive levels of loss of life and property. Economic, social and environmental damage were also experienced. During the three days following the event, a relatively weak coordination of public authority was noted. Many localities did not receive any relief due to lack of information from concerned authorities and delay in connecting damaged roads. Following this event, Algerian government and civil society has recognized the urgent need for an appropriate and immediate seismic risk mitigation strategy. This paper describes procedures for emergency response following past earthquakes in Algeria and provides a brief review of risk mitigation activities since 1980. The paper also aims to provide measures to reduce earthquake risk through general strategy and practical implementation of the mitigation actions.Keywords: earthquake, hazard, prevention, strategy, risk reduction
Procedia PDF Downloads 5246385 Monitoring Systemic Risk in the Hedge Fund Sector
Authors: Frank Hespeler, Giuseppe Loiacono
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We propose measures for systemic risk generated through intra-sectorial interdependencies in the hedge fund sector. These measures are based on variations in the average cross-effects of funds showing significant interdependency between their individual returns and the moments of the sector’s return distribution. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and are consistent with intuitive interpretation of the results.Keywords: hedge funds, systemic risk, vector autoregressive model, risk monitoring
Procedia PDF Downloads 3176384 Integrated Risk Management as a Framework for Organisational Success
Authors: Olakunle Felix Adekunle
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Risk management is recognised as an essential tool to tackle the inevitable uncertainty associated with business and projects at all levels. But it frequently fails to meet expectations, with projects continuing to run late, over budget or under performing, and business is not gaining the expected benefits. The evident disconnect which often occurs between strategic vision and tactical project delivery typically arises from poorly defined project objectives and inadequate attention to the proactive management of risks that could affect those objectives. One of the main failings in the traditional approach to risk management arises from a narrow focus on the downside, restricted to the technical or operational field, addressing tactical threats to processes, performance or people. This shortcoming can be overcome by widening the scope of risk management to encompass both strategic risks and upside opportunities, creating an integrated approach which can bridge the gap between strategy and tactics. Integrated risk management addresses risk across a variety of levels in the organisation, including strategy and tactics, and covering both opportunity and threat. Effective implementation of integrated risk management can produce a number of benefits to the organisation which are not available from the typical limited-scope risk process. This paper explores how to expand risk management to deliver strategic advantage while retaining its use as a tactical tool.Keywords: risk management, success, organization, strategy, project, tactis, vision
Procedia PDF Downloads 3876383 Research on Urban Thermal Environment Climate Map Based on GIS: Taking Shapingba District, Chongqing as an Example
Authors: Zhao Haoyue
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Due to the combined effects of climate change, urban expansion, and population growth, various environmental issues, such as urban heat islands and pollution, arise. Therefore, reliable information on urban environmental climate is needed to address and mitigate the negative effects. The emergence of urban climate maps provides a practical basis for urban climate regulation and improvement. This article takes Shapingba District, Chongqing City, as an example to study the construction method of urban thermal environment climate maps based on GIS spatial analysis technology. The thermal load, ventilation potential analysis map, and thermal environment comprehensive analysis map were obtained. Based on the classification criteria obtained from the climate map, corresponding protection and planning mitigation measures have been proposed.Keywords: urban climate, GIS, heat island analysis, urban thermal environment
Procedia PDF Downloads 1026382 A Risk Pathway of Distal and Proximal Factors for Self-Injury among Adolescents
Authors: Sarit Gideoni Cohen
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The aim of the study was to examine possible risk pathway which initiated by the distal risk factors of insecure attachment to the mother, the father and peers and then developed by means of proximal risk factors: stressful life events and emotional distress. 275 participants (aged 13-26) from high-schools, youth groups and university were requited. Twenty-two percent participants reported at least one episode of self-injury. The relationship between paternal and peer attachment were partly mediated by stressful life events and depressive symptoms. Paternal and peer attachment influences during adolescence as contributing to risk pathway for self-injury were acknowledged.Keywords: self-injury, attachment, depression, stressful life-events, adolescence
Procedia PDF Downloads 2246381 Fuzzy Expert Approach for Risk Mitigation on Functional Urban Areas Affected by Anthropogenic Ground Movements
Authors: Agnieszka A. Malinowska, R. Hejmanowski
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A number of European cities are strongly affected by ground movements caused by anthropogenic activities or post-anthropogenic metamorphosis. Those are mainly water pumping, current mining operation, the collapse of post-mining underground voids or mining-induced earthquakes. These activities lead to large and small-scale ground displacements and a ground ruptures. The ground movements occurring in urban areas could considerably affect stability and safety of structures and infrastructures. The complexity of the ground deformation phenomenon in relation to the structures and infrastructures vulnerability leads to considerable constraints in assessing the threat of those objects. However, the increase of access to the free software and satellite data could pave the way for developing new methods and strategies for environmental risk mitigation and management. Open source geographical information systems (OS GIS), may support data integration, management, and risk analysis. Lately, developed methods based on fuzzy logic and experts methods for buildings and infrastructure damage risk assessment could be integrated into OS GIS. Those methods were verified base on back analysis proving their accuracy. Moreover, those methods could be supported by ground displacement observation. Based on freely available data from European Space Agency and free software, ground deformation could be estimated. The main innovation presented in the paper is the application of open source software (OS GIS) for integration developed models and assessment of the threat of urban areas. Those approaches will be reinforced by analysis of ground movement based on free satellite data. Those data would support the verification of ground movement prediction models. Moreover, satellite data will enable our mapping of ground deformation in urbanized areas. Developed models and methods have been implemented in one of the urban areas hazarded by underground mining activity. Vulnerability maps supported by satellite ground movement observation would mitigate the hazards of land displacements in urban areas close to mines.Keywords: fuzzy logic, open source geographic information science (OS GIS), risk assessment on urbanized areas, satellite interferometry (InSAR)
Procedia PDF Downloads 1566380 The Impact of Corporate Governance on Risk Taking in European Insurance Industry
Authors: Francesco Venuti, Simona Alfiero
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The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.Keywords: agency theory, corporate governance, insurance companies, risk taking
Procedia PDF Downloads 4206379 Development of Risk Management System for Urban Railroad Underground Structures and Surrounding Ground
Authors: Y. K. Park, B. K. Kim, J. W. Lee, S. J. Lee
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To assess the risk of the underground structures and surrounding ground, we collect basic data by the engineering method of measurement, exploration and surveys and, derive the risk through proper analysis and each assessment for urban railroad underground structures and surrounding ground including station inflow. Basic data are obtained by the fiber-optic sensors, MEMS sensors, water quantity/quality sensors, tunnel scanner, ground penetrating radar, light weight deflectometer, and are evaluated if they are more than the proper value or not. Based on these data, we analyze the risk level of urban railroad underground structures and surrounding ground. And we develop the risk management system to manage efficiently these data and to support a convenient interface environment at input/output of data.Keywords: urban railroad, underground structures, ground subsidence, station inflow, risk
Procedia PDF Downloads 3296378 Clustering for Detection of the Population at Risk of Anticholinergic Medication
Authors: A. Shirazibeheshti, T. Radwan, A. Ettefaghian, G. Wilson, C. Luca, Farbod Khanizadeh
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Anticholinergic medication has been associated with events such as falls, delirium, and cognitive impairment in older patients. To further assess this, anticholinergic burden scores have been developed to quantify risk. A risk model based on clustering was deployed in a healthcare management system to cluster patients into multiple risk groups according to anticholinergic burden scores of multiple medicines prescribed to patients to facilitate clinical decision-making. To do so, anticholinergic burden scores of drugs were extracted from the literature, which categorizes the risk on a scale of 1 to 3. Given the patients’ prescription data on the healthcare database, a weighted anticholinergic risk score was derived per patient based on the prescription of multiple anticholinergic drugs. This study was conducted on over 300,000 records of patients currently registered with a major regional UK-based healthcare provider. The weighted risk scores were used as inputs to an unsupervised learning algorithm (mean-shift clustering) that groups patients into clusters that represent different levels of anticholinergic risk. To further evaluate the performance of the model, any association between the average risk score within each group and other factors such as socioeconomic status (i.e., Index of Multiple Deprivation) and an index of health and disability were investigated. The clustering identifies a group of 15 patients at the highest risk from multiple anticholinergic medication. Our findings also show that this group of patients is located within more deprived areas of London compared to the population of other risk groups. Furthermore, the prescription of anticholinergic medicines is more skewed to female than male patients, indicating that females are more at risk from this kind of multiple medications. The risk may be monitored and controlled in well artificial intelligence-equipped healthcare management systems.Keywords: anticholinergic medicines, clustering, deprivation, socioeconomic status
Procedia PDF Downloads 2016377 Proposal of a Model Supporting Decision-Making on Information Security Risk Treatment
Authors: Ritsuko Kawasaki, Takeshi Hiromatsu
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Management is required to understand all information security risks within an organization, and to make decisions on which information security risks should be treated in what level by allocating how much amount of cost. However, such decision-making is not usually easy, because various measures for risk treatment must be selected with the suitable application levels. In addition, some measures may have objectives conflicting with each other. It also makes the selection difficult. Therefore, this paper provides a model which supports the selection of measures by applying multi-objective analysis to find an optimal solution. Additionally, a list of measures is also provided to make the selection easier and more effective without any leakage of measures.Keywords: information security risk treatment, selection of risk measures, risk acceptance, multi-objective optimization
Procedia PDF Downloads 3706376 A Financial Analysis of the Current State of IKEA: A Case Study
Authors: Isabela Vieira, Leonor Carvalho Garcez, Adalmiro Pereira, Tânia Teixeira
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In the present work, we aim to analyse IKEA as a company, by focusing on its development, financial analysis and future benchmarks, as well as applying some of the knowledge learned in class, namely hedging and other financial risk mitigation solutions, to understand how IKEA navigates and protects itself from risk. The decision that led us to choose IKEA for our casework has to do with the long history of the company since the 1940s and its high internationalization in 63 different markets. The company also has clear financial reports which aided us in the making of the present essay and naturally, was a factor that contributed to our decision.Keywords: Ikea, financial risk, risk management, hedge
Procedia PDF Downloads 386375 Intellectual Property Risk Assessment in Planning Market Entry to China
Authors: Qing Cao
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Generally speaking, China has a relatively high level of intellectual property (IP) infringement. Risk assessment is indispensable in the strategic planning process. To complement the current literature in international business, the paper sheds the light on how to assess IP risk for foreign companies in planning market entry to China. Evaluating internal and external IP environment, proposed in the paper, consists of external analysis, internal analysis and further internal analysis. Through position the company’s IP environment, the risk assessment approach enables the foreign companies to either build the corresponding IP strategies or abort the entry plan beforehand to minimize the IP risks.Keywords: intellectual property, IP environment, risk assessment
Procedia PDF Downloads 5556374 Sex Education Training Program Effect on Junior Secondary School Students Knowledge and Practice of Sexual Risk Behavior
Authors: Diyaolu Babajide Olufemi, Oyerinde Oyewole Olusesan
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This study examined the effect of sex education training programs on the knowledge and practice of sexual risk behavior among secondary school adolescents in Ibadan North Local Government area of Oyo State. A total of 105 students were sampled from two schools in the Local Government area. Seventy students (70) constituted the experimental group while thirty-five (35) constituted the control group. Pretest-Posttest control group quasi-experimental design was adopted. A self-developed questionnaire was used to test participants’ knowledge and practice of sexual risk behavior before and after the training (α=.62, .82 and .74). Analysis indicated a significant effect of sex education training on participants’ knowledge and practice of sexual risk behavior, a significant gender difference in knowledge of sexual risk behavior but no significant age and gender difference in the practice of sexual risk behavior. It was thus concluded that sex education should be taught in schools and emphasized at homes with no age or gender restrictions.Keywords: early adolescent, health risk, sexual risk behavior, sex education
Procedia PDF Downloads 1356373 Environmental Governance and Opportunities for Disaster Risk Reduction in Nigeria
Authors: Willie Eselebor
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Environmental governance is not new, but may consist of a series of actions taken to establish sanity and ensure sustainable environment. While there is a growing accord linking disaster risk reduction with the management of environment and natural resources, little is known about failure to act which constitute vulnerability and how improved governance reduces risk globally. The paper reviews emerging trends in the field of application of governance tools and approaches for reducing disaster risk. The Hyogo Framework for Action (HFA) enjoin all stakeholders to stimulate the sustainable use and management of ecosystems, which promote the implementation of integrated environmental and natural resource planning that incorporate disaster risk reduction, including structural and non-structural measures, such as integrated management of fragile ecosystems. The methodology adopted is a case study of disaster-prone sites, prompting guided analysis on which hazards are traceable to environmental degradation, why a degraded environment reduces community resilience; how healthy ecosystems provide natural defense, and which opportunities exist to address gaps in reduction of disasters in Nigeria. The paper further analyses the interaction between disaster risk and environmental change. It is established that environmental governance remains a challenge; which implies that there is the need for a shift in traditional approaches to disaster risk management; exploring new initiatives and allowing environmental managers to be docketed as disaster risk managers in context, potentially opening up a window of dialogue on disaster risk management.Keywords: disaster, ecosystem, environment, risk
Procedia PDF Downloads 3416372 A Structural Equation Model of Risk Perception of Rockfall for Revisit Intention
Authors: Ya-Fen Lee, Yun-Yao Chi
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The study aims to explore the relationship between risk perceptions of rockfall and revisit intention using a Structural Equation Modelling (SEM) analysis. A total of 573 valid questionnaires are collected from travelers to Taroko National Park, Taiwan. The findings show the majority of travellers have the medium perception of rockfall risk, and are willing to revisit the Taroko National Park. The revisit intention to Taroko National Park is influenced by hazardous preferences, willingness-to-pay, obstruction and attraction. The risk perception has an indirect effect on revisit intention through influencing willingness-to-pay. The study results can be a reference for mitigation the rockfall disaster.Keywords: risk perception, rockfall, revisit intention, structural equation modelling
Procedia PDF Downloads 4236371 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 3026370 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 3376369 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 1626368 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 3686367 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 1526366 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 3426365 Coastal Resources Spatial Planning and Potential Oil Risk Analysis: Case Study of Misratah’s Coastal Resources, Libya
Authors: Abduladim Maitieg, Kevin Lynch, Mark Johnson
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The goal of the Libyan Environmental General Authority (EGA) and National Oil Corporation (Department of Health, Safety & Environment) during the last 5 years has been to adopt a common approach to coastal and marine spatial planning. Protection and planning of the coastal zone is a significant for Libya, due to the length of coast and, the high rate of oil export, and spills’ potential negative impacts on coastal and marine habitats. Coastal resource scenarios constitute an important tool for exploring the long-term and short-term consequences of oil spill impact and available response options that would provide an integrated perspective on mitigation. To investigate that, this paper reviews the Misratah coastal parameters to present the physical and human controls and attributes of coastal habitats as the first step in understanding how they may be damaged by an oil spill. This paper also investigates costal resources, providing a better understanding of the resources and factors that impact the integrity of the ecosystem. Therefore, the study described the potential spatial distribution of oil spill risk and the coastal resources value, and also created spatial maps of coastal resources and their vulnerability to oil spills along the coast. This study proposes an analysis of coastal resources condition at a local level in the Misratah region of the Mediterranean Sea, considering the implementation of coastal and marine spatial planning over time as an indication of the will to manage urban development. Oil spill contamination analysis and their impact on the coastal resources depend on (1) oil spill sequence, (2) oil spill location, (3) oil spill movement near the coastal area. The resulting maps show natural, socio-economic activity, environmental resources along of the coast, and oil spill location. Moreover, the study provides significant geodatabase information which is required for coastal sensitivity index mapping and coastal management studies. The outcome of study provides the information necessary to set an Environmental Sensitivity Index (ESI) for the Misratah shoreline, which can be used for management of coastal resources and setting boundaries for each coastal sensitivity sectors, as well as to help planners measure the impact of oil spills on coastal resources. Geographic Information System (GIS) tools were used in order to store and illustrate the spatial convergence of existing socio-economic activities such as fishing, tourism, and the salt industry, and ecosystem components such as sea turtle nesting area, Sabkha habitats, and migratory birds feeding sites. These geodatabases help planners investigate the vulnerability of coastal resources to an oil spill.Keywords: coastal and marine spatial planning advancement training, GIS mapping, human uses, ecosystem components, Misratah coast, Libyan, oil spill
Procedia PDF Downloads 3606364 Secured Embedding of Patient’s Confidential Data in Electrocardiogram Using Chaotic Maps
Authors: Butta Singh
Abstract:
This paper presents a chaotic map based approach for secured embedding of patient’s confidential data in electrocardiogram (ECG) signal. The chaotic map generates predefined locations through the use of selective control parameters. The sample value difference method effectually hides the confidential data in ECG sample pairs at these predefined locations. Evaluation of proposed method on all 48 records of MIT-BIH arrhythmia ECG database demonstrates that the embedding does not alter the diagnostic features of cover ECG. The secret data imperceptibility in stego-ECG is evident through various statistical and clinical performance measures. Statistical metrics comprise of Percentage Root Mean Square Difference (PRD) and Peak Signal to Noise Ratio (PSNR). Further, a comparative analysis between proposed method and existing approaches was also performed. The results clearly demonstrated the superiority of proposed method.Keywords: chaotic maps, ECG steganography, data embedding, electrocardiogram
Procedia PDF Downloads 185