Search results for: fire risk

Authors: Yousef Almutairi, Yajue Wu

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Various large-scale trends have characterized the current century thus far, including increasing shifts towards urbanization and greater movement. It is predicted that there will be 9.3 billion people on Earth in 2050 and that over two-thirds of this population will be city dwellers. Moreover, in larger cities worldwide, mass transportation systems, including underground systems, have grown to account for the majority of travel in those settings. Underground networks are vulnerable to fires, however, endangering travellers’ safety, with various examples of fire outbreaks in this setting. This study aims to increase knowledge of the impacts of extreme climatic conditions on fires, including the role of the high ambient temperatures experienced in Middle Eastern countries and specifically in Saudi Arabia. This is an element that is not always included when assessments of fire safety are made (considering visibility, temperatures, and flows of smoke). This paper focuses on a tunnel within Riyadh’s underground system as a case study and includes simulations based on computational fluid dynamics using ANSYS Fluent, which investigates the impact of various ventilation systems while identifying smoke density, speed, pressure and temperatures within this tunnel.

Keywords: fire, subway tunnel, CFD, mechanical ventilation, smoke, temperature, harsh weather

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Authors: Preeda Sansakorn, Min An

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In order to be capable of dealing with uncertainties, subjectivities, including vagueness arising in building construction projects, the application of fuzzy reasoning technique based on fuzzy set theory is proposed. This study contributes significantly to the development of a fuzzy reasoning safety risk assessment model for building construction projects that could be employed to assess the risk magnitude of each hazardous event identified during construction, and a third parameter of probability of consequence is incorporated in the model. By using the proposed safety risk analysis methodology, more reliable and less ambiguities, which provide the safety risk management project team for decision-making purposes.

Keywords: safety risk assessment, building construction safety, fuzzy reasoning, construction risk assessment model, building construction projects

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Authors: Mohammad Hadi Khorashadi Zadeh, Amin Karkon, Seyd Mohammad Reza Mashhoori

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The technology of computer audit played a major role in the progress and prospects of a proper application to improve the quality and efficiency of audit work. But due to the technical complexity and the specific risks of computer audit, it should be shown effective in audit and preventive action. Mainly through research in this paper, we propose the causes of audit risk in a computer environment and the risk of further proposals for measures to control, to some extent reduce the risk of computer audit and improve the audit quality.

Keywords: computer auditing, risk, measures to prevent, information management

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Authors: Sean Sloan

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Probability Risk Assessments (PRA) can be a difficult concept for students to grasp. So in searching for different ways to describe PRA to relate it to their lives; COVID-19 came up. The parallels are amazing. Soon students began analyzing acceptable risk with the virus. This helped them to quantify just how dangerous is dangerous. The original lesson was dismissed and for the remainder of the period, the probability of risk, and the lethality of risk became the topic. Spreading events such as a COVID carrier on an airline became analogous to single fault casualties such as a Tsunami. Odds of spreading became odds of backup-diesel-generator failure – like with Fukashima Daiichi. Fatalities of the disease became expected fatalities due to radiation spread. Quantification from this discussion took it from hyperbole and emotion into one where we could rationally base guidelines. It has been one of the most effective educational devices observed.

Keywords: COVID, education, probability, risk

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Authors: Abhijitsinh Gohil, Kaushal Wadhvaniya, Kuldipsinh Jadeja

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Road Safety is a multi-sectoral and multi-dimensional issue. An effective model can assess the risk associated with highway safety. A questionnaire survey is very essential to identify the events or activities which are causing unsafe condition for traffic on an urban highway. A questionnaire of standard questions including vehicular, human and infrastructure characteristics can be made. Responses from the age wise group of road users can be taken on field. Each question or an event holds a specific risk weightage, which contributes in creating an inappropriate and unsafe flow of traffic. The probability of occurrence of an event can be calculated from the data collected from the road users. Finally, the risk score can be calculated by considering the risk factor and the probability of occurrence of individual event and addition of all risk score for the individual event will give the total risk score of a particular road. Standards for risk score can be made and total risk score can be compared with the standards. Thus road can be categorized based on risk associated and traffic safety on it. With this model, one can assess the need for traffic safety improvement on a given road, and qualitative data can be analysed.

Keywords: probability of occurrence, questionnaire, risk factor, risk score

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Authors: Mohammad Hadi Khorashadi Zadeh, Amin Karkon, Seyd Mohammad Reza Mashhoori ‎

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the technology of Computer audit played a major role in the progress and ‎prospects of a proper application to improve the quality and efficiency of audit ‎work. But due to the technical complexity and the specific risks of computer ‎audit, it should be shown effective in audit and preventive action. Mainly through ‎research in this paper, we proposes the causes of audit risk in a computer ‎environment and the risk of further proposals for measures to control, to some ‎extent reduce the risk of computer audit and improve the audit quality.‎

Keywords: computer auditing, risk, measures to prevent, information technology

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Authors: Dipak Sonawane, Sudarshan Daga, Somesh Gupta

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Quantitative risk assessment (QRA) is a very precise and consistent approach to defining the likelihood, consequence and severity of a major incident/accident. A variety of hazardous cargoes in bulk, such as hydrocarbons and flammable/toxic chemicals, are handled at various ports. It is well known that most of the operations are hazardous, having the potential of damaging property, causing injury/loss of life and, in some cases, the threat of environmental damage. In order to ensure adequate safety towards life, environment and property, the application of scientific methods such as QRA is inevitable. By means of these methods, comprehensive hazard identification, risk assessment and appropriate implementation of Risk Control measures can be carried out. In this paper, the authors, based on their extensive experience in Risk Analysis for ports and harbors, have exhibited how QRA can be used in practice to minimize and contain risk to tolerable levels. A specific case involving the operation for unloading of hydrocarbon at a port is presented. The exercise provides confidence that the method of QRA, as proposed by the authors, can be used appropriately for the identification of hazards and risk assessment of Ports and Terminals.

Keywords: quantitative risk assessment, hazard assessment, consequence analysis, individual risk, societal risk

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Authors: Syed Sameer Aga, Saniya Nissar

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The Xeroderma pigmentosum group D gene (XPD) plays a key role in nucleotide excision repair (NER) pathway of the damaged DNA. Genetic polymorphisms in the coding region of the XPD gene may alter DNA repair capacity of the protein and hence can modulate the risk of colorectal cancer (CRC) risk. The aim of the study was to determine the genetic association of XPD Lys751Gln polymorphism with the risk of colorectal cancer (CRC) development. 120 CRC patients and 160 normal controls were assessed for genotype frequencies of XPD Lys751Gln polymorphism using PCR-RFLP technique. We observed a significant association (p < 0.05) between the XPD Lys751Gln polymorphism and the risk of developing CRC (p < 0.05). Additionally, Gln/Gln genotype of the XPD gene doubled the risk for the development of CRC [p < 0.05; OR=2.25 95% CI (1.07-4.7)]. Our results suggest that there is a significant association between the XPD Lys751Gln polymorphism and the risk of CRC.

Keywords: colorectal cancer, polymorphism, RFLP, DNA Repair, NER, XPD

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Authors: Esmat Momeni, Shabnam Basari, Mohammad Beheshtinia

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The purpose of this study is to provide a symbolic explanation of the four elements in Zoroastrianism and sustainable ecosystems with an ecological approach. The research method is fundamental and deductive content analysis. Data collection has been done through library and documentary methods and through reading books and related articles. The population and sample of the present study are Yazd city and Iran country after discovering symbolic concepts derived from the theoretical foundations of Zoroastrianism in four elements of water, air, soil, fire and conformity with Iranian architecture with the ecological approach in Yazd city, the sustainable ecosystem it is explained by the system of nature. The validity and reliability of the results are based on the trust and confidence of the research literature. Research findings show that Yazd was one of the bases of Zoroastrianism in Iran. Many believe that the first person to discuss the elements of nature and respect Zoroastrians is the Prophet of this religion. Keeping the environment clean and pure by paying attention to and respecting these four elements. The water element is a symbol of existence in Zoroastrianism, so the people of Yazd used the aqueduct and designed a pool in front of the building. The soil element is a symbol of the raw material of human creation in the Zoroastrian religion, the most readily available material in the desert areas of Yazd, used as bricks and adobes, creating one of the most magnificent roof coverings is the dome. The wind element represents the invisible force of the soul in Creation in Zoroastrianism, the most important application of wind in the windy, which is a highly efficient cooling system. The element of fire, which is always a symbol of purity in Zoroastrianism, is located in a special place in Yazd's Ataskadeh (altar/ temple), where the most important religious prayers are held in and against the fire. Consequently, indigenous knowledge and attention to indigenous architecture is a part of the national capital of each nation that encompasses their beliefs, values, methods, and knowledge. According to studies on the four elements of Zoroastrianism, the link between these four elements are that due to the hot and dry fire at the beginning, it is the fire that begins to follow the nature of the movement in the stillness of the earth, and arises from the heat of the fire and because of vigor and its decreases, cold (wind) emerges, and from cold, humidity and wetness. And by examining books and resources on Yazd's architectural design with an ecological approach to the values of the four elements Zoroastrianism has been inspired, it can be concluded that in order to have environmentally friendly architecture, it is essential to use sustainable architectural principles, to link religious and sacrament culture and ecology through architecture.

Keywords: ecology, architecture, quadruple elements of air, soil, water, fire, Zoroastrian religion, sustainable ecosystem, Iran, Yazd city

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Authors: Ali Abdullah Albezaghi

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This article aims to introduce a conceptual framework that can facilitate investigations concerning the role of risk management practices in the relationship between construction risks and the construction project's performance. This article is structured based on the extant literature; it reviews theoretical perspectives, highlights the gaps, and illustrates the significance of developing a framework of suggested relationships. Despite growing interest in the role of risks in construction project performance, previous studies have paid little attention to investigating the moderating role of risk management practices on the risk-performance link. This has left researchers and construction project managers with minimal information to explain the conditions under which risk management practices can reduce the impact of project-related risks and improve performance. In this context, this article suggests a viable research model with propositions that assess risk-performance relationships and discusses the potential moderating effects on the domain relationship. This paper adds to the risk management literature by focusing on risk variables that directly impact performance. Further, it also considers the moderating role of risk management practices in such relationships.

Keywords: risk management practices, external risks, internal risks, project risks, project performance

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Authors: Tejasvi Parupudi, Mochen Li, Lakshya Mittal, Ignacio G. Camarillo, Raji Sundararajan

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With breast cancer becoming a global pandemic, it is very important to assess a woman’s risk profile accurately in a timely manner. Providing an estimate of the risk of developing breast cancer to a woman gives her an opportunity to consider options to decrease this risk. Women at low risk may be suggested yearly screenings whereas women with a high risk of developing breast cancer would be candidates for aggressive surveillance. Fortunately, there is a set of risk factors that are used to predict the probability of a woman being diagnosed with breast cancer in the future. Studying risk factors and understanding how they correlate to cancer is important for early diagnosis, prevention and reducing mortality rates. The effect of crucial risk factors among black and white women was compared in this study. The various risk factors analyzed include breast density, age, cancer in a first-degree relative, menopausal status, body mass index (BMI) and prior breast cancer diagnosis, etc. Breast density, age at first full-term birth and BMI were utilized in this study as important risk factors for the comparison of incidence rates between women of black and white races in the USA. Understanding the differences could lead to the development of solutions to reduce disparity in mortality rates among black women by improving overall access to care.

Keywords: big data, breast cancer, risk factors, incidence rates, mortality, race

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Authors: M. A. Rahman, A. T. Ohta, H. V. Trinh, J. Hyvl

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Atmospheric pressure and oxygen (O2) concentration are critical life support parameters for human-occupied aerospace vehicles and habitats. Various medical conditions may require medical O2; for example, the American Medical Association has determined that commercial air travel exposes passengers to altitude-related hypoxia and gas expansion. It may cause some passengers to experience significant symptoms and medical complications during the flight, requiring supplemental medical-grade O2 to maintain adequate tissue oxygenation and prevent hypoxemic complications. Although supplemental medical grade O2 is a successful lifesaver for respiratory and cardiac failure, O2-enriched exhaled air can contain more than 95 % O2, increasing the likelihood of a fire. In an aerospace environment, a localized high concentration O2 bubble forms around a patient being treated for hypoxia, increasing the cabin O2 beyond the safe limit. To address this problem, this work describes a medical O2 delivery system that can reduce the O2 concentration from patient-exhaled O2-rich air to safe levels while maintaining the prescribed O2 administration to the patient. The O2 delivery system is designed to be a part of the medical O2 kit. The system uses cationic multimetallic cobalt complexes to reversibly, selectively, and stoichiometrically chemisorb O2 from the exhaled air. An air-release sub-system monitors the exhaled air, and as soon the O2 percentage falls below 21%, the air is released to the room air. The O2-enriched exhaled air is channeled through a layer of porous, thin-film heaters coated with the cobalt complex. The complex absorbs O2, and when saturated, the complex is heated to 100°C using the thin-film heater. Upon heating, the complex desorbs O2 and is once again ready to absorb or remove the excess O2 from exhaled air. The O2 absorption is a sub-second process, and desorption is a multi-second process. While heating at 0.685 °C/sec, the complex desorbs ~90% O2 in 110 sec. These fast reaction times mean that a simultaneous absorb/desorb process in the O2 delivery system will create a continuous absorption of O2. Moreover, the complex can concentrate O2 by a factor of 160 times that in air and desorb over 90% of the O2 at 100°C. Over 12 cycles of thermogravimetry measurement, less than 0.1% decrease in reversibility in O2 uptake was observed. The 1 kg complex can desorb over 20L of O2, so simultaneous O2 desorption by 0.5 kg of complex and absorption by 0.5 kg of complex can potentially continuously remove 9L/min O2 (~90% desorbed at 100°C) from exhaled air. The complex is synthesized and characterized for reversible O2 absorption and efficacy. The complex changes its color from dark brown to light gray after O2 desorption. In addition to thermogravimetric analysis, the O2 absorption/desorption cycle is characterized using optical imaging, showing stable color changes over ten cycles. The complex was also tested at room temperature in a low O2 environment in its O2 desorbed state, and observed to hold the deoxygenated state under these conditions. The results show the feasibility of using the complex for reversible O2 absorption in the proposed fire safe medical O2 delivery system.

Keywords: fire risk, medical oxygen, oxygen removal, reversible absorption

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Authors: D. Jagath Kumari, K. Srinivasa Rao

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Reinforced concrete column is an important structural element in a building. Concrete usually performs well in building fires. However, when it is subjected to prolonged fire exposure or unusually high temperatures, and then it will suffer significant distress. Because concrete pre-fire compressive strength generally exceeds design requirements, therefore an average strength reduction can be tolerated. However high temperature reduces the compressive strength of concrete so much that the concrete retains no useful structural strength. Therefore the residual strength and its performance of structure can be assed by NDT testing. In this paper, rebound hammer test and the ultrasonic pulse velocity (UPV) are used to evaluate the residual compressive strength and material integrity of post-fire-curing concrete subjected to elevated temperatures. Also considering the large availability of fly ash in most of the countries, an attempt was made to study the effect of high volume fly ash concrete exposed to elevated temperatures. 32 RC column specimens were made with a M20 grade concrete mix. Out of 32 column specimens 16 column specimens were made with OPC concrete and other 16 column specimens were made with HVFA concrete. All specimens having similar cross-section details. Columns were exposed to fire for temperatures from 100oC to 800o C with increments of 100o C for duration of 3 hours. Then the specimens allowed cooling to room temperature by two methods natural air cooling method and immediate water quenching method. All the specimens were tested identically, for the compressive strengths and material integrity by rebound hammer and ultrasonic pulse velocity meter respectively for study. These two tests were carried out on preheating and post heating of the column specimens. The percentage variation of compressive strengths of RCC columns with the increase in temperature has been studied and compared the results for both OPC and HVFA concretes. Physical observations of the heated columns were observed.

Keywords: HVFA concrete, NDT testing, residual strength

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Authors: Wencong Lu, Abdul Latif, Raza Ullah, Subhan Ullah

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Agricultural production is subject to risk and the attitudes of producers toward risk, in turn, may be affected by certain socioeconomic characteristics of producers. Although, it is important to assess the risk attitude of farmers and their perception towards different calamitous risk sources for better understanding of their risk management adoption decisions, to the best of our knowledge no studies have been carried out to analyze the risk attitude and risk perceptions in the context of tobacco production in Pakistan. Therefore the study in hand is conducted with an attempt to overcome the gap in existing literature by analyzing different catastrophic risk sources faced by tobacco growers, their attitude towards risk and the effect of socioeconomic and demographic characteristics, farmers’ participation in contract farming and off-farm diversification on their risk attitude and risk perception. Around 78% of Pakistan’s entire tobacco crop and nearly all of the country’s Flue-Cured Virginia (FCV) tobacco is produced in Khyber Pakhtunkhwa (KPK) province alone. The yield/hectare of tobacco produced in KPK province is 14% higher than the global average and 22 % higher than national average. Khyber Pakhtunkhwa province was selected as main study area as nearly all of the country’s Flue-Cured Virginia (FCV) tobacco is produced in Khyber Pakhtunkhwa (KPK) province alone. Six districts were purposely selected based on their contribution in overall production for the last five years which accounts for more than 94.84% of the tobacco production in KPK province. Specific objectives taken into considerations for this study are the risk attitude of the farmers for growing FCV tobacco crop, farmers’ risk perception for different risk sources related to tobacco production (as far as the incidence and severity of each risk source is concerned) and the effect of socioeconomic characteristics, contract farming participation and off-farm diversification (income) on the risk attitude and risk perception of FCV tobacco growers.

Keywords: risk attitude, risk perception, contract farming, off-farm diversification, probit model

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Authors: Thitaporn Thoopputra, Tipaporn Pongmesa, Shuchuen Li

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Aims: To evaluate the application of non-invasive diabetes risk assessment tool in community pharmacy setting. Methods: Thai diabetes risk score was applied to assess individuals at risk of developing type 2 diabetes. Interactive computer-based risk screening (IT) and paper-based risk screening (PT) tools were applied. Participants aged over 25 years with no known diabetes were recruited in six participating pharmacies. Results: A total of 187 clients, mean aged (+SD) was 48.6 (+10.9) years. 35% were at high risk. The mean value of willingness-to-pay for the service fee in IT group was significantly higher than PT group (p=0.013). No significant difference observed for the satisfaction between groups. Conclusions: Non-invasive risk assessment tool, whether paper-based or computerized-based can be applied in community pharmacy to support the enhancing role of pharmacists in chronic disease management. Long term follow up is needed to determine the impact of its application in clinical, humanistic and economic outcomes.

Keywords: community pharmacy, intervention, prevention, risk assessment, type 2 diabetes

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Authors: Heba Abdelmotaal, Magdy Abdel-Kader

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Purpose: This study explores whether a firm’s effective political risk management is preventing real and accrual earnings management . Design/methodology/approach: Based on a sample of 130 firms operating in Egypt during the period 2008-2013, two hypotheses are tested using the panel data regression models. Findings: The empirical findings indicate a significant relation between real and accrual earnings management and political risk. Originality/value: This paper provides a statistically evidence on the effects of the political risk management failure on the mangers’ engagement in the real and accrual earnings management practices, and its impact on the firm’s performance.

Keywords: political risk, risk management failure, real activities manipulation, accrual earnings management

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Authors: Finbarr Murphy, Wei Xu, Xian Xu

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The embedding of digital technologies in the global economy has attracted increasing attention from economists. With a large and detailed dataset, this study examines the specific case where consumers have a choice between offline and digital channels in the context of insurance purchases. We find that digital channels screen consumers with lower unobserved risk. For the term life, endowment, and disease insurance products, the average risk of the policies purchased through digital channels was 75%, 21%, and 31%, respectively, lower than those purchased offline. As a consequence, the lower unobserved risk leads to weaker information asymmetry and higher profitability of digital channels. We highlight three mechanisms of the risk screening effect: heterogeneous marginal influence of channel features on insurance demand, the channel features directly related to risk control, and the link between the digital divide and risk. We also find that the risk screening effect mainly comes from the extensive margin, i.e., from new consumers. This paper contributes to three connected areas in the insurance context: the heterogeneous economic impacts of digital technology adoption, insurer-side risk selection, and insurance marketing.

Keywords: digital economy, information asymmetry, insurance, mobile application, risk screening

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Authors: Prandesha Govender, Chris Cloete

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Purpose: The objective of the paper is to develop a tool for the evaluation of the financial risk of a shopping center. Methodology: Important factors that indicate the success of a shopping center were identified from the available literature. Weights were allocated to these factors and a risk rating was calculated for 505 shopping centers in the largest province in South Africa by taking the factor scores, factor weights, and category weights into account. The ratings for ten randomly selected shopping centers were correlated with consumer feedback and standardized against the ECAI (External Credit Assessment Institutions) data for the same centers. The ratings were also mapped to corporates with the same risk rating to provide a better intuitive assessment of the meaning of the inherent risk of each center. Results: The proposed risk tool shows a strong linear correlation with consumer views and can be compared to expert opinions, such as that of fund managers and REITs. Interpretation of the tool was also illustrated by correlating the risk rating of selected shopping centers to the risk rating of reputable and established entities. Conclusions: The proposed Shopping Centre Risk Tool, used in conjunction with financial inputs from the relevant center, should prove useful to an investor when the desirability of investment in or expansion, renovation, or purchase of a shopping center is being considered.

Keywords: risk, shopping centres, risk modelling, investment, rating tool, rating scale

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Authors: Taonga Temwani Chibaka

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This qualitative research study was conducted to identify the common risk factors that affect the construction industry in Malawi in the building and infrastructure (civil works) projects. The study then evaluates the possible risk responses that are done to mitigate the various risk factors that were identified. I addition the research also established the barriers to risk management implementation with lastly mapping out as where the identified risk factors fall on which stage of the project and then also map out the knowledge areas that need to be worked on the cases on Malawian construction industry in order to mitigate most of the identified risk factors. The study involved the interviewing the professionals from the construction industry in Malawi where insights and ideas were collected, analysed and interpreted. The key study findings show that risks related to clients group are perceived as most critical followed by the contractor related, consultant related and then external group related factors respectively where preventive measures are the most applied risk response technique where the aim to avoid most of the risk factors from happening. Most of the risk factors identified were internal risks and in managerial category which suggested that risk planning was to be emphasized at pre-contract stage to minimize these risks since a bigger percentage of the risk factors were mapped out at implementation stage. Furthermore, barriers to risk management were identified and the key barriers were lack of awareness; lack of knowledge; lack of formal policies in place; regarded as costly and limited time which resulted in proposing that regulating authorities to purposefully introduce intense training on risk management to make known of this new knowledge area. The study then recommends that organisation should formally implement risk management where policies should be introduced to enforce all parties to undertake this. Risk planning was regarded as paramount and this to be done from pre-contract phase so as to mitigate 80% of the risk factors. Finally, training should be done on all project management knowledge areas.

Keywords: risk management, risk factors, risks, malawi

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Authors: Yoftahe Nigussie Worku

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This study focused on designing a Fire tube boiler to generate saturated steam with a 2000kg/h capacity at a 12bar design pressure. The primary project goal is to achieve efficient steam production while minimizing costs. This involves selecting suitable materials for component parts, employing cost-effective construction methods, and optimizing various parameters. The analysis phase employs iterative processes and relevant formulas to determine key design parameters. This includes optimizing the diameter of tubes for overall heat transfer coefficient, considering a two-pass configuration due to tube and shell size, and using heavy oil fuel no.6 with specific heating values. The designed boiler consumes 140.37kg/hr of fuel, producing 1610kw of heat at an efficiency of 85.25%. The fluid flow is configured as cross flow, leveraging its inherent advantages. The tube arrangement involves welding the tubes inside the shell, which is connected to the tube sheet using a combination of gaskets and welding. The design of the shell adheres to the European Standard code for pressure vessels, accounting for weight and supplementary accessories and providing detailed drawings for components like lifting lugs, openings, ends, manholes, and supports.

Keywords: efficiency, coefficient, saturated steam, fire tube

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Authors: Kudu Dangana

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The occurrences of disaster often call for the support of both government and non-government organization. Consequently, disaster relief remains extremely important in disaster management. However, this approach alone does not proactively address the need to adduce the human and environment impacts of future disasters. Recent thinking in the area of disaster management is indicative of the need for a new paradigm that focuses on reducing the risk of disasters with the involvement and participation of communities. This paper reviews the need for communities to place more emphasis on a holistic approach to disaster risk reduction. This approach involves risk assessment, risk reduction, early warning and disaster preparedness in order to effectively address the reduction of social, economic, and environmental costs of disasters nationally and at the global level.

Keywords: disaster, early, management, warning, relief, risk vulnerability

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Authors: Ivana Mokrá

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The article deals with modelling of the fire pragmatism in the area of military management and its experimental verification. Potential approaches are based on the synergy of mathematical and theoretical ideas, operational and tactical requirements and the military decision-making process. This issue has taken on importance in recent times, particularly with the increasing trend of digitized battlefield, the development of C4ISR systems and intention to streamline the command and control process at the lowest levels of command. From fundamental and philosophical point of view, these new approaches seek to significantly upgrade and enhance the decision-making process of the tactical commanders.

Keywords: military management, decision-making process, strike modeling, experimental evaluation, pragmatism, tactical strike modeling

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Authors: Mohammad Nazri Mustafa, Pedram Hatami Abdullah, M. Fakhrur Razi Ahmad Faizul

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With the issuance of Malaysian National Annex 2017 as a part of MS EN 1998-1:2015, the seismic mapping of Malaysian Peninsular including Sabah and Sarawak has undergone some changes in terms of the Peak Ground Acceleration (PGA) value. The revision to the PGA has raised a concern on the safety of oil and gas onshore structures as these structures were not designed to accommodate the new PGA values which are much higher than the previous values used in the original design. In view of the high numbers of structures and buildings to be re-assessed, a risk assessment methodology has been developed to prioritize and rank the assets in terms of their criticality against the new seismic loading. To-date such risk assessment method for oil and gas onshore structures is lacking, and it is the main intention of this technical paper to share the risk assessment methodology and risk elements scoring finalized via Delphi Method. The finalized methodology and the values used to rank the risk elements have been established based on years of relevant experience on the subject matter and based on a series of rigorous discussions with professionals in the industry. The risk scoring is mapped against the risk matrix (i.e., the LOF versus COF) and hence, the overall risk for the assets can be obtained. The overall risk can be used to prioritize and optimize integrity assessment, repair and strengthening work against the new seismic mapping of the country.

Keywords: methodology, PGA, risk, seismic

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Authors: Gopinath Rathod, Vinod Puranik

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Sustainability is regarded as a key concept for survival in the competitive scenario. Industrial risk and diversification of risk type’s increases with industrial developments. In the context of sustainable manufacturing, the evaluation of risk is difficult because of the incomplete information and multiple indicators. Fuzzy Multiple Attribute Decision Method (FMADM) has been used with a three level hierarchical decision making model to evaluate aggregate risk for sustainable manufacturing projects. A case study has been presented to reflect the risk characteristics in sustainable manufacturing projects.

Keywords: sustainable manufacturing, decision making, aggregate risk, fuzzy logic, fuzzy multiple attribute decision method

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Authors: Aparna Viswanath

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Electricity spot prices are highly volatile under optimal generation capacity scenarios due to factors such as non-storability of electricity, peak demand at certain periods, generator outages, fuel uncertainty for renewable energy generators, huge investments and time needed for generation capacity expansion etc. As a result market participants are exposed to price and volume risk, which has led to the development of risk management practices. This paper provides an overview of risk management practices by market participants in electricity markets using financial derivatives.

Keywords: financial derivatives, forward, futures, options, risk management

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Authors: Sirus Sharifi, Arunima Haldar, S. V. D. Nageswara Rao

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This research analyzes the effect of credit risk management practices of commercial banks in India and the relationship with their non-performing assets (NPAs). Required data on credit risk performance was collected through a survey questionnaire from top risk officers of 38 Indian banks. NPA data (period from 2012 to 2016) was collected from Prowess database compiled by the Centre for Monitoring Indian Economy (CMIE). The model was assessed utilizing cross sectional regression method. As expected, the results indicate a negative significant relationship between credit risk management in India banks and their NPA growth. The research has implications for banks given the high level of losses in India and other economies as well, and the implementation of Basel III standards by the central banks. This research would be an evidence on credit risk performance and its relationship with the level of non-performing assets (NPAs) in Indian banks.

Keywords: risk management, risk identification, banks, Non-Performing Assets (NPAs)

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Authors: Witthaya Mekhum, Waleerak Sittisom

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This research investigated the effect on occupational health safety and environment at work from metal handicraft using Rattanakosin local wisdom focusing on pollution, accidents, and injuries from work. The sample group in this study included 48 metal handicraft workers in 5 communities by using questionnaires and interview to collect data. The evaluation form TISI 18001 was used to analyze job safety analysis (JSA). The results showed that risk at work reduced after applying the developed model. Banbu Community produces alloy bowl rubbed with stone. The high risk process is melting and hitting process. Before the application, the work risk was 82.71%. After the application of the developed model, the work risk was reduced to 50.61%. Banbart Community produces monk’s food bowl. The high risk process is blow pipe welding. Before the application, the work risk was 93.59%. After the application of the developed model, the work risk was reduced to 48.14%. Bannoen Community produces circle gong. The high risk process is milling process. Before the application, the work risk was 85.18%. After the application of the developed model, the work risk was reduced to 46.91%. Teethong Community produces gold leaf. The high risk process is hitting and spreading process. Before the application, the work risk was 86.42%. After the application of the developed model, the work risk was reduced to 64.19%. Ban Changthong Community produces gold ornament. The high risk process is gold melting process. Before the application, the work risk was 67.90%. After the application of the developed model, the work risk was reduced to 37.03%. It can be concluded that with the application of the developed model, the work risk of 5 communities was reduced in the 3 main groups: (1) Work illness reduced by 16.77%; (2) Pollution from work reduced by 10.31%; (3) Accidents and injuries from work reduced by 15.62%.

Keywords: occupational health, safety, local wisdom, Rattanakosin

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Authors: Razan Salem

Abstract:

Men and women have different approaches towards investing, both in terms of strategies and risk attitudes. This study aims to focus mainly on investigating the financial risk behaviors of Arab women investors and to examine the financial risk tolerance levels of Arab women relative to Arab men investors. Using survey data on 547 Arab men and women investors, the results of Wilcoxon Signed-Rank (One-Sample) test Mann-Whitney U test reveal that Arab women are risk-averse investors and have lower financial risk tolerance levels relative to Arab men. Such findings can be explained by the fact of women's nature and lower investment literacy levels. Further, the current political uncertainty in the Arab region may be considered as another explanation of Arab women’s risk aversion behavior. The study's findings support the existing literature by validating the stereotype of “women are more risk-averse than men” in the Arab region. Overall, when it comes to investment and financial behaviors, women around the world behave similarly.

Keywords: Arab region, culture, financial risk behavior, gender differences, women investors

Procedia PDF Downloads 145

Authors: Gregory Sullivan

Abstract:

The evolution of global warming has escalated the number and complexity of forest fires around the world. As an example, the United States and Brazil combined generated more than 30,000 forest fires last year. The impact to our environment, structures and individuals is incalculable. The world has learned to try to take this in stride, trying multiple ways to contain fires. Some countries are trying to use cameras in limited areas. There are discussions of using hundreds of low earth orbit satellites and linking them together, and, interfacing them through ground networks. These are all truly noble attempts to defeat the forest fire phenomenon. But there is a better, simpler answer. A bigger piece of the solutions puzzle is to see the fires while they are small, soon after initiation. The approach is to see the fires while they are very small and report their location (latitude and longitude) to local first responders. This is done by placing a sensor at geostationary orbit (GEO: 26,000 miles above the earth). By placing this small satellite in GEO, we can “stare” at the earth, and sense temperature changes. We do not “see” fires, but “measure” temperature changes. This has already been demonstrated on an experimental scale. Fires were seen at close to initiation, and info forwarded to first responders. it were the first to identify the fires 7 out of 8 times. The goal is to have a small independent satellite at GEO orbit focused only on forest fire initiation. Thus, with one small satellite, focused only on forest fire initiation, we hope to greatly decrease the impact to persons, property and the environment.

Keywords: space detection, wildfire early warning, demonstration wildfire detection and action from space, space detection to first responders

Procedia PDF Downloads 43

Authors: Siti Nor Amira Bt. Mohamad, Mohamad Yazis B. Ali Basah, Muhammad Ridhwan B. Ab. Aziz, Khairil Faizal B. Khairi, Mazlynda Bt. Md. Yusuf, Hisham B. Sabri

Abstract:

The understanding of risk and the concept of it occurs associated in Islamic financing was well-known in the financial industry by the using of Profit-and-Loss Sharing (PLS). It was presently in any Islamic financial transactions in order to comply with shariah rules. However, the existence of risk in Murabahah contract of financing is an ability that the counterparty is unable to complete its obligations within the agreed terms. Therefore, it is called as credit or default risk. Credit risk occurs when the client fails to make timely payment after the bank makes complete delivery of assets. Thus, it affects the growth of the bank as the banking business is in no position to have appropriate measures to cover the risk. Therefore, the bank may impose penalty on the outstanding balance. This paper aims to highlight the credit risk determinant and issues surrounding in Islamic bank in Malaysia in terms of Murabahah financing and how to manage it by using the proper techniques. Finally, it explores the credit risk management concept that might solve the problems arise. The study found that the credit risk can be managed properly by improving the use of comprehensive reference checklist of business partners on their character and past performance as well as their comprehensive database. Besides that, prevention of credit risk can be done by using collateral as security against the risk and we also argue on the Shariah guidelines and procedures should be implement coherently by the banking business because so that the risk would be control by having an effective instrument for Islamic modes of financing.

Keywords: Islamic banking, credit risk, Murabahah financing, risk mitigation

Procedia PDF Downloads 427