Search results for: proximity of risk

Authors: Amare Nigatu, Mågne Bratveit, Bente E. Moen

Abstract:

Background: Pesticide exposure is an important public health concern in Ethiopia, but there is limited information on pesticide intoxications. Residents may have an increased risk of pesticide exposure through proximity of their homes to farms using pesticides. Also the pesticide exposure might be related to employment at these farms. This study investigated the prevalence of acute pesticide intoxications (API) by residence proximity to a nearby flower farm and assessed if intoxications are related to working there or not. Methods: A cross-sectional survey involving 516 persons was conducted. Participants were grouped according to their residence proximity from a large flower farm; living within 5 kilometers and 5-12 kilometers away, respectively. In a structured interview, participants were asked if they had health symptoms within 48 hours of pesticide exposure in the past year. Those, who had experienced this and reported two or more typical pesticide intoxication symptoms, were considered as having had API. Chi-square and independent t-tests were used to compare categorical and continuous variables, respectively. Confounding variables were adjusted by using binomial regression model. Results: The prevalence of API in the past year among the residents in the study area was 26%, and it was higher in the population living close to the flower farm (42%) compared to those living far away (11%), prevalence ratio (PR) = 3.2, 95% CI: 2.2-4.8, adjusted for age, gender & education. A subgroup living close to the farm & working there had significantly more API (56%) than those living close & did not work there (16%), adjusted PR = 3.0, 95% CI: 1.8-4.9. Flower farm workers reported more API (56%) than those not working there (13%,), adjusted PR = 4.0, 95% CI: 2.9-5.6. Conclusion: The residents living closer than 5 kilometers to the flower farm reported significantly higher prevalence of API than those living 5-12 kilometers away. This increased risk of API was associated with work at the flower farm.

Keywords: acute pesticide intoxications, self-reported symptoms, flower farm workers, living proximity

Procedia PDF Downloads 250

Authors: Yazid Alkraimeen

Abstract:

Precise prediction of dielectric stresses and high voltages of power transformers require the accurate calculation of frequency-dependent parameters. A lack of accuracy can result in severe damages to transformer windings. Transient conditions is stuided by digital computers, which require the implementation of accurate models. This paper analyzes the computation of frequency-dependent skin and proximity losses included in the transformer winding model, using analytical equations and Finite Element Method (FEM). A modified formula to calculate the proximity and the skin losses is presented. The results of the frequency-dependent parameter calculations are verified using the Finite Element Method. The time-domain transient voltages are obtained using Numerical Inverse Laplace Transform. The results show that the classical formula for proximity losses is overestimating the transient voltages when compared with the results obtained from the modified method on a simple transformer geometry.

Keywords: fast front transients, proximity losses, transformer winding modeling, skin losses

Procedia PDF Downloads 104

Authors: Marcello Lussana

Abstract:

Closer is a wireless system developed by the “Design Research Lab” of the UdK Berlin that is able to detect the proximity and touch between two (or more) persons. We have been using this system for one performance and one installation: in both cases, the proximity and touch events of the two participants have been sonified using the software Supercollider. In this paper, we are going to focus on the actual experience of the participants involved, especially related to the awareness of their body, their level of proprioception and how they felt in their body and in connection with the other person. In order to give value to the lived experience of the participant, a phenomenological method described and developed by Professor Claire Petitmengin has been used. This strategy allowed the interviewees to become aware of their subjective experience, and describe it with great precision. This is essential in order to understand the actual state of consciousness of the users. Our aim is to research the senses of proprioception, touch, and proximity: as they all involve a pre-reflective state of consciousness, they are central for the understanding of human perception. The interviews revealed how this experience could improve and increase proprioception and awareness of your body.

Keywords: interactive sound, phenomenology, pre-reflective, proprioception, subjective experience

Procedia PDF Downloads 212

Authors: T. Nakkeran, C. Dhamodharan, Win Myint Soe , Ramasamy Deverajan, M. Ganesh Babu

Abstract:

This manuscript presents the results of an experimental investigation performed to study the material and mechanical properties of two weld joints fabricated within close proximity. The experiment was designed using welded S355 D Z35 with distances between two parallel adjacent weld toes at 8 mm. These distances were less than the distance that has normally been recommended in standards, codes, and specifications. The main idea of the analysis is to determine any significant effects when welding the joints with the close proximity of 8mm using the SAW welding process of the one joint with high heat put and one joint welded with the FCAW welding process and evaluating the destructing and nondestructive testing between the welded joints. Further, we have evaluated the joints with Mechanical Testing for evaluating by performing Tensile test, bend testing, Macrostructure, Microstructure, Hardness test, and Impact testing. After evaluating the final outcome of the result, no significant changes were observed for welding the close proximity of weld of 8mm distance between the joints as compared to the specification minimum distance between the weldments of any design should be 50mm.

Keywords: S355 carbon steel, weld proximity, SAW process, FCAW process, heat input, bend test, tensile test, hardness test, impact test, macro and microscopic examinations

Procedia PDF Downloads 60

Authors: Mohammed El-Arbi Khalfallah, Mohamed Lakhdar Hadji

Abstract:

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

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

Procedia PDF Downloads 404

Authors: Moon-Tak Oh, Kyung-Min Park, Tae-Eun Yoon, Hoon Choi, Chil-Woo Lee

Abstract:

This paper is about middle-ware which enables group-user applications on mobile devices in physical proximity to interact with other devices without intervention of a central server. Requirements of the middle-ware are identified from service usage scenarios, and the functional architecture of the middle-ware is specified. These requirements include group management, synchronization, and resource management. Group Management needs to provide various capabilities to such applications with respect to managing multiple users (e.g., creation of groups, discovery of group or individual users, member join/leave, election of a group manager and service-group association) using D2D communication technology. We designed the middle-ware for the above requirements on the Android platform.

Keywords: group user, middleware, mobile service, physical proximity

Procedia PDF Downloads 476

Authors: K. Umbleja, M. Ichino, H. Yaguchi

Abstract:

In this paper, we propose a coloring method for multivariate data visualization by using parallel coordinates based on dissimilarity and tree structure information gathered during hierarchical clustering. The proposed method is an extension for proximity-based coloring that suffers from a few undesired side effects if hierarchical tree structure is not balanced tree. We describe the algorithm by assigning colors based on dissimilarity information, show the application of proposed method on three commonly used datasets, and compare the results with proximity-based coloring. We found our proposed method to be especially beneficial for symbolic data visualization where many individual objects have already been aggregated into a single symbolic object.

Keywords: data visualization, dissimilarity-based coloring, proximity-based coloring, symbolic data

Procedia PDF Downloads 132

Authors: K. Sekulová, M. Šimon

Abstract:

This article focuses on upper-extremity musculoskeletal disorders risk assessment model at workplace. In this model are used risk factors that are responsible for musculoskeletal system damage. Based on statistic calculations the model is able to define what risk of MSD threatens workers who are under risk factors. The model is also able to say how MSD risk would decrease if these risk factors are eliminated.

Keywords: ergonomics, musculoskeletal disorders, occupational diseases, risk factors

Procedia PDF Downloads 503

Authors: Kushal Kumar Chode, Remus Miahi Cirstea

Abstract:

In recent times, the drive towards more efficient vehicles and the increase in the number of vehicle on the roads has driven the aerodynamic researchers from studying the vehicle in isolation towards understanding the benefits of vehicle platooning. Vehicle platooning is defined as a series of vehicles traveling in close proximity. Due to the limitations in size and load measurement capabilities for the wind tunnels facilities, it is very difficult to perform this investigation experimentally. In this paper, the use of chimera or overset meshing technique is used within the STARCCM+ software to model the flow surrounding two identical vehicle models travelling in close proximity and also during an overtaking maneuver. The results are compared with data obtained from a polyhedral mesh and identical physics conditions. The benefits in terms of computational time and resources and the accuracy of the overset mesh approach are investigated.

Keywords: chimera mesh, computational accuracy, overset mesh, platooning vehicles

Procedia PDF Downloads 319

Authors: Massimo Tadi, M. Hadi Mohammad Zadeh, Ozge Ogut

Abstract:

Although how cities’ forms are structured is studied, more efforts are needed on systemic comprehensions and evaluations of the urban morphology through quantitative metrics that are able to describe the performance of a city in relation to its formal properties. More research is required in this direction in order to better describe the urban form characteristics and their impact on the environmental performance of cities and to increase their sustainability stewardship. With the aim of developing a better understanding of the built environment’s systemic structure, the intention of this paper is to present a holistic methodology for studying the behavior of the built environment and investigate the methods for measuring the effect of urban structure to the environmental performance. This goal will be pursued through an inquiry into the morphological components of the urban systems and the complex relationships between them. Particularly, this paper focuses on proximity, referring to the proximity of different land-uses, is a concept with which Integrated Modification Methodology (IMM) explains how land-use allocation might affect the choice of mobility in neighborhoods, and especially, encourage or discourage non-motived mobility. This paper uses proximity to demonstrate that the structure attributes can quantifiably relate to the performing behavior in the city. The target is to devise a mathematical pattern from the structural elements and correlate it directly with urban performance indicators concerned with environmental sustainability. The paper presents some results of this rigorous investigation of urban proximity and its correlation with performance indicators in four different areas in the city of Milan, each of them characterized by different morphological features.

Keywords: built environment, ecology, sustainable indicators, sustainability, urban morphology

Procedia PDF Downloads 130

Authors: K. Sekulová, M. Šimon

Abstract:

The article demonstrates on a case study how it is possible to identify MSD risk. It is based on a dissertation risk identification model of occupational diseases formation in relation to the work activity that determines what risk can endanger workers who are exposed to the specific risk factors. It is evaluated based on statistical calculations. These risk factors are main cause of upper-extremities musculoskeletal disorders.

Keywords: case study, upper-extremity musculoskeletal disorders, ergonomics, risk identification

Procedia PDF Downloads 463

Authors: Ruchi Agarwal, Jake Ansell

Abstract:

Austerity impacts on all aspects of society. Companies into the future will have to be more capable of dealing with the risks they face. Enterprise Risk Management (ERM) has widely been accepted in recent years as an approach to manage risks within businesses. ERM attempts to tackle risk holistically with gains from opportunities in a managing risk and reduction in the risk of failure. The paper reviews merits and demerits of approaches to risk management in regard to antifragility. A qualitative study has investigated current practices and the problems with ERM implementation by interviewing over 25 chief risk officers and senior management. The findings indicate the gap in ERM description, understanding, and implementation. The paper suggests risk learning and expertise knowledge supports development of effective enterprise risk management by designing systems with inherent resilience.

Keywords: risk management, interviews, antifragility, failure

Procedia PDF Downloads 519

Authors: Ravi Nandu, Kuldeep Singh

Abstract:

A helmet is a protective layer that is worn in order to prevent head injury. Helmet is the most important safety gear for two wheeler riders. However, due to carelessness of people, less importance toward safety, lot of causalities is every year. According to National Crime Records Bureau (NCRB) two wheelers claimed 92 lives every day out of which most were due to helmetless drive. The system design will be such that without wearing the helmet the rider cannot start two wheelers. The helmet will be connected to vehicle key ignition systems which will be electronically controlled. The smart helmet will be having proximity sensor fitted inside it, which will act as our switch for ignition and further with wireless connection the helmet sensor circuit will be connected to the vehicle ignition system.

Keywords: helmet, proximity sensor, microcontroller, head injury

Procedia PDF Downloads 276

Authors: Najeebah Almahmeed

Abstract:

Risk Management is an evolving subject among organizations that include corporations, governments, non-governmental organizations, and not-for-profit corporations. In order to enhance awareness around the importance of Risk Management and make sure everyone is using it in their day-to-day job, the Risk Culture topic has emerged and gained importance not only in the Finance Sector but also in the National Oil Companies in Kuwait. Risk Culture can be defined as the shared beliefs, attitudes, and behaviors within a company that guide its approach to managing risks. It acts as a connecting force that links policies, procedures, and individuals, influencing how risks are understood and tackled through activities. In this research, benefits of Risk Culture are shared, guidelines are presented to promote a risk aware culture, and fully embed and enforce Risk-based processes and procedures. Moreover, this research demonstrates methodologies of measuring the Risk Culture using specific dimensions and clusters.

Keywords: clusters, dimensions, national oil companies, risk culture, risk management

Procedia PDF Downloads 37

Authors: Pui Yong Leo, Normy Maziah Mohd Said

Abstract:

Change of global economy landscape and business environment has led to companies’ decision to go global and enter international markets. As the companies go beyond the comfort zone (i.e. investing in the home country), it is important to ensure a comprehensive risk assessment is carried out. This paper describes a standardized approach for international investment, ensuring identification of risk, risk appetite, risk rating, risk treatment and mitigation plans for respective international investment proposal. The standardized approach is divided into three (3) stages as follows: Stage 1 – Preliminary Risk profiling; with the objective to gauge exposure to countries and high level risk factors as first level assessment. Stage 2 – Risk Parameters; with the objective to define risk appetite for the international investment from the perspective of likelihood and impact. Stage 3 – Detailed Risk Assessments; with the objectives to assess in detail any triggered elements from Stage 1, and project specific risks. The final output will include the mitigation plans for the identified risks for the total investment. Example will be given in this paper to show how comprehensive risk assessment is carried out for an international investment in power energy sector.

Keywords: international investment, mitigation plans, risk appetite, risk assessment

Procedia PDF Downloads 339

Authors: Phayong Thepaksorn

Abstract:

The objective of this study was to assess whether living in proximity to a roofing fiber cement factory in southern Thailand was associated with physical, mental, social, and spiritual health domains measured in a self-reported health risk assessment (HRA) questionnaire. A cross-sectional study was conducted among community members divided into two groups: near population (living within 0-2 km of factory) and far population (living within 2-5 km of factory)(N=198). A greater proportion of those living far from the factory (65.34%) reported physical health problems than the near group (51.04 %)(p=0.032). This study has demonstrated that the near population group had higher proportion of participants with positive ratings on mental assessment (30.34%) and social health impacts (28.42%) than far population group (10.59% and 16.67 %, respectively) (p<0.001). The near population group (29.79%) had similar proportion of participants with positive ratings in spiritual health impacts compared with far population group (27.08%). Among females, but not males, this study demonstrated that a higher proportion of the near population had a positive summative score for the self-HRA, which included all four health domain, compared to the far population (p <0.001 for females; p=0.154 for males). In conclusion, this self-HRA of physical, mental, social, and spiritual health domains reflected the risk perceptions of populations living in the vicinity of the roofing fiber cement factory. This type of tool can bring attention to population concerns and complaints in the factory’s surrounding community. Our findings may contribute to future development of self-HRA for HIA development procedure in Thailand.

Keywords: cement dust, health impact assessment, risk assessment, walk-though survey

Procedia PDF Downloads 344

Authors: Baobao Li

Abstract:

Operational risk covers all operations of commercial banks and has a close relationship with the bank’s internal control. But in the commercial banks' management practice, internal control is always separated from the operational risk measurement. With the increasing of operational risk events in recent years, operational risk is paid more and more attention by regulators and banks’ managements. The paper first discussed the relationship between internal control and operational risk management and used CVaR-POT model to measure operational risk, and then put forward a modified measurement method (to use operational risk assessment results to modify the measurement results of the CVaR-POT model). The paper also analyzed the necessity and rationality of this method. The method takes into consideration the influence of internal control, improves the accuracy and effectiveness of operational risk measurement and save the economic capital for commercial banks, avoiding the drawbacks of using some mainstream models one-sidedly.

Keywords: commercial banks, internal control, operational risk, risk measurement

Procedia PDF Downloads 361

Authors: Gus Calderon, Richard McCreight, Tammy Schwartz

Abstract:

Forensic analysis of community wildfire destruction in California has shown that reducing or removing flammable vegetation in proximity to buildings and structures is one of the most important wildfire defenses available to homeowners. State laws specify the requirements for homeowners to create and maintain defensible space around all structures. Unfortunately, this decades-long effort had limited success due to noncompliance and minimal enforcement. As a result, vulnerable communities continue to experience escalating human and economic costs along the wildland-urban interface (WUI). Quantifying vegetative fuels at both the community and parcel scale requires detailed imaging from an aircraft with remote sensing technology to reduce uncertainty. FireWatch has been delivering high spatial resolution (5” ground sample distance) wildfire hazard maps annually to the community of Rancho Santa Fe, CA, since 2019. FireWatch uses a multispectral imaging system mounted onboard an aircraft to create georeferenced orthomosaics and spectral vegetation index maps. Using proprietary algorithms, the vegetation type, condition, and proximity to structures are determined for 1,851 properties in the community. Secondary data processing combines object-based classification of vegetative fuels, assisted by machine learning, to prioritize mitigation strategies within the community. The remote sensing data for the 10 sq. mi. community is divided into parcels and sent to all homeowners in the form of defensible space maps and reports. Follow-up aerial surveys are performed annually using repeat station imaging of fixed GPS locations to address changes in defensible space, vegetation fuel cover, and condition over time. These maps and reports have increased wildfire awareness and mitigation efforts from 40% to over 85% among homeowners in Rancho Santa Fe. To assist homeowners fighting increasing insurance premiums and non-renewals, FireWatch has partnered with Black Swan Analytics, LLC, to leverage the multispectral imagery and increase homeowners’ understanding of wildfire risk drivers. For this study, a subsample of 100 parcels was selected to gain a comprehensive understanding of wildfire risk and the elements which can be mitigated. Geospatial data from FireWatch’s defensible space maps was combined with Black Swan’s patented approach using 39 other risk characteristics into a 4score Report. The 4score Report helps property owners understand risk sources and potential mitigation opportunities by assessing four categories of risk: Fuel sources, ignition sources, susceptibility to loss, and hazards to fire protection efforts (FISH). This study has shown that susceptibility to loss is the category residents and property owners must focus their efforts. The 4score Report also provides a tool to measure the impact of homeowner actions on risk levels over time. Resiliency is the only solution to breaking the cycle of community wildfire destruction and it starts with high-quality data and education.

Keywords: defensible space, geospatial data, multispectral imaging, Rancho Santa Fe, susceptibility to loss, wildfire risk.

Procedia PDF Downloads 66

Authors: Melese Wondatir

Abstract:

Flooding ranks among the most destructive natural disasters, impacting millions of individuals globally and resulting in substantial economic, social, and environmental repercussions. This study's objective was to create a comprehensive model that assesses the Nile River basin's susceptibility to flood damage and improves existing flood risk management strategies. Authorities responsible for enacting policies and implementing measures may benefit from this research to acquire essential information about the flood, including its scope and susceptible areas. The identification of severe flood damage locations and efficient mitigation techniques were made possible by the use of geospatial data. Slope, elevation, distance from the river, drainage density, topographic witness index, rainfall intensity, distance from road, NDVI, soil type, and land use type were all used throughout the study to determine the vulnerability of flood damage. Ranking elements according to their significance in predicting flood damage risk was done using the Analytic Hierarchy Process (AHP) and geospatial approaches. The analysis finds that the most important parameters determining the region's vulnerability are distance from the river, topographic witness index, rainfall, and elevation, respectively. The consistency ratio (CR) value obtained in this case is 0.000866 (<0.1), which signifies the acceptance of the derived weights. Furthermore, 10.84m2, 83331.14m2, 476987.15m2, 24247.29m2, and 15.83m2 of the region show varying degrees of vulnerability to flooding—very low, low, medium, high, and very high, respectively. Due to their close proximity to the river, the northern-western regions of the Nile River basin—especially those that are close to Sudanese cities like Khartoum—are more vulnerable to flood damage, according to the research findings. Furthermore, the AUC ROC curve demonstrates that the categorized vulnerability map achieves an accuracy rate of 91.0% based on 117 sample points. By putting into practice strategies to address the topographic witness index, rainfall patterns, elevation fluctuations, and distance from the river, vulnerable settlements in the area can be protected, and the impact of future flood occurrences can be greatly reduced. Furthermore, the research findings highlight the urgent requirement for infrastructure development and effective flood management strategies in the northern and western regions of the Nile River basin, particularly in proximity to major towns such as Khartoum. Overall, the study recommends prioritizing high-risk locations and developing a complete flood risk management plan based on the vulnerability map.

Keywords: analytic hierarchy process, Blue Nile Basin, geospatial techniques, flood vulnerability, multi-criteria decision making

Procedia PDF Downloads 28

Authors: Rashid Masoud Ali Al-Mazrui, Ramadhani Mashaka Shabani

Abstract:

Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance.

Keywords: emerging risk, risk management, Islamic banking, conventional bank

Procedia PDF Downloads 37

Authors: Cinzia Carrodano, Dimitri Konstantas

Abstract:

Risk is part of our lives. In today’s society risk is connected to our safety and safety has become a major priority in our life. Each person lives his/her life based on the evaluation of the risk he/she is ready to accept and sustain, and the level of safety he/she wishes to reach, based on highly personal criteria. The assessment of risk a person takes in a complex environment and the impact of actions of other people’actions and events on our perception of risk are alements to be considered. The concept of Holistic Risk Assessment (HRA) aims in developing a methodology and a model that will allow us to take into account elements outside the direct influence of the individual, and provide a personalized risk assessment. The concept is based on the fact that in the near future, we will be able to gather and process extremely large amounts of data about an individual and his/her environment in real time. The interaction and correlation of these data is the key element of the holistic risk assessment. In this paper, we present the HRA concept and describe the most important elements and considerations.

Keywords: continuous data, dynamic risk, holistic risk assessment, risk concept

Procedia PDF Downloads 82

Authors: Olaniyi O. Omoyajowo

Abstract:

To be successful in today’s competitive global environment, manufacturing industry must be able to respond quickly to changes in technology. These changes in technology introduce new risks and hazards. The management of risk/hazard in a manufacturing process recommends method through which the success rate of an organization can be increased. Thus, there is a continual need for manufacturing industries to invest significant amount of resources in risk management, which in turn optimizes the production output and profitability of any manufacturing industry (if implemented properly). To help improve the existing risk prevention and mitigation practices in Small and Medium Enterprise (SME) in Nigeria Manufacturing Industries (NMI), the researcher embarks on this research to develop a systematic Risk Management process.

Keywords: manufacturing management, risk, risk management, SMEs

Procedia PDF Downloads 356

Authors: Phontip Kanlahasuth

Abstract:

This paper presents the environmental safety and occupational health risk assessment of rocket static test by assessing risk level from probability and severity and then appropriately applying the risk control measures. Before the environmental safety and occupational health measures are applied, the serious hazards level is 31%, medium level is 24% and low level is 45%. Once risk control measures are practically implemented, the serious hazard level can be diminished, medium level is 38%, low level is 45% and eliminated level is 17%. It is clearly shown that the environmental safety and occupational health measures can significantly reduce the risk level.

Keywords: rocket static test, hazard, risk, risk assessment, risk analysis, environment, safety, occupational health, acceptable risk, probability, severity, risk level

Procedia PDF Downloads 549

Authors: Saadia Drissi

Abstract:

The cloud computing is an innovative paradigm that introduces several changes in technology that have resulted a new ways for cloud providers to deliver their services to cloud consumers mainly in term of security risk assessment, thus, adapting a current risk assessment tools to cloud computing is a very difficult task due to its several characteristics that challenge the effectiveness of risk assessment approaches. As consequence, there is a need of risk assessment model adapted to cloud computing. This paper requires a new risk assessment model based on multi-agent system and AHP model as fundamental steps towards the development of flexible risk assessment approach regarding cloud consumers.

Keywords: cloud computing, risk assessment model, multi-agent system, AHP model, cloud consumer

Procedia PDF Downloads 512

Authors: Francis Edum-Fotwe, Tony Thorpe, Charles Afetornu

Abstract:

Risk perception informs the outcome of how issues are responded to in either solving or overcoming a problem or improving a situation. Risk perception is established to be affected by some key factors reflecting in the varying ways in which work is done as well as the level of efficiency achieved. These factors potentially would influence risk perception to different extents. Such that if these factors are said to determine risk perception, how does a change in any affect risk perception. Since the ability to address risk is influenced by risk perception, establishing and developing awareness of that perception should enable construction professionals to make viable decisions. Any act to improve the construction industry cannot be overemphasised, considering its contribution to national development. A survey questionnaire was conducted in Ghana to elicit data that measures the risk perception and the essential factors as well as the necessary demographics of the respondents, who are construction professionals. This study finds out the sensitivity of the critical factors of risk perception. It uses the Relative Importance Index analysis tool to investigate the differential effect of these essential factors on risk perception, such that a slight change in a factor makes a significant change in risk perception, having established that it is influenced by essential factors. The findings can lead to policy formation for employers on the prioritisation factors to undertake to improve the risk perception of employees. Other areas in which this study can be useful in team formation for sensitive and complex projects where efficient risk management is critical.

Keywords: construction industry, risk, risk management, risk perception

Procedia PDF Downloads 103

Authors: Mohamed Anouar Razgallah

Abstract:

This paper examines in the context of a one-period model the impact of background risk on the optimal secondary prevention. We conduct our study based on various configurations of the background risk. We intend to show that in most cases the level of secondary prevention effort varied after the introduction of background risk, however, in very few cases this level remains constant.

Keywords: secondary prevention, primary prevention, background risk, ecomomics

Procedia PDF Downloads 389

Authors: Charles Amoatey

Abstract:

The issue of risk in the mining industry is a global phenomenon and the Ghanaian mining industry is not exempted. The main purpose of this study is to identify the critical risk factors affecting the mining industry. The study takes an integrated view of the mining industry by examining the contribution of various risk factors to mining project failure in Ghana. A questionnaire survey was conducted to solicit the critical risk factors from key mining practitioners. About 80 respondents from 11 mining firms participated in the survey. The study identified 22 risk factors contributing to mining project failure in Ghana. The five most critical risk factors based on both probability of occurrence and impact were: (1) unstable commodity prices, (2) inflation/exchange rate, (3) land degradation, (4) high cost of living and (5) government bureaucracy for obtaining licenses. Furthermore, the study found that risk assessment in the mining sector has a direct link with mining project sustainability. Mitigation measures for addressing the identified risk factors were discussed. The key findings emphasize the need for a comprehensive risk management culture in the entire mining industry.

Keywords: risk, assessment, mining, Ghana

Procedia PDF Downloads 401

Authors: Jolanta Tamošaitienė

Abstract:

The article focuses on a developed comprehensive model to be used in an agile environment for the risk assessment and selection based on multi-attribute methods. The model is based on a multi-attribute evaluation of risk in construction, and the determination of their optimality criterion values are calculated using complex Multiple Criteria Decision-Making methods. The model may be further applied to risk assessment in an agile construction environment. The attributes of risk in a construction project are selected by applying the risk assessment condition to the construction sector, and the construction process efficiency in the construction industry accounts for the agile environment. The paper presents the comprehensive risk assessment model in an agile construction environment. It provides a background and a description of the proposed model and the developed analysis of the comprehensive risk assessment model in an agile construction environment with the criteria.

Keywords: assessment, environment, agile, model, risk

Procedia PDF Downloads 221

Authors: Shumaila Zeb

Abstract:

The proposed study aims to investigate insolvency risk of commercial banks of Pakistan. Furthermore, it empirically estimates the effect of already implemented financial regulations on the insolvency risk of banks. To carry out the empirical analysis, a balanced bank-level panel data covering the period 2008-2016 is used. The Z-score is used for calculating the insolvency risk of each bank. The panel regression is used to investigate the relationship between financial regulations and insolvency risk of banks. The empirics reveal that the financial regulations enforced by State Bank of Pakistan have significant impacts on the insolvency risk of banks. The results further indicate that loan ratio and reserve ratio are positively and significantly related to the insolvency risk of banks.

Keywords: insolvency risk, Z-score, financial regulations, banks

Procedia PDF Downloads 164

Authors: Ahmet Parlak, Celalettin Bilgen

Abstract:

In order to create an effective early warning system, Identification of the risks, preparation and carrying out risk modeling of risk scenarios, taking into account the shortcomings of the old disaster scenarios should be used to improve the system. In the light of this, the importance of risk modeling in creating an effective early warning system is understood. In the scope of TAFRISK project risk modeling trend analysis report on risk modeling developed and a demonstration was conducted for Risk Modeling for flood and mass movements. For risk modeling R&D, studies have been conducted to determine the information, and source of the information, to be gathered, to develop algorithms and to adapt the current algorithms to Turkey’s conditions for determining the risk score in the high disaster risk areas. For each type of the disaster; Disaster Deficit Index (DDI), Local Disaster Index (LDI), Prevalent Vulnerability Index (PVI), Risk Management Index (RMI) have been developed as disaster indices taking danger, sensitivity, fragility, and vulnerability, the physical and economic damage into account in the appropriate scale of the respective type.

Keywords: disaster, hazard, risk modeling, sensor

Procedia PDF Downloads 391