Search results for: geotechnical risks

Authors: Maryam Siyami

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Nowadays, one of the major environmental challenges is hospital waste, which, due to the presence of hazardous, toxic, and infectious agents, is of particular concern. The expansion of cities and population growth has significantly accelerated the establishment of various healthcare institutions. In this paper, the geotechnical-environmental risks in healthcare centers have been examined. The Iranian Leopold Matrix method was used to analyze the data. According to the study results, the greatest impact was related to socio-economic, environmental factors, particularly waste and wastewater management. Additionally, the most significant geotechnical-environmental risks at hospital were hospital hazardous waste, chemicals, and waste disposal. In conclusion, the most beneficial geotechnical-environmental measures were determined to be wastewater collection, waste collection, and recycling.

Keywords: risk, geotechnics, environment, Leopold Matrix

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Authors: Reza Mohammadzadeh

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The major challenges in geotechnical engineering in underground spaces arise from uncertainties and different probabilities. The collection, collation, and collaboration of existing data to incorporate them in analysis and design for given prospect evaluation would be a reliable, practical problem solving method under uncertainty. Machine learning (ML) is a subfield of artificial intelligence in statistical science which applies different techniques (e.g., Regression, neural networks, support vector machines, decision trees, random forests, genetic programming, etc.) on data to automatically learn and improve from them without being explicitly programmed and make decisions and predictions. In this paper, a conceptual database schema of geotechnical risks in underground coal mining based on a cloud system architecture has been designed. A new approach of risk assessment using a three-dimensional risk matrix supported by the level of knowledge (LoK) has been proposed in this model. Subsequently, the model workflow methodology stages have been described. In order to train data and LoK models deployment, an ML platform has been implemented. IBM Watson Studio, as a leading data science tool and data-driven cloud integration ML platform, is employed in this study. As a Use case, a data set of geotechnical hazards and risk assessment in underground coal mining were prepared to demonstrate the performance of the model, and accordingly, the results have been outlined.

Keywords: data model, geotechnical risks, machine learning, underground coal mining

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Authors: Johnstone Walubengo Wangusi

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Geotechnical engineering is a multidisciplinary field that encompasses the study of soil, rock, and groundwater properties and their interactions with civil engineering structures. This research paper provides an in-depth overview of geotechnical engineering, covering its fundamental principles, applications in civil infrastructure projects, and the challenges faced by practitioners in the field. Through a comprehensive examination of soil mechanics, foundation design, slope stability analysis, and geotechnical site investigation techniques, this paper aims to highlight the importance of geotechnical engineering in ensuring the safety, stability, and sustainability of infrastructure development. Additionally, it discusses emerging trends, innovative technologies, and future directions in geotechnical engineering research and practice.

Keywords: sustainable geotechnical engineering solutions, education and training for future generations geotechnical engineers, integration of geotechnical engineering and structural engineering, use of AI in geotechnical engineering modelling

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Authors: Saadoun Abd Errazak, Hafssaoui Abdallah, Fredj Mohamed

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Mining operations open induce risks of instability that can cause landslides and collapse at the bleachers slope. These risks may occur both during and after the operation phase. The magnitude of these risks depends on the mechanical and physical characteristics of the rock mass, the geometrical dimensions of ore bodies, their spatial arrangement, and the state of the operated area. If security and technology measures are not taken into account for this purpose, the environment will be affected. The main objective of this work is to assess these risks by analytical and numerical methods. The study is based on the geological, hydrogeological and geotechnical rock mass of the open pit quarry of Chouf Amar M'sila. The results obtained have allowed us to obtain an acceptable factor of safety and stability study of the open pit.

Keywords: stability, land sliding, numerical modeling, safety factor, open-pit quarry

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Authors: Mustafa Dogru, Ruveyda Komurlu

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Companies and professionals in the construction sector face various risks in every project depending on the characteristics, size, complexity, the location of the projects and the techniques used. Some risks’ effects may increase as the project progresses whereas new risks may emerge. Because of the ever-changing nature of the risks, risk management is a cyclical process that needs to be repeated throughout the project. Since the risks threaten the success of the project, risk management is an important part of the entire project management process. The aims of this study are to emphasize the importance of risk management in construction projects, summarize the risk identification process, and introduce a number of methods for preventing risks such as alternative design, checklists, prototyping and test-analysis-correction technique etc. Following the literature review conducted to list the techniques for preventing risks, case studies has been performed to compare and evaluate the success of the techniques in a number of completed projects with the same typology, performed domestic and international. Findings of the study suggest that controlling and minimizing the level of the risks in construction projects, taking optimal precautions for different risks, and mitigating or eliminating the effects of risks are important in order to prevent additional costs for the project. Additionally, focusing on the risks that have highest impact is the most rational way to minimize the effects of the risks on projects.

Keywords: construction projects, construction management, project management, risk management

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Authors: Ali Mortazavi

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The main objective of this research project is to delve into a multitude of geomechanical risks associated with various mining methods employed within the underground mining industry. Controlling geotechnical design parameters and operational factors affecting the selection of suitable mining techniques for a given underground mining condition will be considered from a risk assessment point of view. Important geomechanical challenges will be investigated as appropriate and relevant to the commonly used underground mining methods. Given the complicated nature of rock mass in-situ and complicated boundary conditions and operational complexities associated with various underground mining methods, the selection of a safe and economic mining operation is of paramount significance. Rock failure at varying scales within the underground mining openings is always a threat to mining operations and causes human and capital losses worldwide. Geotechnical design is a major design component of all underground mines and basically dominates the safety of an underground mine. With regard to uncertainties that exist in rock characterization prior to mine development, there are always risks associated with inappropriate design as a function of mining conditions and the selected mining method. Uncertainty often results from the inherent variability of rock masse, which in turn is a function of both geological materials and rock mass in-situ conditions. The focus of this research is on developing a methodology which enables a geomechanical risk assessment of given underground mining conditions. The outcome of this research is a geotechnical risk analysis algorithm, which can be used as an aid in selecting the appropriate mining method as a function of mine design parameters (e.g., rock in-situ properties, design method, governing boundary conditions such as in-situ stress and groundwater, etc.).

Keywords: geomechanical risk assessment, rock mechanics, underground mining, rock engineering

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Authors: Erdal Akyol, Mutlu Alkan

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Multi criteria decision analysis (MDCA) covers both data and experience. It is very common to solve the problems with many parameters and uncertainties. GIS supported solutions improve and speed up the decision process. Weighted grading as a MDCA method is employed for solving the geotechnical problems. In this study, geotechnical parameters namely soil type; SPT (N) blow number, shear wave velocity (Vs) and depth of underground water level (DUWL) have been engaged in MDCA and GIS. In terms of geotechnical aspects, the settlement suitability of the municipal area was analyzed by the method. MDCA results were compatible with the geotechnical observations and experience. The method can be employed in geotechnical oriented microzoning studies if the criteria are well evaluated.

Keywords: GIS, spatial analysis, multi criteria decision analysis, geotechnics

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Authors: Mershack O. Tetteh, Albert P. C. Chan, Amos Darko, Gabriel Nani

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International construction joint ventures (ICJVs) have evolved as an effective approach to sustainable development, given their myriad socio-economic and environmental benefits. Yet, they are not free of barriers and risks. In many studies, it is termed as risks for convenience’s sake. While the barriers and risks continue to affect the success of ICJVs, a systematic and reliable approach for managing them has yet to be developed. This study aims to identify and classify the barriers and risks factors affecting ICJVs through a systematic literature review. Based on a critical review of 54 papers published in peer-reviewed journals from 1990 to 2019, a conceptual framework was proposed for managing the barriers and risks in ICJV operations. The review showed that the barriers can be grouped into six including inter-organizational differences, lack of expertise and confidence, lack of effective planning and strategies, lack of knowledge of ICJV’s fundamentals, conflicts among ICJV entities, and management difficulties. The risks were also categorized into six: policy and political risks, legal risks, financial risks, management risks, project and technical risks, and market risks. The developed model would help practitioners achieve more efficient resource allocation and bring new perspectives for managerial practices in ICJVs. Moreover, it is positioned to alleviate the negligence of previous studies that combined the barriers and risks factors as one checklist.

Keywords: barriers, construction, international construction joint venture, risks, sustainable development

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Authors: Chien-Chih Lin

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This study argues that the optimal diversifications for the maximization of bank value are asymmetrical; they depend on the business cycle. During times of expansion, systematic risks are relatively low, and hence there is only a slight effect from raising them with a diversified portfolio. Consequently, the benefit of reducing individual risks dominates any loss from raising systematic risks, leading to a higher value for a bank by holding a diversified portfolio of assets. On the contrary, in times of recession, systematic risks are relatively high. It is more likely that the loss from raising systematic risks surpasses the benefit of reducing individual risks from portfolio diversification. Consequently, more diversification leads to lower bank values. Finally, some empirical evidence from the banks in Taiwan is provided.

Keywords: diversification, default probability, systemic risk, banking, business cycle

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Authors: Shan Li, Qiuwen Ma

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Integrated project delivery (IPD) is a project delivery method distinguished by a shared risk/rewards mechanism and multiparty agreement. IPD has drawn increasing attention from construction industry due to its reliability to deliver high-performing buildings. However, unavailable IPD specific insurance concerns the industry participants who are interested in IPD implementation. Even though the risk management capability can be enhanced using shared risk mechanism, some risks may occur when the partners do not commit themselves into the integrated practices in a desired manner. This is because the intense collaboration and close integration can not only create added value but bring new opportunistic behaviors and disputes. The study is aimed to investigate the risks of implementing IPD using Bayesian theory. IPD risk taxonomy is presented to identify all potential risks of implementing IPD and a risk network map is developed to capture the interdependencies between IPD risks. The conditional relations between risk occurrences and the impacts of IPD risks on project performances are evaluated and simulated based on Bayesian theory. The probability of project outcomes is predicted by simulation. In addition, it is found that some risks caused by integration are most possible occurred risks. This study can help the IPD project participants identify critical risks of adopting IPD to improve project performances. In addition, it is helpful to develop IPD specific insurance when the pertinent risks can be identified.

Keywords: Bayesian theory, integrated project delivery, project risks, project performances

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Authors: Bassey Odiong Akan

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In recent decades potentially significant changes have taken place in the world of work and these have led to the emergence of new challenges in occupational safety and health. The working environment is now not only wroth with concerns about physical, biological and chemical risks but also emerging risks which are completely new risks that have never been seen before or previously known risks that are evolving in unexpected ways with unanticipated consequences. Psychosocial risk factors and its attendant hazards happen to be one of them and can impact health directly or indirectly, mediated by work-related stress. These risks are related to the way work is designed, organised and managed, as well as the economic and social contexts of work. It has become necessary to identify, explore and anticipate the dynamics of these risks factors and hazards with regards to how it affects women. This presentation is a review of information gathered from books of distinguished authors, research work and scientific/professional journals on the psychosocial work environment intended as a guide to stimulate discussion, raise awareness and encourage research and action at different levels.

Keywords: emerging risks, psychosocial hazards, psychosocial risk factors, work related stress

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Authors: Jasman Tuyon, Zamri Ahmad

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Behavioral asset pricing research has been gaining momentum since in 1990s. However, it is still incomplete and has been criticized for some philosophical, theoretical and model specification limitations. Due to these drawbacks, investors’ behaviors as a source of risk in behavioral asset pricing modeling still remains disputable. This paper aims to address these issues with an alternative perspective based on behavioral finance paradigm. Specifically, this paper proposes a theoretical linkages of both fundamental and behavioral risks on stock prices formation and an extension of the multifactor stock pricing model by combining multi-factor fundamentals and behavioral risks factors.

Keywords: behavioral finance, multifactor asset pricing, behavioral risks, fundamental risks

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Authors: Ibraheem A. K. Mahameed

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The aim of this study is to identify the risks affecting time performance of building construction projects in the West Bank in Palestine from contractors’ viewpoint. 38 risks that might affect time performance of building construction projects were defined through a detailed literature review. These risks have been classified into 6 groups: project, managerial, consultant, financial, external, and construction items. A questionnaire survey was performed to rank the considered risks in terms of severity and frequency. The analysis of the survey indicated that the top five risks affecting time performance of building construction projects in Palestine are: award project to the lowest price, political situation, poor communication and coordination between construction parties, change orders, and financial status of contractor.

Keywords: delay, time performance, construction, building

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Authors: Q. J. Yang

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This paper presents a case study of geotechnical design of bridge foundations and approaches in hilly granite formation in northern New South Wales of Australia. Firstly, the geological formation and existing cut slope conditions which have high risks of rock fall will be described. The bridge has three spans to be constructed using balanced cantilever method with a middle span of 150 m. After concept design option engineering, it was decided to change from pile foundation to pad footing with ground anchor system to optimize the bridge foundation design. The geotechnical design parameters were derived after two staged site investigations. The foundation design was carried out to satisfy both serviceability limit state and ultimate limit state during construction and in operation. It was found that the pad footing design was governed by serviceability limit state design loading cases. The design of bridge foundation also considered presence of weak rock layer intrusion and a layer of “no core” to ensure foundation stability. The precast mass concrete block system was considered for the retaining walls for the bridge approaches to resolve the constructability issue over hilly terrain. The design considered the retaining wall block sliding stability, while the overturning and internal stabilities are satisfied.

Keywords: pad footing, Hilly formation, stability, block works

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Authors: Lee Li

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The strategic management literature posits that the major motive of strategic alliances is to share resources, costs and risks. However, the literature also indicates that such sharing leads to transaction costs which are positively correlated with environmental dynamism. As such, it is not clear why firms are willing to cover high transaction costs for sharing resources, costs and risks. This study categorizes resources into firm-specific and general resource; costs into accounting and non-accounting cost; and risks into visible and invisible risks. Using data from 167 Canadian firms in technology industries, we find that sharing firm-specific resources and non-accounting costs are negatively correlated with environmental dynamism but sharing general resources, accounting costs and visible risks are positively correlated with environmental dynamism. Findings suggest that sharing certain resources, costs and risks do not necessarily incur high transaction costs.

Keywords: environmental dynamism, strategic alliances, resource/cost/risk sharing

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Authors: Ali Mohaghar, Iman Ghasemian Sahebi, Alireza Arab

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In the last decades, increasing in human and natural disaster occurrence had very irreparable effects on human life. Hence, one of the important issues in humanitarian supply chain management is identifying and prioritizing the different risks and finding suitable solutions for encountering them at the time of disaster occurrence. This study is an attempt to provide a comprehensive review of humanitarian supply chain risks in a case study of Tehran Red Crescent Societies. For this purpose, Best-Worst method (BWM) has been used for analyzing the risks of the humanitarian supply chain. 22 risks of the humanitarian supply chain were identified based on the literature and interviews with four experts. According to BWM method, the importance of each risk was calculated. The findings showed that culture contexts, little awareness of people, and poor education system are the most important humanitarian supply chain risks. This research provides a useful guideline for managers so that they can benefit from the results to prioritize their solutions.

Keywords: Best-Worst Method, humanitarian logistics, humanitarian supply chain, risk management

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Authors: Y. Yongli, M. H. Aissa

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The purpose of this paper aims for a geotechnical analysis based on experimental physical and mechanical characteristics of Miocene marl situated at Medea region in Algeria. More than 150 soil samples were taken in the investigation part of the North-South Highway which extends over than 53 km from Chiffa in the North to Berrouaghia in the South of Algeria. The analysis of data in terms of Atterberg limits, plasticity index, and clay content reflects an acceptable correlation justified by a high coefficient of regression which was compared with the previous works in the region. Finally, approximated equations that serve as a guideline for geotechnical design locally have been suggested.

Keywords: correlation, geotechnical properties, miocene marl, north-south highway

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Authors: Wesam Hamed

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This paper contributes to the existing literature by investigating the impact of political risks on the capital adequacy ratio in the banking sector of Gulf Cooperation Council (GCC) countries, which is the first attempt for this nexus to the best of our knowledge. The dynamic panel data model (System‐GMM) showed that political risks significantly decrease the capital adequacy ratio in the banking sector. For this purpose, we used political risks, bank-specific, profitability, and macroeconomic variables that are utilized from the data stream database for the period 2005-2017. The results also actively support the “too big to fail” hypothesis. Finally, the robustness results confirm the conclusions derived from the baseline System‐GMM model.

Keywords: capital adequacy ratio, system GMM, GCC, political risks

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Authors: Raphaël Weuts, Mykyta Petik, Anton Vedder

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Artificial Intelligence has the potential to create and already creates enormous value in healthcare. Prescriptive systems might be able to make the use of healthcare capacity more efficient. Such systems might entail interpretations that exclude the effect of confounders that brings risks with it. Those risks might be mitigated by regulation that prevents systems entailing such risks to come to market. One modality of regulation is that of legislation, and the European AI Act is an example of such a regulatory instrument that might mitigate these risks. To assess the risk mitigation potential of the AI Act for those risks, this research focusses on a case study of a hypothetical application of medical device software that entails the aforementioned risks. The AI Act refers to the harmonised norms for already existing legislation, here being the European medical device regulation. The issue at hand is a causal link between a confounder and the value the algorithm optimises for by proxy. The research identifies where the AI Act already looks at confounders (i.a. feedback loops in systems that continue to learn after being placed on the market). The research identifies where the current proposal by parliament leaves legal uncertainty on the necessity to check for confounders that do not influence the input of the system, when the system does not continue to learn after being placed on the market. The authors propose an amendment to article 15 of the AI Act that would require high-risk systems to be developed in such a way as to mitigate risks from those aforementioned confounders.

Keywords: AI Act, healthcare, confounders, risks

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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

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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: Kevin Wongleedee

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Food quality and risks are major concerns for inbound senior tourists when visiting tourist destinations in Thailand. The purposes of this study were to investigate food quality and risks perceived by inbound senior tourists. This paper drew upon data collection from an inbound senior tourist survey conducted in Thailand during summer 2013. Summer time in Thailand is a high season for inbound tourists. It is also a high risk period in which a variety food safety issues and incidents have often occurred. The survey was structured primarily to obtain inbound senior tourists’ concerns toward a variety of food quality and risks they encountered during their trip in Thailand. A total of 400 inbound senior tourists were elicited as data input for mean and standard deviation. The findings revealed that inbound tourists rated the overall food quality at a high level and the three most important perceived food risks were 1) unclean physical cooking facility, 2) toxic chemical handling, and 3) unclean water.

Keywords: food quality, inbound senior tourists, risks, Thailand

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Authors: Ahmad Baghdadi, Mohammed Kishk

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Construction projects are unique and involve different level of complexity. Airports projects, among other construction projects, are considered to be very complex as they face a number of challenges which make them inevitably exposed to risks. However, in Saudi Arabia, the sector of aviation is considered an important sector owing to the fact that it is the first destination for Muslims on an annual basis. As a result the Saudi government has allocated a huge amount of their general budget to this sector through the General Authority of Civil Aviation (GACA). However, it has been found that the projects are still delivered with a significant number of time and cost overruns. These consequences are typically generated from the risks involved in the projects. Thus, there is a need to identify the number of risks thought to cause such overruns in project times and costs, as well as to assess their significances in terms of their likelihoods of occurrence and their impacts. Accordingly, this paper aims to identify risks associated with aviation construction projects in Saudi Arabia, as well as to assess their likelihoods of occurrence and impacts on such projects. In total, forty four risks have been identified through a critical literature review of common risks in similar projects, as well as thirteen semi-structured interviews with expert project managers involved in GACA’s projects. However, the assessment of the identified risks in term of their likelihoods of occurrence and impacts was obtained through the analysis of forty five questionnaires. Respondents of questionnaires include clients, contractors and consultants. The results show the risks of design changes by the client, labour issue, and setting a tight schedule by the client have the highest likelihoods of occurrence in GACA projects, while the risks of earthquakes, design constructability, and corruption have the greatest impacts.

Keywords: aviation construction projects, GACA, risks, risk assessment, Saudi Arabia

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Authors: Yahya N. Alfraidi, Abdel Halim Boussabaine

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Climate change risk impacts are one of the most challenging aspects that faces the built environment now and the near future. The impacts of climate change on buildings are considered in four different dimensions: physical, economic, social, and management. For each of these, the risks are discussed as they arise from various effects linked to climate change, including windstorms, precipitation, temperature change, flooding, and sea-level rise. For example, building assets in cities will be exposed to extreme hot summer days and nights due to the urban heat island effect and pollution. Buildings also could be vulnerable to water, electricity, gas, etc., scarcity. Building materials, fabric and systems could also be stressed by the emerging climate risks. More impotently the building users might experience extreme internal and extern comfort conditions leading to lower productivity, wellbeing and health problems. Thus, the main aim of this paper to document the emerging risks from climate change on building assets. An in-depth discussion on the consequences of these climate change risk is provided. It is expected that the outcome of this research will be a set of risk design indicators for developing and procuring resilient building assets.

Keywords: climate change, risks of climate change, risks on building from climate change, buildings

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Authors: Farnaz Farzadnia, Ahmad Alibabaei

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Enterprise Resource Planning (ERP) systems are considered as complicated information systems. Many organizations failed implementing ERP systems because it is a very difficult, time-consuming and expensive process. Enterprise resource planning system is appropriate for organizations in all economic sectors. As banking is currently considered a non-typical area for ERP usage, there are very little studies on ERP implementation in banking. This paper presents a general risks taxonomy. In this research, after identifying implementation risks, a process quality management method has been applied to identify relations between risks of implementation ERP in banking sectors and implementation phases. Oracle application implementation method titled as AIM used in this research for classifying the risks. These findings will help managers to develop better strategies for supervising and controlling ERP implementation projects.

Keywords: AIM implementation, bank, enterprise resource planning, risk, process quality management method

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Authors: Adewoyin O. Olusegun, Akinwumi I. Isaac

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In some part of the world where legislations related to site investigations before constructions are not strictly enforced, the expenses and time required for carrying out a comprehensive geotechnical investigation to characterize a site can discourage prospective private residential building developers. Another factor that can discourage a developer is the fact that most of the geotechnical tests procedures utilized during site investigations, to a certain extent, alter the existing environment of the site. This study suggests a quick, non-destructive and non-intrusive method of obtaining key subsoil geotechnical properties necessary for foundation design for proposed engineering facilities. Seismic wave velocities generated from near surface refraction method was used to determine the bulk density of soil, Young’s modulus, bulk modulus, shear modulus and allowable bearing capacity of a competent layer that can bear structural load at the particular study site. Also, regression equations were developed in order to directly obtain the bulk density of soil, Young’s modulus, bulk modulus, shear modulus and allowable bearing capacity from the compressional wave velocities. The results obtained correlated with the results of standard geotechnical investigations carried out.

Keywords: characterize, environment, geophysical, geotechnical, regression

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Authors: K. P. Fasalu Rahman

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

Keywords: Islamic banking, management, risk, risk management

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Authors: Isah Yahaya Aliyu

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Research on Internet use has often approached beneficial uses (online opportunities) of the Internet as separate from the risky encounters (online risks) of young people online. However, empirical evidence from diverse contexts appears to increasingly support the fusion of the two sets of online activities. Hence, the current research investigates the correlation between Internet use (IU) and digital literacy (DL) with online opportunities (OP) and risks (OR), using data from a Nigerian context, where there appears a paucity of research and literature on integrating opportunities and risks in the same study. A web-based data collection method was used to administer a survey to 335 undergraduate students in Northeastern Nigeria. Underpinned to Livingstone and Helsper model, findings are largely consistent with existing literature; IU and DL influence OP (R2 = 0.791, SE = 0.265, F-Stats = 626.566, P-value <.001), equally IU and DL influence OR as well (R2 = 0.343, SE = 0.465, F-Stats = 86.671, P-value <.001). OP and OR were found to strongly correlate positively (r = .667, n = 335, p < 0.01). This study has provided buttressing evidence from a Nigerian context of the fusion of benefits and risks of the Internet among young people. It has also upheld the argument for improved literacy as strategy for minimizing risks/harm rather than restricting use. Other theoretical and policy implications of the findings have been discussed in line with local and global debates about the Internet and its attendant effects.

Keywords: digital, internet, literacy, opportunities, risks

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Authors: Mohamed Saad Ahmed Hussien

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This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.

Keywords: conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management

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Authors: K. Ivandic, F. Dodigovic, D. Stuhec, S. Strelec

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A characteristic value of certain geotechnical parameter results from an engineering assessment. Its selection has to be based on technical principles and standards of engineering practice. It has been shown that the results of engineering assessment of different authors for the same problem and input data are significantly dispersed. A survey was conducted in which participants had to estimate the force that causes a 10 cm displacement at the top of a axially in-situ compressed pile. Fifty experts from all over the world took part in it. The lowest estimated force value was 42% and the highest was 133% of measured force resulting from a mentioned static pile load test. These extreme values result in significantly different technical solutions to the same engineering task. In case of selecting a characteristic value of a geotechnical parameter the importance of the influence of an engineering assessment can be reduced by using statistical methods. An informative annex of Eurocode 1 prescribes the method of selecting the characteristic values of material properties. This is followed by Eurocode 7 with certain specificities linked to selecting characteristic values of geotechnical parameters. The paper shows the procedure of selecting characteristic values of a geotechnical parameter by using a statistical method with different initial conditions. The aim of the paper is to quantify an engineering assessment in the example of determining a characteristic value of a specific geotechnical parameter. It is assumed that this assessment is a random variable and that its statistical features will be determined. For this purpose, a survey research was conducted among relevant experts from the field of geotechnical engineering. Conclusively, the results of the survey and the application of statistical method were compared.

Keywords: characteristic values, engineering judgement, Eurocode 7, statistical methods

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