Search results for: risks
188 Supply Chain Risk Management (SCRM): A Simplified Alternative for Implementing SCRM for Small and Medium Enterprises
Authors: Paul W. Murray, Marco Barajas
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Recent changes in supply chains, especially globalization and collaboration, have created new risks for enterprises of all sizes. A variety of complex frameworks, often based on enterprise risk management strategies have been presented under the heading of Supply Chain Risk Management (SCRM). The literature on promotes the benefits of a robust SCRM strategy; however, implementing SCRM is difficult and resource demanding for Large Enterprises (LEs), and essentially out of reach for Small & Medium Enterprises (SMEs). This research debunks the idea that SCRM is necessary for all enterprises and instead proposes a simple and effective Vendor Selection Template (VST). Empirical testing and a survey of supply chain practitioners provide a measure of validation to the VST. The resulting VSTis a valuable contribution because is easy to use, provides practical results, and is sufficiently flexible to be universally applied to SMEs.
Keywords: Multiple Regression Analysis, Supply Chain Management, Risk Assessment, Vendor Selection.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2843187 The Innovative Information System for Systemic Approach of the Sustainability in the Enterprise
Authors: M. Izvercianu, L. Ivascu
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This paper presents an innovative computer system that contributes to sustainable development of the enterprise. The research refers to a rethinking of traditional systems of collaboration and risk assessment, present in any organization, leading to a sustainable enterprise. This concept integrates emerging tools that allow the implementation and exploitation of the collective intelligence of the enterprise, allowing the exchange of contextual, agile and simplified information, and collaboration with networks of customers and partners in an environment where risks are controlled. Risk assessment is done in a systemic way: the enterprise as the system compared to the contained departments and the enterprise as a subsystem compared to: families of international standards and sustainability-s responsibilities. The enterprise, in this systemic vision, responds to the requirements that any existing system to operate continuously in an indefinite future without reaching key resource depletion. The research is done by integrating collaborative science, engineering, management, psychology, obtaining thus a cornerstone of sustainable development of the enterprise.Keywords: Enterprise 2.0, ISO, Risk management, Sustainable development
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1700186 South African MNEs Entry Strategies in Africa
Authors: N.M. Museisi
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This is a cross-cultural study that determines South African multinational enterprises (MNEs) entry strategies as they invest in Africa. An integrated theoretical framework comprising the transaction cost theory, Uppsala model, eclectic paradigm and the distance framework was adopted. A sample of 40 South African MNEs with 415 existing FDI entries in Africa was drawn. Using an ordered logistic regression model, the impact of culture on the choice of degree of control by South African MNEs in Africa was determined. Cultural distance was one of significant factors that influenced South African MNEs- choice of degree of control. Furthermore, South African MNEs are risk averse in all countries in Africa but minimize the risks differently across sectors. Service sectors chooses to own their subsidiaries 100% and avoid dealing with the locals while manufacturing, resources and construction choose to have a local partner to share the risk.Keywords: Cross-cultural, emerging MNEs, entry strategies, internationalization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3765185 Understanding and Enhancing Ecotourism Opportunities through Education
Authors: V. Iakovoglou, G. N. Zaimes, M. P. Arraiza Bermúdez-Cañete, J. L. García, M. C. Giménez, C. Calderón- Guerrero, F. Ioras, I. Abrudan
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A new fast growing trend in tourism is ecotourism, in which tourists visit natural ecosystems under low impact, nonconsumptive and locally oriented activities. Through these activities species and habitats are maintained and typically, underdeveloped regions are emphasized. Ecotourism provides a great alternative, especially for rural and undeveloped area. At the same time, despite its many benefits, it also poses many risks for the naturally protected areas. If ecotourism is practiced improperly degradation and irreversible damages could be the unwanted result. In addition, the lack of MSc programs in the field of Ecotourism in Europe makes it a necessity to be developed. Such an MSc program is being implemented with the lead partner the Technical University of Madrid. The entire partnership has six Universities, seven SMEs and one National Park from seven different countries all over Europe. The MSc will have 10 educational modules that will be available online and will prepare professionals that will be able to implement ecotourism in a sustainable way. Only through awareness and education a sustainable ecotourism will be achieved in the protected areas of Europe.Keywords: Sustainability, MSc program, protected areas, Erasmus.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1874184 Dynamics Simulation Approach in Analyzing Pension Expenditure
Authors: Hasimah Sapiri, Anton Abdulbasah Kamil, Razman Mat Tahar, Hanafi Tumin
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Salary risk and demographic risk have been identified as main risks in analyzing pension expenditure particularly in Defined Benefit pension plan. Therefore, public pension plan in Malaysia is studied to analyze pension expenditure due to salary and demographic risk. Through the literature review and interview session with several officers in public sector, factors affecting pension expenditure are determined. Then, the inter-relationships between these factors are analyzed through causal loop diagram. The System Dynamics model is later developed using iThink software to show how demographic and salary changes affect the pension expenditure. Then, by using actual data, the impact of different policy scenarios on pension expenditure is analyzed. It is shown that dynamics simulation model of pension expenditure is useful to evaluate the impact of changes and policy decisions on risk particularly involving demographic and salary risk.Keywords: Demographic and Salary risk, Pension Expenditure, Public Policy, System Dynamics.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2713183 An Agent Oriented Architecture to Supply Dynamic Document Generation in ERP Systems
Authors: Hassan Haghighi, Seyedeh Zahra Hosseini, Seyedeh Elahe Jalambadani
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One of the most important aspects expected from an ERP system is to mange user\administrator manual documents dynamically. Since an ERP package is frequently changed during its implementation in customer sites, it is often needed to add new documents and/or apply required changes to existing documents in order to cover new or changed capabilities. The worse is that since these changes occur continuously, the corresponding documents should be updated dynamically; otherwise, implementing the ERP package in the organization encounters serious risks. In this paper, we propose a new architecture which is based on the agent oriented vision and supplies the dynamic document generation expected from ERP systems using several independent but cooperative agents. Beside the dynamic document generation which is the main issue of this paper, the presented architecture will address some aspects of intelligence and learning capabilities existing in ERP.Keywords: enterprise resource planning, dynamic documentgeneration, software architecture, agent oriented architecture, learning, intelligence
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1657182 Concept for a Multidisciplinary Design Process–An Application on High Lift Systems
Authors: P. Zamov, H. Spangenberg
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Presents a concept for a multidisciplinary process supporting effective task transitions between different technical domains during the architectural design stage. A system configuration challenge is the multifunctional driven increased solution space. As a consequence, more iteration is needed to find a global optimum, i.e. a compromise between involved disciplines without negative impact on development time. Since state of the art standards like ISO 15288 and VDI 2206 do not provide a detailed methodology on multidisciplinary design process, higher uncertainties regarding final specifications arise. This leads to the need of more detailed and standardized concepts or processes which could mitigate risks. The performed work is based on analysis of multidisciplinary interaction, of modeling and simulation techniques. To demonstrate and prove the applicability of the presented concept, it is applied to the design of aircraft high lift systems, in the context of the engineering disciplines kinematics, actuation, monitoring, installation and structure design.Keywords: Systems engineering, multidisciplinary, architectural design, high lift system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2305181 ‘Saying’ the Nuclear Power in France: Evolution of the Images and Perceptions of a Sensitive Theme
Authors: Jandot Aurélia
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As the nuclear power is a sensitive field leading to controversy, the quality of the communication about it is important. Between 1965 and 1981, in France, this one had gradually changed. This change is studied here in the main French news magazine L’Express, in connection with several parameters. As this represents a huge number of copies and occurrences, thus a considerable amount of information; this paper is focused on the main articles as well as the main “mental images”. These ones are important, as their aim is to direct the thought of the readers, and as they have led the public awareness to evolve. Over this 17 years, two trends are in confrontation: The first one is promoting the perception of the nuclear power, while the second one is discrediting it. These trends are organized in two axes: the evolution of engineering, and the risks. In both cases, the changes in the language allow discerning the deepest intentions of the magazine editing, over a period when the nuclear technology, to there a laboratory object accompanied with mystery and secret, has become a social issue seemingly open to all.
Keywords: French news magazine, mental images, nuclear power, public awareness.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1250180 Dose due the Incorporation of Radionuclides Using Teeth as Bioindicators nearby Caetité Uranium Mines
Authors: Viviane S. Guimarães, Ícaro M. M. Brasil, Simara S. Campos, Roseli F. Gennari, Márcia R. P. Attie, Susana O. Souza.
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Uranium mining and processing in Brazil occur in a northeastern area near to Caetité-BA. Several Non-Governmental Organizations claim that uranium mining in this region is a pollutant causing health risks to the local population,but those in charge of the complex extraction and production of“yellow cake" for generating fuel to the nuclear power plants reject these allegations. This study aimed at identifying potential problems caused by mining to the population of Caetité. In this, work,the concentrations of 238U, 232Th and 40K radioisotopes in the teeth of the Caetité population were determined by ICP-MS. Teeth are used as bioindicators of incorporated radionuclides. Cumulative radiation doses in the skeleton were also determined. The concentration values were below 0.008 ppm, and annual effective dose due to radioisotopes are below to the reference values. Therefore, it is not possible to state that the mining process in Caetité increases pollution or radiation exposure in a meaningful way.Keywords: bioindicators, radiation dose, radioisotopesincorporation, uranium.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4115179 Measurement Tools of the Maturity Model for IT Service Outsourcing in Higher Education Institutions
Authors: Victoriano Valencia García, Luis Usero Aragonés, Eugenio J. Fernández Vicente
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Nowadays, the successful implementation of ICTs is vital for almost any kind of organization. Good governance and ICT management are essential for delivering value, managing technological risks, managing resources and performance measurement. In addition, outsourcing is a strategic IT service solution which complements IT services provided internally in organizations. This paper proposes the measurement tools of a new holistic maturity model based on standards ISO/IEC 20000 and ISO/IEC 38500, and the frameworks and best practices of ITIL and COBIT, with a specific focus on IT outsourcing. These measurement tools allow independent validation and practical application in the field of higher education, using a questionnaire, metrics tables, and continuous improvement plan tables as part of the measurement process. Guidelines and standards are proposed in the model for facilitating adaptation to universities and achieving excellence in the outsourcing of IT services.
Keywords: IT Governance, IT Management, IT Services, Maturity Model, Measurement Tools, Outsourcing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2790178 Risk Assessment of Selected Source for Emergency Water Supply Case Study II
Authors: Frantisek Bozek, Alexandr Bozek, Eduard Bakos, Jiri Dvorak, Alena Bumbova, Lenka Jesonkova
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The case study deals with the semi-quantitative risk assessment of water resource earmarked for the emergency supply of population with drinking water. The risk analysis has been based on previously identified hazards/sensitivities of the elements of hydrogeological structure and technological equipment of ground water resource as well as on the assessment of the levels of hazard, sensitivity and criticality of individual resource elements in the form of point indexes. The following potential sources of hazard have been considered: natural disasters caused by atmospheric and geological changes, technological hazards, and environmental burdens. The risk analysis has proved that the assessed risks are acceptable and the water resource may be integrated into a crisis plan of a given region.
Keywords: Crisis, emergency, frequency, ground water, hazard, point index, risk, sensitivity, water supply.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1937177 Decision Support for the Selection of Electric Power Plants Generated from Renewable Sources
Authors: Aumnad Phdungsilp, Teeradej Wuttipornpun
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Decision support based upon risk analysis into comparison of the electricity generation from different renewable energy technologies can provide information about their effects on the environment and society. The aim of this paper is to develop the assessment framework regarding risks to health and environment, and the society-s benefits of the electric power plant generation from different renewable sources. The multicriteria framework to multiattribute risk analysis technique and the decision analysis interview technique are applied in order to support the decisionmaking process for the implementing renewable energy projects to the Bangkok case study. Having analyses the local conditions and appropriate technologies, five renewable power plants are postulated as options. As this work demonstrates, the analysis can provide a tool to aid decision-makers for achieving targets related to promote sustainable energy system.Keywords: Analytic Hierarchy Process, Bangkok, MultiattributeRisk Analysis, Renewable Energy Technology.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1949176 Assessment of Vulnerability and Risk of Taijiang Coastal Areas to Climatic Changes
Authors: Yu-Chen Lin, Tzong-Yeang Lee
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This study aims to assess the vulnerability and risk of the coastal areas of Taijiang to abnormal oceanographic phenomena. In addition, this study aims to investigate and collect data regarding the disaster losses, land utilization, and other social, economic, and environmental issues in these coastal areas to construct a coastal vulnerability and risk map based on the obtained climate-change risk assessment results. Considering the indexes of the three coastal vulnerability dimensions, namely, man-made facilities, environmental geography, and social economy, this study adopted the equal weighting process and Analytic Hierarchy Process to analyze the vulnerability of these coastal areas to disasters caused by climatic changes. Among the areas with high coastal vulnerability to climatic changes, three towns had the highest coastal vulnerability and four had the highest relative vulnerability. Areas with lower disaster risks were found to be increasingly vulnerable to disasters caused by climatic changes as time progresses.Keywords: Climate change, coastal disaster, risk, vulnerability
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1803175 Improving Cyber Resilience in Mobile Field Hospitals: Towards an Assessment Model
Authors: Nasir Baba Ahmed, Nicolas Daclin, Marc Olivaux, Gilles Dusserre
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The Mobile field hospital is critical in terms of managing emergencies in crisis. It is a sub-section of the main hospitals and the health sector, tasked with delivering responsive, immediate, and efficient medical services during a crisis. With the aim to prevent further crisis, the assessment of the cyber assets follows different methods, to distinguish its strengths and weaknesses, and in turn achieve cyber resiliency. The work focuses on assessments of cyber resilience in field hospitals with trends growing in both the field hospital and the health sector in general. This creates opportunities for the adverse attackers and the response improvement objectives for attaining cyber resilience, as the assessments allow users and stakeholders to know the level of risks with regards to its cyber assets. Thus, the purpose is to show the possible threat vectors which open up opportunities, with contrast to current trends in the assessment of the mobile field hospitals’ cyber assets.
Keywords: Assessment framework, cyber resilience, cyber security, Mobile Field Hospital.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 692174 Quantitative Indicator of Abdominal Aortic Aneurysm Rupture Risk Based on its Geometric Parameters
Authors: Guillermo Vilalta, Félix Nieto, Carlos Vaquero, José A. Vilalta
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Abdominal aortic aneurysms rupture (AAAs) is one of the main causes of death in the world. This is a very complex phenomenon that usually occurs “without previous warning". Currently, criteria to assess the aneurysm rupture risk (peak diameter and growth rate) can not be considered as reliable indicators. In a first approach, the main geometric parameters of aneurysms have been linked into five biomechanical factors. These are combined to obtain a dimensionless rupture risk index, RI(t), which has been validated preliminarily with a clinical case and others from literature. This quantitative indicator is easy to understand, it allows estimating the aneurysms rupture risks and it is expected to be able to identify the one in aneurysm whose peak diameter is less than the threshold value. Based on initial results, a broader study has begun with twelve patients from the Clinic Hospital of Valladolid-Spain, which are submitted to periodic follow-up examinations.
Keywords: AAA, rupture risk prediction, biomechanical factors, AAA geometric characterization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1533173 Text Mining Analysis of the Reconstruction Plans after the Great East Japan Earthquake
Authors: Minami Ito, Akihiro Iijima
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On March 11, 2011, the Great East Japan Earthquake occurred off the coast of Sanriku, Japan. It is important to build a sustainable society through the reconstruction process rather than simply restoring the infrastructure. To compare the goals of reconstruction plans of quake-stricken municipalities, Japanese language morphological analysis was performed by using text mining techniques. Frequently-used nouns were sorted into four main categories of “life”, “disaster prevention”, “economy”, and “harmony with environment”. Because Soma City is affected by nuclear accident, sentences tagged to “harmony with environment” tended to be frequent compared to the other municipalities. Results from cluster analysis and principle component analysis clearly indicated that the local government reinforces the efforts to reduce risks from radiation exposure as a top priority.
Keywords: Eco-friendly reconstruction, harmony with environment, decontamination, nuclear disaster.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1967172 The Impact of Product Package Information on Consumer Behavior toward Genetically Modified Foods
Authors: Yu-Syuan Chang, Li-Chun Huang
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Genetically modified (GM) technology in food production continued to generate controversies. Consumers were concerned with the GM foods about the healthy and environmental risks. While consumers- acceptance was a critical factor affecting how widely this technology be used. According to the research review, consumers- lack of information was one of the reasons to explain consumers- low acceptance toward GM foods. The objective for this study wanted to find out would informative product package affect consumers- behavior toward GM foods. An experiment was designed to investigate consumer behavior toward different product package information. The results indicated that the product package information influenced consumer product trust toward GM foods. Compared with the traceability production system information, the information about the GM rice was approved by authorized organizations could increase consumers product trust in GM foods. Consumers in Taiwan saw the information provided by authorized organizations more credible than other information.Keywords: product package information, genetically modifiedfood, consumer product trust, risk perception, benefit perception.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2558171 Effect of Consumer Demographic Factors on Purchasing Herbal Products Online in Malaysia
Authors: G. Rezai, Z. Mohamed, M. N. Shamsudin, M. Z. Zahran
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The availability of broadband internet and increased access to computers has been instrumental in the rise of internet literacy in Malaysia. This development has led to the adoption of online shopping by many Malaysians. On another note, the Government has supported the development and production of local herbal products. This has resulted in an increase in the production and diversity of products by SMEs. The purpose of this study is to evaluate the influence of the Malaysian demographic factors and selected attitudinal characteristics in relation to the online purchasing of herbal products. In total, 1054 internet users were interviewed online and Chi-square analysis was used to determine the relationship between demographic variables and different aspects of online shopping for herbal products. The overall results show that the demographic variables such as age, gender, education level, income and ethnicity were significant when considering the online shopping antecedents of trust, quality of herbal products, perceived risks and perceived benefits.
Keywords: Demographic factors, herbal products, Malaysian consumers, online shopping, Chi-square analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4291170 Application of Process Approach to Evaluate the Information Security Risk and its Implementation in an Iranian Private Bank
Authors: Isa Nakhai Kamal Abadi, Esmaeel Saberi, Ehsan Mirjafari
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Every organization is continually subject to new damages and threats which can be resulted from their operations or their goal accomplishment. Methods of providing the security of space and applied tools have been widely changed with increasing application and development of information technology (IT). From this viewpoint, information security management systems were evolved to construct and prevent reiterating the experienced methods. In general, the correct response in information security management systems requires correct decision making, which in turn requires the comprehensive effort of managers and everyone involved in each plan or decision making. Obviously, all aspects of work or decision are not defined in all decision making conditions; therefore, the possible or certain risks should be considered when making decisions. This is the subject of risk management and it can influence the decisions. Investigation of different approaches in the field of risk management demonstrates their progress from quantitative to qualitative methods with a process approach.
Keywords: Risk Management, Information Security, Methodology, Probability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1531169 A Fuzzy Swarm Optimized Approach for Piece Selection in Bit Torrent Like Peer to Peer Network
Authors: M. Padmavathi, R. M. Suresh
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Every machine plays roles of client and server simultaneously in a peer-to-peer (P2P) network. Though a P2P network has many advantages over traditional client-server models regarding efficiency and fault-tolerance, it also faces additional security threats. Users/IT administrators should be aware of risks from malicious code propagation, downloaded content legality, and P2P software’s vulnerabilities. Security and preventative measures are a must to protect networks from potential sensitive information leakage and security breaches. Bit Torrent is a popular and scalable P2P file distribution mechanism which successfully distributes large files quickly and efficiently without problems for origin server. Bit Torrent achieved excellent upload utilization according to measurement studies, but it also raised many questions as regards utilization in settings, than those measuring, fairness, and Bit Torrent’s mechanisms choice. This work proposed a block selection technique using Fuzzy ACO with optimal rules selected using ACO.
Keywords: Ant Colony Optimization (ACO), Bit Torrent, Download time, Peer-to-Peer (P2P) network, Performance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2590168 Health and Greenhouse Gas Emission Implications of Reducing Meat Intakes in Hong Kong
Authors: Cynthia Sau Chun Yip, Richard Fielding
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High meat and especially red meat intakes are significantly and positively associated with a multiple burden of diseases and also high greenhouse gas (GHG) emissions. This study investigated population meat intake patterns in Hong Kong. It quantified the burden of disease and GHG emission outcomes by modeling to adjust Hong Kong population meat intakes to recommended healthy levels. It compared age- and sex-specific population meat, fruit and vegetable intakes obtained from a population survey among adults aged 20 years and over in Hong Kong in 2005-2007, against intake recommendations suggested in the Modelling System to Inform the Revision of the Australian Guide to Healthy Eating (AGHE-2011-MS) technical document. This study found that meat and meat alternatives, especially red meat intakes among Hong Kong males aged 20+ years and over are significantly higher than recommended. Red meat intakes among females aged 50-69 years and other meat and alternatives intakes among aged 20-59 years are also higher than recommended. Taking the 2005-07 age- and sex-specific population meat intake as baselines, three counterfactual scenarios of adjusting Hong Kong adult population meat intakes to AGHE-2011-MS and Pre-2011 AGHE recommendations by the year 2030 were established. Consequent energy intake gaps were substituted with additional legume, fruit and vegetable intakes. To quantify the consequent GHG emission outcomes associated with Hong Kong meat intakes, Cradle-to-ready-to-eat lifecycle assessment emission outcome modelling was used. Comparative risk assessment of burden of disease model was used to quantify the health outcomes. This study found adjusting meat intakes to recommended levels could reduce Hong Kong GHG emission by 17%-44% when compared against baseline meat intake emissions, and prevent 2,519 to 7,012 premature deaths in males and 53 to 1,342 in females, as well as multiple burden of diseases when compared to the baseline meat intake scenario. Comparing lump sum meat intake reduction and outcome measures across the entire population, and using emission factors, and relative risks from individual studies in previous co-benefit studies, this study used age- and sex-specific input and output measures, emission factors and relative risks obtained from high quality meta-analysis and meta-review respectively, and has taken government dietary recommendations into account. Hence evaluations in this study are of better quality and more reflective of real life practices. Further to previous co-benefit studies, this study pinpointed age- and sex-specific population and meat-type-specific intervention points and leverages. When compared with similar studies in Australia, this study also showed that intervention points and leverages among populations in different geographic and cultural background could be different, and that globalization also globalizes meat consumption emission effects. More regional and cultural specific evaluations are recommended to promote more sustainable meat consumption and enhance global food security.Keywords: Burden of diseases, greenhouse gas emissions, Hong Kong diet, sustainable meat consumption.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1517167 Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio
Authors: F. Gökgöz, M. E. Atmaca
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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.
Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1486166 Residue and Ecological Risk Assessment of Polybrominated Diphenyl Ethers (PBDEs) in Sediment from CauBay River, Vietnam
Authors: Toan Vu Duc, Son Ha Viet
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This research presents the first comprehensive survey of congener profiles (7 indicator congeners) of polybrominated diphenyl ethers (PBDEs) in sediment samples covering ten sites in CauBay River, Vietnam. Chemical analyses were carried out in gas chromatography–mass spectrometry (GC–MS) for tri- to hepta- brominated congeners. Results pointed out a non-homogenous contamination of the sediment with ∑7 PBDE values ranging from 8.93 to 25.64ng g−1, reflecting moderate to low contamination closely in conformity to other Asian aquatic environments. The general order of decreasing congener contribution to the total load was: BDE 47 > 99 > 100 > 154, similar to the distribution pattern worldwide. PBDEs had rare risks in the sediment of studied area. However, due to the propensity of PBDEs to accumulate in various compartments of wildlife and human food webs, evaluation of biological tissues should be undertaken as a high priority.
Keywords: Residue, Risk assessment, PBDEs, Sediment.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2160165 Users’ Information Disclosure Determinants in Social Networking Sites: A Systematic Literature Review
Authors: Wajdan Al Malwi, Karen Renaud, Lewis Mackenzie
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The privacy paradox describes a phenomenon whereby there is no connection between stated privacy concerns and privacy behaviours. We need to understand the underlying reasons for this paradox if we are to help users to preserve their privacy more effectively. In particular, the Social Networking System (SNS) domain offers a rich area of investigation due to the risks of unwise information disclosure decisions. Our study thus aims to untangle the complicated nature and underlying mechanisms of online privacy-related decisions in SNSs. In this paper, we report on the findings of a Systematic Literature Review (SLR) that revealed a number of factors that are likely to influence online privacy decisions. Our deductive analysis approach was informed by Communicative Privacy Management (CPM) theory. We uncovered a lack of clarity around privacy attitudes and their link to behaviours, which makes it challenging to design privacy-protecting SNS platforms and to craft legislation to ensure that users’ privacy is preserved.Keywords: Privacy paradox, self-disclosure, privacy attitude, privacy behaviour, social networking sites.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 627164 Financial Portfolio Optimization in Turkish Electricity Market via Value at Risk
Authors: F. Gökgöz, M. E. Atmaca
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Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1053163 Objective and Subjective Preconditions for Entrepreneurship – From the Point of View of Enterprise Risk Management
Authors: Maria Luskova, Maria Hudakova, Katarina Buganova
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Established objective and subjective preconditions for entrepreneurship, forming the business organically related whole, are the necessary condition of successful entrepreneurial activities. Objective preconditions for entrepreneurship are developed by market economy that should stimulate entrepreneurship by allowing the use of economic opportunities for all those who want to do business in respective field while providing guarantees to all owners and creating a stable business environment for entrepreneurs. Subjective preconditions of entrepreneurship are formed primarily by personal characteristics of the entrepreneur. These are his properties, abilities, skills, physiological and psychological preconditions which may be inherited, inborn or sequentially developed and obtained during his life on the basis of education and influences of surrounding environment. The paper is dealing with issues of objective and subjective preconditions for entrepreneurship and provides their analysis in view of the current situation in Slovakia. It presents risks of the business environment in Slovakia that the Slovak managers considered the most significant in 2014 and defines the dominant attributes of the entrepreneur in the current business environment in Slovakia.
Keywords: Entrepreneurship, innovations, opportunity, risk, uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2786162 Critical Heights of Sloped Unsupported Trenches in Unsaturated Sand
Authors: Won Taek Oh, Adin Richard
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Workers are often required to enter unsupported trenches during the construction process, which may present serious risks. Trench failures can result in death or damage to adjacent properties, therefore trenches should be excavated with extreme precaution. Excavation work is often done in unsaturated soils, where the critical height (i.e. maximum depth that can be excavated without failure) of unsupported trenches can be more reliably estimated by considering the influence of matric suction. In this study, coupled stress/pore-water pressure analyses are conducted to investigate the critical height of sloped unsupported trenches considering the influence of pore-water pressure redistribution caused by excavating. Four different wall slopes (1.5V:1H, 2V:1H, 3V:1H, and 90°) and a vertical trench with the top 0.3 m sloped 1:1 were considered in the analyses with multiple depths of the ground water table in a sand. For comparison, the critical heights were also estimated using the limit equilibrium method for the same excavation scenarios used in the coupled analyses.
Keywords: Critical height, matric suction, unsaturated soil, unsupported trench.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1064161 A Socio-Technical Approach to Cyber-Risk Assessment
Authors: Kitty Kioskli, Nineta Polemi
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Evaluating the levels of cyber-security risks within an enterprise is most important in protecting its information system, services and all its digital assets against security incidents (e.g. accidents, malicious acts, massive cyber-attacks). The existing risk assessment methodologies (e.g. eBIOS, OCTAVE, CRAMM, NIST-800) adopt a technical approach considering as attack factors only the capability, intention and target of the attacker, and not paying attention to the attacker’s psychological profile and personality traits. In this paper, a socio-technical approach is proposed in cyber risk assessment, in order to achieve more realistic risk estimates by considering the personality traits of the attackers. In particular, based upon principles from investigative psychology and behavioural science, a multi-dimensional, extended, quantifiable model for an attacker’s profile is developed, which becomes an additional factor in the cyber risk level calculation.
Keywords: Attacker, behavioural models, cyber risk assessment, cyber-security, human factors, investigative psychology, ISO27001, ISO27005.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 973160 Modal Analysis for Study of Minor Historical Architecture
Authors: Milorad Pavlovic, Anna Manzato, Antonella Cecchi
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Cultural heritage conservation is a challenge for contemporary society. In recent decades, significant resources have been allocated for the conservation and restoration of architectural heritage. Historical buildings were restored, protected and reinforced with the intent to limit the risks of degradation or loss, due to phenomena of structural damage and to external factors such as differential settlements, earthquake effects, etc. The wide diffusion of historic masonry constructions in Italy, Europe and the Mediterranean area requires reliable tools for the evaluation of their structural safety. In this paper is presented a free modal analysis performed on a minor historical architecture located in the village of Bagno Grande, near the city of L’Aquila in Italy. The location is characterized by a complex urban context, seriously damaged by the earthquake of 2009. The aim of this work is to check the structural behavior of a masonry building characterized by several boundary conditions imposed by adjacent buildings and infrastructural facilities.
Keywords: FEM, masonry, minor historical architecture, modal analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1117159 Environmental Sanitation and Health Risks in Tropical Urban Settings: Case Study of Household Refuse and Diarrhea in Yaoundé-Cameroon
Authors: H. B. Nguendo Yongsi, Thora M. Herrmann, A. Lutumba Ntetu, Rémy Sietchiping, Christopher Bryant
Abstract:
Health problems linked to urban growth are current major concerns of developing countries. In 2002 and 2005, an interdisciplinary program “Populations et Espaces ├á Risques SANitaires" (PERSAN) was set up under the patronage of the Development and Research Institute. Centered on health in Cameroon-s urban environment, the program mainly sought to (i) identify diarrhoea risk factors in Yaoundé, (ii) to measure their prevalence and apprehend their spatial distribution. The crosssectional epidemiological study that was carried out revealed a diarrheic prevalence of 14.4% (437 cases of diarrhoea on the 3,034 children examined). Also, among risk factors studied, household refuse management methods used by city dwellers were statistically associated to these diarrhoeas. Moreover, it happened that levels of diarrhoeal attacks varied consistently from one neighbourhood to another because of the discrepancy urbanization process of the Yaoundé metropolis.Keywords: Diarrhea, health risk, household refuses handling, sanitation, Yaoundé.
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