Search results for: Collaborative risk analysis

Authors: A. Fathianpour, M. B. Jelodar, S. Wilkinson

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This paper outlines the approaches taken to assess multi-hazard assessments. There is currently confusion in assessing multi-hazard impacts, and so this study aims to determine which of the available options are the most useful. The paper uses an international literature search, and analysis of current multi-hazard assessments and a case study to illustrate the effectiveness of the chosen method. Findings from this study will help those wanting to assess multi-hazards to undertake a straightforward approach. The paper is significant as it helps to interpret the various approaches and concludes with the preferred method. Many people in the world live in hazardous environments and are susceptible to disasters. Unfortunately, when a disaster strikes it is often compounded by additional cascading hazards, thus people would confront more than one hazard simultaneously. Hazards include natural hazards (earthquakes, floods, etc.) or cascading human-made hazards (for example, Natural Hazard Triggering Technological disasters (Natech) such as fire, explosion, toxic release). Multi-hazards have a more destructive impact on urban areas than one hazard alone. In addition, climate change is creating links between different disasters such as causing landslide dams and debris flows leading to more destructive incidents. Much of the prevailing literature deals with only one hazard at a time. However, recently sophisticated multi-hazard assessments have started to appear. Given that multi-hazards occur, it is essential to take multi-hazard risk assessment under consideration. This paper aims to review the multi-hazard assessment methods through articles published to date and categorize the strengths and disadvantages of using these methods in risk assessment. Napier City is selected as a case study to demonstrate the necessity of using multi-hazard risk assessments. In order to assess multi-hazard risk assessments, first, the current multi-hazard risk assessment methods were described. Next, the drawbacks of these multi-hazard risk assessments were outlined. Finally, the improvements to current multi-hazard risk assessments to date were summarised. Generally, the main problem of multi-hazard risk assessment is to make a valid assumption of risk from the interactions of different hazards. Currently, risk assessment studies have started to assess multi-hazard situations, but drawbacks such as uncertainty and lack of data show the necessity for more precise risk assessment. It should be noted that ignoring or partial considering multi-hazards in risk assessment will lead to an overestimate or overlook in resilient and recovery action managements.

Keywords: Cascading hazards, multi-hazard, risk assessment, risk reduction.

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Authors: Sandija Zeverte-Rivza, Irina Pilvere, Baiba Rivza

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The use of renewable energy sources incl. biogas has become topical in accordance with the increasing demand for energy, decrease of fossil energy resources and the efforts to reduce greenhouse gas emissions as well as to increase energy independence from the territories where fossil energy resources are available.

As the technologies of biogas production from agricultural biomass develop, risk assessment and risk management become necessary for farms producing such a renewable energy. The need for risk assessments has become particularly topical when discussions on changing the biogas policy in the EU take place, which may influence the development of the sector in the future, as well as the operation of existing biogas facilities and their income level.

The current article describes results of the risk assessment for farms producing biomass from agriculture biomass in Latvia, the risk assessment system included 24 risks, that affect the whole biogas production process and the obtained results showed the high significance of political and production risks.

Keywords: Biogas production, risks, risk assessment.

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Authors: M. Balestrieri, C. Pusceddu

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Issues relating to the destructive phenomena that can damage people and goods have returned to the centre of debate in Italy with the increase in catastrophic episodes in recent years in a country which is highly vulnerable to hydrological risk. Environmental factors and geological and geomorphological territorial characteristics play an important role in determining the level of vulnerability and the natural tendency to risk. However, a territory has also been subjected to the requirements of and transformations of society and this brings other relevant factors. The reasons for the increase in destructive phenomena are often to be found in the territorial development models adopted. Stewardship of the landscape and management of risk are related issues. This study aims to summarize the most relevant elements about this connection and at the same time to clarify the role of environmental risk assessment as a tool to aid in the sustainable management of landscape. Finally, the study reflects on how regional and urban planners deal with environmental risk and which aspects should be monitored in order to adopt responsible and useful interventions.

Keywords: Assessment, landscape, risk, planning.

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Authors: Bello Nurudeen Akinsola

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The study analyzed the risk and returns of commercial-property in Southwestern Nigeria and selected stocksmarket investment between 2000 and 2009; compared the inflation hedging characteristics and diversification potentials of investing in commercial-property and selected stock- market investment. Primary data were collected on characteristics, rental and capital values of commercial- properties from their property managers through the use of questionnaire. Secondary data on stock prices and dividends on banking, insurance and conglomerates sectors were sourced from the Nigerian Stock Exchange (2000-2009). The result showed that average return on all the selected stock- investments was higher than that of commercial-property. As regards risk, commercial-property indicated lower risk, compared to stocks. Also the stock-investment had better inflation hedging capacity than commercial-properties; combination of both had diversification potentials. The study concluded that stock-market investment offered attractive higher return than commercial-property although with higher risk and there could be diversification benefits in combining commercial-property with stock- investment.

Keywords: Commercial-Property, Return, Risk, Stock Market

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Authors: Nargess Mottaghi Golshan, Siti Zaleha Abdul Rasid

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Purpose:This paper aims to gain insights to the influential factors of ERM adoptions by public listed firms in Malaysia. Findings:The two factors of financial leverage and auditor type were found to be significant influential factors for ERM adoption. In other words the findings indicated that firms with higher financial leverage and with a Big Four auditor are more likely to have a form of ERM framework in place. Originality/Value:Since there are relatively few studies conducted in this area and specially in developing economies like Malaysia, this study will broaden the scope of literature by providing novel empirical evidence.

Keywords: Enterprise risk management, risk, public listed company.

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Authors: Siti Raihana Hamzah

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This paper elaborates risk shifting in debt financing system as the ultimate cause of the global financial crisis. In contrast, risk sharing in equity financing like sukuk helps the economic system to be better sustained. Nevertheless, some types of sukuk are haunted by the issue of imitation with bonds. The critics on the imitation issue not only have raised doubt on the ability of sukuk to diminish risk shifting behavior but also the ability of this Islamic financial instrument to ensure better future financial stability. Through that, this paper provides discussion on the possibility of sukuk to induce risk shifting and how equity financing may help sukuk to be free from risk shifting. This paper is important in the sense that sukuk receives a significant demand from investors throughout the world. For this instrument to be supportive in the future economic stability, the issue of imitation needs to be identified and addressed. Furthermore, critics cannot be focused on debts and its ability to gauge the financial flux but also to sukuk due to their structures similarity.

Keywords: Global financial crisis, debt, risk-shifting, risk sharing, equity, sukuk, bonds.

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Authors: Daniele Traversaro

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Problem: Senior citizens have been facing a challenging reality as a result of strict public health measures designed to protect people from the COVID-19 outbreak. These include the risk of social isolation due to the inability of the elderly to integrate with technology. Never before have Information and Communication Technology (ICT) skills become essential for their everyday life. Although third-age ICT education and lifelong learning are widely supported by universities and governments, there is a lack of literature on which teaching strategy/methodology to adopt in an entirely online ICT course aimed at third-age learners. This contribution aims to present an application of the Think-Pair-Share (TPS) learning method in an ICT third-age virtual classroom with an intergenerational approach to conducting online group labs and review activities. Research Question: Is collaborative learning suitable and effective, in terms of student engagement and learning outcomes, in an online ICT course for the elderly? Methods: In the TPS strategy a problem is posed by the teacher, students have time to think about it individually, and then they work in pairs (or small groups) to solve the problem and share their ideas with the entire class. We performed four experiments in the ICT course of the University of the Third Age of Genova (University of Genova, Italy) on the Microsoft Teams platform. The study cohort consisted of 26 students over the age of 45. Data were collected through online questionnaires. Two have been proposed, one at the end of the first activity and another at the end of the course. They consisted of five and three close-ended questions, respectively. The answers were on a Likert scale (from 1 to 4) except two questions (which asked the number of correct answers given individually and in groups) and the field for free comments/suggestions. Results: Groups achieve better results than individual students (with scores greater than one order of magnitude) and most students found TPS helpful to work in groups and interact with their peers. Insights: From these early results, it appears that TPS is suitable for an online third-age ICT classroom and useful for promoting discussion and active learning. Despite this, our work has several limitations. First of all, the results highlight the need for more data to be able to perform a statistical analysis in order to determine the effectiveness of this methodology in terms of student engagement and learning outcomes as future direction.

Keywords: Collaborative learning, information technology education, lifelong learning, older adult education, think-pair-share.

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Authors: Dariusz Dymek, Leszek Kotulski

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Modeling of the distributed systems allows us to represent the whole its functionality. The working system instance rarely fulfils the whole functionality represented by model; usually some parts of this functionality should be accessible periodically. The reporting system based on the Data Warehouse concept seams to be an intuitive example of the system that some of its functionality is required only from time to time. Analyzing an enterprise risk associated with the periodical change of the system functionality, we should consider not only the inaccessibility of the components (object) but also their functions (methods), and the impact of such a situation on the system functionality from the business point of view. In the paper we suggest that the risk attributes should be estimated from risk attributes specified at the requirements level (Use Case in the UML model) on the base of the information about the structure of the model (presented at other levels of the UML model). We argue that it is desirable to consider the influence of periodical changes in requirements on the enterprise risk estimation. Finally, the proposition of such a solution basing on the UML system model is presented.

Keywords: Risk assessing, software maintenance, UML, graph grammars.

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Authors: Do Hyeung Kim, Dae Hee Seo, Byung Doo Kim, Byung Gil Lee

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As many recent researches being implemented in aviation and maritime aspects, strong doubts have been raised concerning the reliability of the estimation of collision risk. It is shown that using position and velocity of objects can lead to imprecise results. In this paper, therefore, a new approach to the estimation of collision risks using pose and shape of objects is proposed. Simulation results are presented validating the accuracy of the new criterion to adapt to collision risk algorithm based on fuzzy logic.

Keywords: Collision risk, Pose and shape, Fuzzy logic.

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Authors: S. Mahalakshmi, B. Senthil Arasu

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As per the recent changes happening in the global policies, climate related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate related changes can happen often and lead to risk and lot of uncertainty, but need to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed, so that the financial institutions can plan to mitigate it. Climate related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and others. And the models required to compute this have to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out to the suggestion that the climate related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries, instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, we present a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios, and how the different transition risks affect the risk associated with the different parties. This research paper delves on the topic of increase in concentration of greenhouse gases, that in turn causing global warming. It then considers the various scenarios of having the different risk drivers impacting credit and market risk of an institution, by understanding the transmission channels, and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II capital calculations, and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.

Keywords: Capital calculation, climate risk, credit risk, pillar II risk, scenario modeling.

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Authors: G. Büyüközkan , O. Feyzioglu, Z. Vardaloglu

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Collaborative planning, forecasting and replenishment (CPFR) coordinates the various supply chain management activities including production and purchase planning, demand forecasting and inventory replenishment between supply chain trading partners. This study proposes a systematic way of analyzing CPFR supporting factors using fuzzy cognitive map (FCM) approach. FCMs have proven particularly useful for solving problems in which a number of decision variables and uncontrollable variables are causally interrelated. Hence the FCMs of CPFR are created to show the relationships between the factors that influence on effective implementation of CPFR in the supply chain.

Keywords: Collaborative planning, forecasting and replenishment, fuzzy cognitive map, information sharing, decision synchronization, incentive alignment.

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Authors: Francesco Venuti, Simona Alfiero

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The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.

Keywords: Agency theory, corporate governance, insurance companies, risk taking.

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Authors: Dongdong Zhang, Deran Zhang

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In this paper, a Markovian risk model with two-type claims is considered. In such a risk model, the occurrences of the two type claims are described by two point processes {Ni(t), t ¸ 0}, i = 1, 2, where {Ni(t), t ¸ 0} is the number of jumps during the interval (0, t] for the Markov jump process {Xi(t), t ¸ 0} . The ruin probability ª(u) of a company facing such a risk model is mainly discussed. An integral equation satisfied by the ruin probability ª(u) is obtained and the bounds for the convergence rate of the ruin probability ª(u) are given by using key-renewal theorem.

Keywords: Risk model, ruin probability, Markov jump process, integral equation.

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Authors: Ali Serhan Koyuncugil, Nermin Ozgulbas

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In this paper, a data mining model to SMEs for detecting financial and operational risk indicators by data mining is presenting. The identification of the risk factors by clarifying the relationship between the variables defines the discovery of knowledge from the financial and operational variables. Automatic and estimation oriented information discovery process coincides the definition of data mining. During the formation of model; an easy to understand, easy to interpret and easy to apply utilitarian model that is far from the requirement of theoretical background is targeted by the discovery of the implicit relationships between the data and the identification of effect level of every factor. In addition, this paper is based on a project which was funded by The Scientific and Technological Research Council of Turkey (TUBITAK).

Keywords: Risk Management, Financial Risk, Operational Risk, Financial Early Warning System, Data Mining, CHAID Decision Tree Algorithm, SMEs.

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Authors: Amirhossein Karamoozian, Desheng Wu, Behzad Abbasnejad

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Building information modelling (BIM) is a new technology to enhance the efficiency of project management in the construction industry. In addition to the potential benefits of this useful technology, there are various risks and obstacles to applying it in construction projects. In this study, a decision making approach is presented for risk assessment in BIM adoption in construction projects. Various risk factors of exerting BIM during different phases of the project lifecycle are identified with the help of Delphi method, experts’ opinions and related literature. Afterward, Shannon’s entropy and Fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Situation) are applied to derive priorities of the identified risk factors. Results indicated that lack of knowledge between professional engineers about workflows in BIM and conflict of opinions between different stakeholders are the risk factors with the highest priority.

Keywords: Risk, BIM, Shannon’s entropy, Fuzzy TOPSIS, construction projects.

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Authors: I. Szer, J. Szer, M. Pieńko, A. Robak, P. Jamińska-Gadomska

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Work at height, such as construction works on scaffoldings, is associated with a considerable risk. Scaffolding workers are usually exposed to changing weather conditions what can additionally increase the risk of dangerous situations. Therefore, it is very important to foresee the risk of adverse conditions to which the worker may be exposed. The data from meteorological stations may be used to asses this risk. However, the dependency between weather conditions on a scaffolding and in the vicinity of meteorological station, should be determined. The paper presents an analysis of two selected environmental parameters which have influence on the behavior of workers – air temperature and wind speed. Measurements of these parameters were made between April and November of 2016 on ten scaffoldings located in different parts of Poland. They were compared with the results taken from the meteorological stations located closest to the studied scaffolding. The results gathered from the construction sites and meteorological stations were not the same, but statistical analyses have shown that they were correlated.

Keywords: Scaffoldings, health and safety at work, temperature, wind speed.

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Authors: Kyoung-jae Kim, Hyunchul Ahn, Sangwon Jeong

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This study proposes a novel recommender system to provide the advertisements of context-aware services. Our proposed model is designed to apply a modified collaborative filtering (CF) algorithm with regard to the several dimensions for the personalization of mobile devices – location, time and the user-s needs type. In particular, we employ a classification rule to understand user-s needs type using a decision tree algorithm. In addition, we collect primary data from the mobile phone users and apply them to the proposed model to validate its effectiveness. Experimental results show that the proposed system makes more accurate and satisfactory advertisements than comparative systems.

Keywords: Location-based advertisement, Recommender system, Collaborative filtering, User needs type, Mobile user.

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Authors: Mustapha Kamel Mihoubi, Mohamed Essadik Kerkar

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Probabilistic risk analysis models are used to provide a better understanding of the reliability and structural failure of works, including when calculating the stability of large structures to a major risk in the event of an accident or breakdown. This work is interested in the study of the probability of failure of concrete dams through the application of reliability analysis methods including the methods used in engineering. It is in our case, the use of level 2 methods via the study limit state. Hence, the probability of product failures is estimated by analytical methods of the type first order risk method (FORM) and the second order risk method (SORM). By way of comparison, a level three method was used which generates a full analysis of the problem and involves an integration of the probability density function of random variables extended to the field of security using the Monte Carlo simulation method. Taking into account the change in stress following load combinations: normal, exceptional and extreme acting on the dam, calculation of the results obtained have provided acceptable failure probability values which largely corroborate the theory, in fact, the probability of failure tends to increase with increasing load intensities, thus causing a significant decrease in strength, shear forces then induce a shift that threatens the reliability of the structure by intolerable values of the probability of product failures. Especially, in case the increase of uplift in a hypothetical default of the drainage system.

Keywords: Dam, failure, limit-state, Monte Carlo simulation, reliability, probability, simulation, sliding, Taylor.

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Authors: Radwa Mabrook

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Virtual Reality (VR) content creation is a complex and an expensive process, which requires multi-disciplinary teams of content creators. Grant schemes from technology companies help media organisations to explore the VR potential in journalism and factual storytelling. Media organisations try to do as much as they can in-house, but they may outsource due to time constraints and skill availability. Journalists, game developers, sound designers and creative artists work together and bring in new cultures of work. This study explores the collaborative experimental nature of VR content creation, through tracing every actor involved in the process and examining their perceptions of the VR work. The study builds on Actor Network Theory (ANT), which decomposes phenomena into their basic elements and traces the interrelations among them. Therefore, the researcher conducted 22 semi-structured interviews with VR content creators between November 2017 and April 2018. Purposive and snowball sampling techniques allowed the researcher to recruit fact-based VR content creators from production studios and media organisations, as well as freelancers. Interviews lasted up to three hours, and they were a mix of Skype calls and in-person interviews. Participants consented for their interviews to be recorded, and for their names to be revealed in the study. The researcher coded interviews’ transcripts in Nvivo software, looking for key themes that correspond with the research questions. The study revealed that VR content creators must be adaptive to change, open to learn and comfortable with mistakes. The VR content creation process is very iterative because VR has no established work flow or visual grammar. Multi-disciplinary VR team members often speak different languages making it hard to communicate. However, adaptive content creators perceive VR work as a fun experience and an opportunity to learn. The traditional sense of competition and the strive for information exclusivity are now replaced by a strong drive for knowledge sharing. VR content creators are open to share their methods of work and their experiences. They target to build a collaborative network that aims to harness VR technology for journalism and factual storytelling. Indeed, VR is instilling collaborative and experimental cultures in journalism.

Keywords: Collaborative culture, content creation, experimental culture, virtual reality.

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Authors: Jayaletchumi T. Sambantha Moorthy, Suhaimi bin Ibrahim, Mohd Naz’ri Mahrin

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Most quality models have defined usability as a significant factor that leads to improving product acceptability, increasing user satisfaction, improving product reliability, and also financially benefitting companies. Usability is also the best factor that balances both the technical and human aspects of a software product, which is an important aspect in defining quality during software development process. A usability risk consist risk factors that could impact the usability of a software product thereby contributing to negative user experiences and causing a possible software product failure. Hence, it is important to mitigate and reduce usability risks in the software development process itself. By managing possible usability risks in software development process, failure of software product could be reduced. Therefore, this research uses the Delphi method to identify mitigation plans for reducing potential usability risks. The Delphi method is conducted with seven experts from the field of risk management and software development.

Keywords: Usability, Usability Risk, Risk Management, Risk Mitigation, Delphi Method.

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Authors: Manel Mosbahi

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The risk of water erosion is one of the main environmental concerns in the southern Mediterranean regions. Thus, quantification of soil loss is an important issue for soil and water conservation managers. The objective of this paper is to examine the applicability of the Soil and Water Assessment Tool (SWAT) model in The Sarrath river catchment, North of Tunisia, and to identify the most vulnerable areas in order to help manager implement an effective management program. The spatial analysis of the results shows that 7 % of the catchment experiences very high erosion risk, in need for suitable conservation measures to be adopted on a priority basis. The spatial distribution of erosion risk classes estimated 3% high, 5,4% tolerable, and 84,6% low. Among the 27 delineated subcatchments only 4 sub-catchments are found to be under high and very high soil loss group, two sub-catchments fell under moderate soil loss group, whereas other sub-catchments are under low soil loss group.

Keywords: Critical source areas, Erosion risk, SWAT model.

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Authors: Mustapha Achibane, Imane Allam

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Since the nineties, all Moroccan banking institutions have to respect an arsenal of prudential ratios. The respect of these prudential measures aims to ensure the financial system stability. In order to do so, regulatory authorities tried to reduce the financial and operational risks incurred by the banking entities. Meanwhile, regulatory authorities demanded a balance sheet management work from banks. They also asked them to establish a management control system to manage operational risk, as well as an effort in terms of incurred risk-based commitments. Therefore, the prudential approach has a macroeconomic nature and it is presented as a determinant of the operational, microeconomic approach. This operational approach takes the form of a strategy that each banking entity must develop to manage the different banking risks. This study seeks to analyze the problem of risk management between the prudential and the operational approaches. It was processed through a literature review followed by an analysis of the Moroccan banking sector’s performance. At first, we will reconcile the inductive logic and then, the analytical one. The first approach consists of analyzing the phenomenon from a normative and conceptual perspective, while the second one will consist of considering the Moroccan banking system and analyzing the behavior of Moroccan banking entities in terms of risk management and performance. The results identified a favorable growth in terms of performance, despite the huge provisioning effort made to meet the international standards and the harmonization of the regulations.

Keywords: Banking performance, financial intermediation, operational approach, prudential standards, risk management.

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Authors: Avelino Mondlane, Karin Hansson, Oliver Popov, Xavier Muianga

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This paper discusses the role and importance of Information and Communication Technologies (ICT) and social Networking (SN) in the process of decision making for Flood Risk and Knowledge Management Strategies. We use Mozambique Red Cross (CVM) as the case study and further more we address scenarios for flood risk management strategies, using earlier warning and social networking and we argue that a sustainable desirable stage of life can be achieved by developing scenario strategic planning based on backcasting.

Keywords: ICT, KM, scenario planning, backcasting and flood risk management.

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Authors: Yu-Chen Lin, Tzong-Yeang Lee, Hung-Chih Shih

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The development of sustainable utilization water resources is crucial. The ecological environment and water resources systems form the foundation of the existence and development of the social economy. The urban ecological support system depends on these resources as well. This research studies the vulnerability, criticality, and risk of climate change on water supply and demand in the main administrative district of the Taijiang Area (Tainan City). Based on the two situations set in this paper and various factors (indexes), this research adopts two kinds of weights (equal and AHP) to conduct the calculation and establish the water supply and demand risk map for the target year 2039. According to the risk analysis result, which is based on equal weight, only one district belongs to a high-grade district (Grade 4). Based on the AHP weight, 16 districts belong to a high-grade or higher-grade district (Grades 4 and 5), and from among them, two districts belong to the highest grade (Grade 5). These results show that the risk level of water supply and demand in cities is higher than that in towns. The government generally gives more attention to the adjustment strategy in the “cities." However, it should also provide proper adjustment strategies for the “towns" to be able to cope with the risks of water supply and demand.

Keywords: Climate change, risk, vulnerability, water supply and demand.

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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.

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Authors: Leong Lee, Jennifer Leopold, Julia Albath, Alton Coalter

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As more people from non-technical backgrounds are becoming directly involved with large-scale ontology development, the focal point of ontology research has shifted from the more theoretical ontology issues to problems associated with the actual use of ontologies in real-world, large-scale collaborative applications. Recently the National Science Foundation funded a large collaborative ontology development project for which a new formal ontology model, the Ontology Abstract Machine (OAM), was developed to satisfy some unique functional and data representation requirements. This paper introduces the OAM model and the related algorithms that enable maintenance of an ontology that supports node-based user access. The successful software implementation of the OAM model and its subsequent acceptance by a large research community proves its validity and its real-world application value.

Keywords: Ontology, Abstract Machine, Ontology Editor, WebbasedOntology Management System.

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Authors: Zina Benouaret, Djamil Aissani

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In this work, we introduce the qualitative and quantitative concept of the strong stability method in the risk process modeling two lines of business of the same insurance company or an insurance and re-insurance companies that divide between them both claims and premiums with a certain proportion. The approach proposed is based on the identification of the ruin probability associate to the model considered, with a stationary distribution of a Markov random process called a reversed process. Our objective, after clarifying the condition and the perturbation domain of parameters, is to obtain the stability inequality of the ruin probability which is applied to estimate the approximation error of a model with disturbance parameters by the considered model. In the stability bound obtained, all constants are explicitly written.

Keywords: Markov chain, risk models, ruin probabilities, strong stability analysis.

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Authors: Marcelo Dias Carvalho, Leticia Ishikawa

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Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk management techniques and management policies designed to create lean enterprises. The result of a good balance of these actions is the reduction of losses, increased customer trust in the company and better preparedness to face the general risks of a supply chain.

Keywords: Supply chain disruptions, supply chain management, supply chain resilience, just-in-time production, lean manufacturing.

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Authors: Gerard E. Sleefe

Abstract:

There is significant interest in achieving technology innovation through new product development activities. It is recognized, however, that traditional project management practices focused only on performance, cost, and schedule attributes, can often lead to risk mitigation strategies that limit new technology innovation. In this paper, a new approach is proposed for formally managing and quantifying technology innovation. This approach uses a risk-based framework that simultaneously optimizes innovation attributes along with traditional project management and system engineering attributes. To demonstrate the efficacy of the new riskbased approach, a comprehensive product development experiment was conducted. This experiment simultaneously managed the innovation risks and the product delivery risks through the proposed risk-based framework. Quantitative metrics for technology innovation were tracked and the experimental results indicate that the risk-based approach can simultaneously achieve both project deliverable and innovation objectives.

Keywords: innovation, risk assessment, product development, technology management.

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Authors: Andreia Guimarães Farnese, Mateus Fernandes Réu Urban, Leandro Procópio, Renato Zângaro, Regiane Albertini

Abstract:

Senescence changes include postural balance, inferring the risk of falls, and can lead to fractures, bedridden, and the risk of death. Physical activity, e.g., cardiovascular exercises, is notable for improving balance due to brain cell stimulations, but fine coordination exercises also elevate cell brain metabolism. This study aimed to verify whether the elderly person who performs fine motor activity has a balance similar to that of those who practice physical activity. The subjects were divided into three groups according to the activity practice: control group (CG) with seven participants for the sedentary individuals, motor coordination group (MCG) with six participants, and physical activity group (PAG) with eight participants. Data comparisons were from the Berg balance scale, Time up and Go test, and stabilometric analysis. Descriptive statistical and ANOVA analyses were performed for data analysis. The results reveal that including fine motor activities can improve the balance of the elderly and indirectly decrease the risk of falls.

Keywords: Balance, barapodometer, coordination, elderly.

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