Search results for: Risk Management Process

Authors: Piotr Prewysz-Kwinto

Abstract:

The market of financial instruments with high risk is developing very dynamically in recent years and attracts more and more interest of investors. It consists essentially of two groups of instruments, i.e. derivatives and exchange traded product (ETP), and each year new types are introduced and offered to investors. The aim of this paper is to present the principles concerning financial instruments with high investment risk available on the Warsaw Stock Exchange (WSE), because they have quite complex constructions, and to evaluate the development of this market. In order to achieve this aim, statistical data from 2014-2016 was analyzed. The results confirm that the financial instruments with high investment risk available on the WSE constitute a diversified and the most numerous group of financial instruments and attract the most interest of investors. Responsible investing requires, however, a good knowledge of how they work and how they can generate profit to not expose oneself to unexpected losses.

Keywords: Derivatives, exchange traded products, financial instruments, financial market, risk, stock exchange.

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Authors: Peichen Zhao

Abstract:

In this paper, we extend the compound binomial model to the case where the premium income process, based on a binomial process, is no longer a linear function. First, a mathematically recursive formula is derived for non ruin probability, and then, we examine the expected discounted penalty function, satisfy a defect renewal equation. Third, the asymptotic estimate for the expected discounted penalty function is then given. Finally, we give two examples of ruin quantities to illustrate applications of the recursive formula and the asymptotic estimate for penalty function.

Keywords: Discounted penalty function, compound binomial process, recursive formula, discrete renewal equation, asymptotic estimate.

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: Accounting information, market risk, systematic risk, efficient market hypothesis, EMH, Tehran Stock Exchange, TSE.

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Authors: M. Kosacka, I. Kudelska

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Vehicle is one of the most influential and complex product worldwide, which affects people’s life, state of the environment and condition of the economy (all aspects of sustainable development concept) during each stage of lifecycle. With the increase of vehicles’ number, there is growing potential for management of End of Life Vehicle (ELV), which is hazardous waste. From one point of view, the ELV should be managed to ensure risk elimination, but from another point, it should be treated as a source of valuable materials and spare parts. In order to obtain materials and spare parts, there are established recycling networks, which are an example of sustainable policy realization at the national level. The basic object in the polish recycling network is dismantling facility. The output material streams in dismantling stations include waste, which very often generate costs and spare parts, that have the biggest potential for revenues creation. Both outputs are stored into warehouses, according to the law. In accordance to the revenue creation and sustainability potential, it has been placed a strong emphasis on storage process. We present the concept of storage method, which takes into account the specific of the dismantling facility in order to support decision-making process with regard to the principles of sustainable development. The method was developed on the basis of case study of one of the greatest dismantling facility in Poland.

Keywords: Dismantling, end of life vehicle, sustainability, storage.

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Authors: Ivo Jánský, Milan Rippel

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The paper evaluates several hundred one-day-ahead VaR forecasting models in the time period between the years 2004 and 2009 on data from six world stock indices - DJI, GSPC, IXIC, FTSE, GDAXI and N225. The models model mean using the ARMA processes with up to two lags and variance with one of GARCH, EGARCH or TARCH processes with up to two lags. The models are estimated on the data from the in-sample period and their forecasting accuracy is evaluated on the out-of-sample data, which are more volatile. The main aim of the paper is to test whether a model estimated on data with lower volatility can be used in periods with higher volatility. The evaluation is based on the conditional coverage test and is performed on each stock index separately. The primary result of the paper is that the volatility is best modelled using a GARCH process and that an ARMA process pattern cannot be found in analyzed time series.

Keywords: VaR, risk analysis, conditional volatility, garch, egarch, tarch, moving average process, autoregressive process

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Authors: Vladimir Simovic, Matija Varga, Tonco Marusic

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This research paper shows matrix technology models and examples of information systems in education (in the Republic of Croatia and in the Germany) in support of business, education (when learning and teaching) and e-learning. Here we researched and described the aims and objectives of the main process in education and technology, with main matrix classes of data. In this paper, we have example of matrix technology with detailed description of processes related to specific data classes in the processes of education and an example module that is support for the process: ‘Filling in the directory and the diary of work’ and ‘evaluation’. Also, on the lower level of the processes, we researched and described all activities which take place within the lower process in education. We researched and described the characteristics and functioning of modules: ‘Fill the directory and the diary of work’ and ‘evaluation’. For the analysis of the affinity between the aforementioned processes and/or sub-process we used our application model created in Visual Basic, which was based on the algorithm for analyzing the affinity between the observed processes and/or sub-processes.

Keywords: Designing, education management, information systems, matrix technology, process affinity.

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Authors: Siavash Asadi Ghajarloo

Abstract:

Nowadays predicting political risk level of country has become a critical issue for investors who intend to achieve accurate information concerning stability of the business environments. Since, most of the times investors are layman and nonprofessional IT personnel; this paper aims to propose a framework named GECR in order to help nonexpert persons to discover political risk stability across time based on the political news and events. To achieve this goal, the Bayesian Networks approach was utilized for 186 political news of Pakistan as sample dataset. Bayesian Networks as an artificial intelligence approach has been employed in presented framework, since this is a powerful technique that can be applied to model uncertain domains. The results showed that our framework along with Bayesian Networks as decision support tool, predicted the political risk level with a high degree of accuracy.

Keywords: Bayesian Networks, Data mining, GECRframework, Predicting political risk.

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Authors: Sung-Hun Lee, Yun-Seong Lee, Jin-O Kim

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Reliability Centered Maintenance(RCM) is one of most widely used methods in the modern power system to schedule a maintenance cycle and determine the priority of inspection. In order to apply the RCM method to the Smart Grid, a precedence study for the new structure of rearranged system should be performed due to introduction of additional installation such as renewable and sustainable energy resources, energy storage devices and advanced metering infrastructure. This paper proposes a new method to evaluate the priority of maintenance and inspection of the power system facilities in the Smart Grid using the Risk Priority Number. In order to calculate that risk index, it is required that the reliability block diagram should be analyzed for the Smart Grid system. Finally, the feasible technical method is discussed to estimate the risk potential as part of the RCM procedure.

Keywords: Expert System, FMECA, Fuzzy Theory, Reliability Centered Maintenance, Risk Priority Number

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Authors: Dalia Suša Vugec

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Business process management (BPM) is widely used approach focused on designing, mapping, changing, managing and analyzing business processes of an organization, which eventually leads to better performance and derives many other benefits. Since every organization strives to improve its performance in order to be sustainable and to remain competitive on the market in long-term period, numerous organizations are nowadays adopting and implementing BPM. However, not all organizations are equally successful in that. One of the ways of measuring BPM success is by measuring its maturity by calculating Process Performance Index (PPI) using ten BPM success factors. Still, although BPM is a holistic concept, organizational culture is not taken into consideration in calculating PPI. Hence, aim of this paper is twofold; first, it aims to explore and analyze the current state of BPM success factors within the big organizations from Slovenia, Croatia, and Austria and second, it aims to analyze the structure of organizational culture within the observed companies, focusing on the link with BPM success factors as well. The presented study is based on the results of the questionnaire conducted as the part of the PROSPER project (IP-2014-09-3729) and financed by Croatian Science Foundation. The results of the questionnaire reveal differences in the achieved levels of BPM success factors and therefore BPM maturity in total between the three observed countries. Moreover, the structure of organizational culture across three countries also differs. This paper discusses the revealed differences between countries as well as the link between organizational culture and BPM success factors.

Keywords: Business process management, BPM maturity, BPM success factors, organizational culture, process performance index.

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Authors: Min Min Swe Zin

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This paper introduces the foundations of Bayesian probability theory and Bayesian decision method. The main goal of Bayesian decision theory is to minimize the expected loss of a decision or minimize the expected risk. The purposes of this study are to review the decision process on the issue of flood occurrences and to suggest possible process for decision improvement. This study examines the problem structure of flood occurrences and theoretically explicates the decision-analytic approach based on Bayesian decision theory and application to flood occurrences in Environmental Engineering. In this study, we will discuss about the flood occurrences upon an annual maximum water level in cm, 43-year record available from 1965 to 2007 at the gauging station of Sagaing on the Ayeyarwady River with the drainage area - 120193 sq km by using Bayesian decision method. As a result, we will discuss the loss and risk of vast areas of agricultural land whether which will be inundated or not in the coming year based on the two standard maximum water levels during 43 years. And also we forecast about that lands will be safe from flood water during the next 10 years.

Keywords: Bayesian decision method, conditional binomial distribution, minimax rules, prior beta distribution.

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Authors: Kudzai Ashley Tagwira, Michelle Marle Marais, Tracy Anne Ludwig, Rutendo Precious Chidziva, Mavis Nyaradzo Munodawafa, Wendy M. Wrench, Roman Tandlich

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Risk of infectious disease outbreaks is related to the hygiene among the population. To assess the actual risks and modify the relevant emergency procedures if necessary, a hygiene survey was conducted among undergraduate students on the Rhodes University campus. Soap was available to 10.5% and only 26.8% of the study participants followed proper hygiene in relation to food consumption. This combination increases the risk of infectious disease outbreaks at the campus. Around 83.6% were willing to wash their hands if soap was provided. Procurement and availability of soap in undergraduate residences on campus should be improved, as the total cost is estimated at only 2000 USD per annum. Awareness campaigns about food-related hygiene and the need for regular handwashing with soap should be run among Rhodes University students. If successful, rates of respiratory and hygiene-related diseases will be decreased and emergency health management simplified.

Keywords: Awareness, Food hygiene, Infectious disease spread, Undergraduate students.

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Authors: V. Sulakatko, F. U. Vogdt, I. Lill

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Construction technology and on-site construction activities have a direct influence on the life cycle costs of energy efficiently renovated apartment buildings. The systematic inadequacies of the External Thermal Insulation Composite System (ETICS) which occur during the construction phase increase the risk for all stakeholders, reduce mechanical durability and increase the life cycle costs of the building. The economic effect of these shortcomings can be minimised if the risk of the most significant on-site activities is recognised. The objective of the presented ETICS economic assessment concept is to evaluate the economic influence of on-site shortcomings and reveal their significance to the foreseeable future repair costs. The model assembles repair techniques, discusses their direct cost calculation methods, argues over the proper usage of net present value over the life cycle of the building, and proposes a simulation tool to evaluate the risk of on-site activities. As the technique is dependent on the selected real interest rate, a sensitivity analysis is anticipated to determine the validity of the recommendations. After the verification of the model on the sample buildings by the industry, it is expected to increase economic rationality of resource allocation and reduce high-risk systematic shortcomings during the construction process of ETICS.

Keywords: Activity-based cost estimating, Cost estimation, ETICS, Life cycle costing.

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Authors: Tim Nedyalkov

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A business decision to move to the cloud brings fundamental changes in how an organization develops and delivers its Information Technology solutions. The accelerated pace of digital transformation across businesses and government agencies increases the reliance on cloud-based services. Collecting, managing, and retaining large amounts of data in cloud environments make information security and data privacy protection essential. It becomes even more important to understand what key factors drive successful cloud adoption following the commencement of the Privacy Amendment Notifiable Data Breaches (NDB) Act 2017 in Australia as the regulatory changes impact many organizations and industries. This quantitative correlational research investigated the governance, risk management, and compliance factors contributing to cloud security success. The factors influence the adoption of cloud computing within an organizational context after the commencement of the NDB scheme. The results and findings demonstrated that corporate information security policies, data storage location, management understanding of data governance responsibilities, and regular compliance assessments are the factors influencing cloud computing adoption. The research has implications for organizations, future researchers, practitioners, policymakers, and cloud computing providers to meet the rapidly changing regulatory and compliance requirements.

Keywords: Cloud compliance, cloud security, cloud security governance, data governance, privacy protection.

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Authors: Anders Troedsson

Abstract:

For us humans, risk and insecurity are intimately linked to vulnerabilities - where there is vulnerability, there is potentially risk and insecurity. Reducing vulnerability through compensatory measures means decreasing the likelihood of a certain external event be qualified as a risk/threat/assault, and thus also means increasing the individual’s sense of security. The paper suggests that a meaningful way to approach the study of risk/ insecurity is to organize thinking about the vulnerabilities that external phenomena evoke in humans as perceived by them. Such phenomena are, through a set of given vulnerabilities, potentially translated into perceptions of "insecurity." An ontological discussion about salient timespace characteristics of external phenomena as perceived by humans, including such which potentially can be qualified as risk/threat/assault, leads to the positing of two dimensions which are central for describing what in the paper is called the essence of risk/threat/assault. As is argued, such modeling helps analysis steer free of the subjective factor which is intimately connected to human perception and which mediates between phenomena “out there” potentially identified as risk/threat/assault, and their translation into an experience of security or insecurity. A proposed set of universally given vulnerabilities are scrutinized with the help of the two dimensions, resulting in a modeling effort featuring four realms of vulnerabilities which together represent a dynamic whole. This model in turn informs modeling on human security.

Keywords: Human vulnerabilities, human security, inert-immediate, material-immaterial, timespace.

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Authors: Shaya Alshahrani

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Perceived risks play a major role in consumer intentions, behaviors, attitudes, and decisions about online shopping in the KSA. This paper investigates the influence of six perceived risk dimensions on Saudi consumers: product risk, information risk, financial risk, privacy and security risk, delivery risk, and terms and conditions risk empirically. To ensure the success of this study, a random survey was distributed to reflect the consumers’ perceived risk and to enable the generalization of the results. Data were collected from 323 respondents in the Kingdom of Saudi Arabia (KSA): 50 who had never shopped online and 273 who had done so. The results indicated that all six risks influenced the respondents’ perceptions of online shopping. The non-online shoppers perceived financial and delivery risks as the most significant barriers to online shopping. This was followed closely by performance, information, and privacy and security risks. Terms and conditions were perceived as less significant. The online consumers considered delivery and performance risks to be the most significant influences on internet shopping. This was followed closely by information and terms and conditions. Financial and privacy and security risks were perceived as less significant. This paper argues that introducing adequate legal solutions to addressing related problems arising from this study is an urgent need. This may enhance consumer trust in the KSA online market, increase consumers’ intentions regarding online shopping, and improve consumer protection.

Keywords: Perceived risk, consumer protection, online shopping, Saudi Arabia, online contracts, e-commerce.

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Authors: E. Harrer, M. Mauerhofer, T. Werginz

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As a result of intensive competition, the building sector is suffering from a high degree of rivalry. Furthermore, there can be observed an unbalanced distribution of project risks. Clients are aimed to shift their own risks into the sphere of the constructors or planners. The consequence of this is that the number of conflicts between the involved parties is inordinately high or even increasing; an alternative approach to counter on that developments are cooperative project forms in the construction sector. This research compares conventional contract models and models with partnering agreements to examine the influence on project risks by an early integration of the involved parties. The goal is to show up deviations in different project stages from the design phase to the project transfer phase. These deviations are evaluated by a survey of experts from the three spheres: clients, contractors and planners. By rating the influence of the participants on specific risk factors it is possible to identify factors which are relevant for a smooth project execution.

Keywords: Collaborative work, construction industry, contract-models, influence, partnering, project management, risk.

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Authors: K. Movagharnejad, M. Akbari

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Carbon dioxide capture process has been simulated and studied under different process conditions. It has been shown that several process parameters such as lean amine temperature, number of adsorber stages, number of stripper stages and stripper pressure affect different process conditions and outputs such as carbon dioxide removal and reboiler duty. It may be concluded that the simulation of carbon dioxide capture process can help to estimate the best process conditions.

Keywords: Absorption, carbon dioxide capture, desorption, process simulation.

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Authors: Jazaul Ikhsan, Masaharu Fujita

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Safety, river environment, and sediment utilization are the elements of the target of sediment management. As a change in an element by sediment management, may affect the other two elements, and the priority among three elements depends on stakeholders. It is necessary to develop a method to evaluate the effect of sediment management on each element and an integrated evaluation method for socio-economic effect. In this study, taking Mount Merapi basin as an investigation field, the method for an active volcanic basin was developed. An integrated evaluation method for sediment management was discussed from a socio-economic point on safety, environment, and sediment utilization and a case study of sediment management was evaluated by means of this method. To evaluate the effect of sediment management, some parameters on safety, utilization, and environment have been introduced. From a utilization point of view, job opportunity, additional income of local people, and tax income to local government were used to evaluate the effectiveness of sediment management. The risk degree of river infrastructure was used to describe the effect of sediment management on a safety aspect. To evaluate the effects of sediment management on environment, the mean diameter of grain size distribution of riverbed surface was used. On the coordinate system designating these elements, the direction of change in basin condition by sediment management can be predicted, so that the most preferable sediment management can be decided. The results indicate that the cases of sediment management tend to give the negative impacts on sediment utilization. However, these sediment managements will give positive impacts on safety and environment condition. Evaluation result from a social-economic point of view shows that the case study of sediment management reduces job opportunity and additional income for inhabitants as well as tax income for government. Therefore, it is necessary to make another policy for creating job opportunity for inhabitants to support these sediment managements.

Keywords: Merapi, sediment, management, evaluation

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Authors: Babak Mohajeri, Sen Bao, Timo Nyberg

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Customer experience is increasingly the differentiator between successful companies and those who struggle. Currently, customer experiences become more dynamic; and they advance with each interaction between the company and a customer. Every customer conversation and any effort to evolve these conversations would be beneficial and should ultimately result in a positive customer experience. The aim of this paper is to analyze the evolving customer experience management landscape and the relevant challenges and opportunities. A case study on the “paper machine” companies is chosen. Hence, this paper analyzes the challenges and opportunities in customer experience management of paper machine companies for the case of “road to steel”. Road to steel shows the journey of steel from raw material to end product (i.e. paper machine in this paper). ALPHA (Steel company) and BETA (paper machine company), are chosen and their efforts to evolve the customer experiences are investigated. Semi-structured interviews are conducted with experts in those companies to identify the challenges and opportunities of the evolving customer experience management from their point of view. The findings of this paper contribute to the theory and business practices in the realm of the evolving customer experience management landscape.

Keywords: Customer experience management, paper machine risk analysis, value chain management.

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Authors: Amos Barkai, Guy Meredith, Fatima Felaar, Zahrah Dantie, Dave de Buys

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Fisheries management all around the world is hampered by the lack, or poor quality, of critical data on fish resources and fishing operations. The main reasons for the chronic inability to collect good quality data during fishing operations is the culture of secrecy common among fishers and the lack of modern data gathering technology onboard most fishing vessels. In response, OLRAC-SPS, a South African company, developed fisheries datalogging software (eLog in short) and named it Olrac. The Olrac eLog solution is capable of collecting, analysing, plotting, mapping, reporting, tracing and transmitting all data related to fishing operations. Olrac can be used by skippers, fleet/company managers, offshore mariculture farmers, scientists, observers, compliance inspectors and fisheries management authorities. The authors believe that using eLog onboard fishing vessels has the potential to revolutionise the entire process of data collection and reporting during fishing operations and, if properly deployed and utilised, could transform the entire commercial fleet to a provider of good quality data and forever change the way fish resources are managed. In addition it will make it possible to trace catches back to the actual individual fishing operation, to improve fishing efficiency and to dramatically improve control of fishing operations and enforcement of fishing regulations.

Keywords: data management, electronic logbook (eLog), electronic reporting system (ERS), fisheries management

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Authors: Agnieszka Misztal

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The popularity of quality management system models continues to grow despite the transitional crisis in 2008. Their development is associated with demands of the new requirements for entrepreneurs, such as risk analysis projects and more emphasis on supervision of outsourced processes. In parallel, it is appropriate to focus attention on the selection of companies aspiring to a quality management system. This is particularly important in the automotive supplier industry, where requirements transferred to the levels in the supply chain should be clear, transparent and fairly satisfied. The author has carried out a series of researches aimed at finding the factors that allow for the effective implementation of the quality management system in automotive companies. The research was focused on four groups of companies: 1) manufacturing (parts and assemblies for the purpose of sale or for vehicle manufacturers), 2) service (repair and maintenance of the car) 3) services for the transport of goods or people, 4) commercial (auto parts and vehicles). The identified determinants were divided into two types of criteria: internal and external, as well as hard and soft. The article presents the hard – technical factors that an automotive company must meet in order to achieve the goal of the quality management system implementation.

Keywords: Automotive industry, quality management system.

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Authors: Taner Ersoz, Filiz Ersoz, Seyma Ozbilge

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In this study, the clients who applied to a bank branch for loan were analyzed through data mining. The study was composed of the information such as amounts of loans received by personal and SME clients working with the bank branch, installment numbers, number of delays in loan installments, payments available in other banks and number of banks to which they are in debt between 2010 and 2013. The client risk profile was examined through Classification and Regression Tree (CART) analysis, one of the decision tree classification methods. At the end of the study, 5 different types of customers have been determined on the decision tree. The classification of these types of customers has been created with the rating of those posing a risk for the bank branch and the customers have been classified according to the risk ratings.

Keywords: Client classification, loan suitability, risk rating, CART analysis, decision tree.

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Authors: P. Pongsumpun

Abstract:

The Swine flu outbreak in humans is due to a new strain of influenza A virus subtype H1N1 that derives in part from human influenza, avian influenza, and two separated strains of swine influenza. It can be transmitted from human to human. A mathematical model for the transmission of Swine flu is developed in which the human populations are divided into two classes, the risk and non-risk human classes. Each class is separated into susceptible, exposed, infectious, quarantine and recovered sub-classes. In this paper, we formulate the dynamical model of Swine flu transmission and the repetitive contacts between the people are also considered. We analyze the behavior for the transmission of this disease. The Threshold condition of this disease is found and numerical results are shown to confirm our theoretical predictions.

Keywords: Mathematical model, Steady state, Swine flu, threshold condition.

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Authors: B. Gechbaia, K. Goletiani, G. Gabedava, N. Mikeltadze

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At this stage, Georgia is a country which is actively involved in the European integration process, for which the primary priority is effective integration in the European education system. The modern Georgian higher education system is the process of establishing a new sociocultural reality, whose main priorities are determined by the Quality System as a continuous cycle of planning, implementation, checking and acting. Obviously, in this situation, the issue of management of education institutions comes out in the foreground, since the proper planning and implementation of personnel management processes is one of the main determinants of the company's performance. At the same time, one of the most important factors is the psychological comfort of the personnel, ensuring their protection and efficiency of stress management policy.

The purpose of this research is to determine how intensely the relationship is between the psychological comfort of the personnel and the efficiency of the quality system in the institution as the quality assurance mechanisms of educational institutions affect the stability of personnel, prevention and management of the stressful situation. The research was carried out within the framework of the Internal Grant Project «The Role of Organizational Culture in the Process of Settlement of Management of Stress and Conflict, Georgian Reality and European Experience » of the Batumi Navigation Teaching University, based on the analysis of the survey results of target groups. The small-scale research conducted by us has revealed that the introduction of quality assurance system and its active implementation increased the quality of management of Georgian educational institutions, increased the level of universal engagement in internal and external processes and as a result, it has improved the quality of education as well as social and psychological comfort indicators of the society.

Keywords: Quality assurance, effective management, stability of personnel, psychological comfort, stress management.

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Authors: D. Jakovčević, M. Mihelja Žaja

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The purpose of this paper is to analyze the influence and relative share of underwriting risks in explaining the variation in insurance cycles in subsequent periods. Through the insurance contracts they underwrite, insurance companies assume risks. Underwriting risks include pricing risk, reserve risk, reinsurance risk and occurrence risk. These risks pose major risks for property and liability insurers, and therefore their impact on the insurance cycle is important. The main goal of this paper is to determine the relative proportion of underwriting risks in explaining the variation of insurance cycle. In order to fulfill the main goal of the paper vector autoregressive model, VAR, will be applied.

Keywords: Insurance cycle, insurance risks, combined ratio, Republic of Croatia.

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Authors: Saipunidzam Mahamad, Mohammad Noor Ibrahim, Rozana Kasbon, Chap Samol

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Animated graph gives some good impressions in presenting information. However, not many people are able to produce it because the process of generating an animated graph requires some technical skills. This work presents Content Management System with Animated Graph (CMS-AG). It is a webbased system enabling users to produce an effective and interactive graphical report in a short time period. It allows for three levels of user authentication, provides update profile, account management, template management, graph management, and track changes. The system development applies incremental development approach, object-oriented concepts and Web programming technologies. The design architecture promotes new technology of reporting. It also helps user cut off unnecessary expenses, save time and learn new things on different levels of users. In this paper, the developed system is described.

Keywords: Animated Graph, Content Management System.

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Authors: Mohsen Shirani, Micaela Demichela

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During the last decades, a number of food crises such as Bovine Spongiform Encephalopathy (BSE), Mad-Cow disease, Dioxin in chicken food, Food-and-Mouth Disease (FMD), have certainly inflected the reliability of the food industry. Consequently, the trend in applying different scientific methods of risk assessment in food safety has obtained more attentions in the academic and practice. However, lack of practical approach considering entire food supply chain is tangible in the academic literature. In this regard, this paper aims to apply risk assessment tool (FMEA) with integration of Human Factor along the entire supply chain of food production and test the method in a case study of Diary production, and analyze its results.

Keywords: Food Risk Assessment, FMEA, Human Factor.

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Authors: M. C. Pardo-Ferreira, J. C. Rubio-Romero, M. Martínez-Rojas

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Resilience Engineering is a new paradigm of safety management that proposes to change the way of managing the safety to focus on the things that go well instead of the things that go wrong. Many complex and high-risk sectors such as air traffic control, health care, nuclear power plants, railways or emergencies, have applied this new vision of safety and have obtained very positive results. In the construction sector, safety management continues to be a problem as indicated by the statistics of occupational injuries worldwide. Therefore, it is important to improve safety management in this sector. For this reason, it is proposed to apply Resilience Engineering to the construction sector. The Construction Phase Health and Safety Plan emerges as a key element for the planning of safety management. One of the key tools of Resilience Engineering is the Resilience Assessment Grid that allows measuring the four essential abilities (respond, monitor, learn and anticipate) for resilient performance. The purpose of this paper is to develop a questionnaire based on the Resilience Assessment Grid, specifically on the ability to learn, to assess whether a Construction Phase Health and Safety Plans helps companies in a construction site to implement this ability. The research process was divided into four stages: (i) initial design of a questionnaire, (ii) validation of the content of the questionnaire, (iii) redesign of the questionnaire and (iii) application of the Delphi method. The questionnaire obtained could be used as a tool to help construction companies to evolve from Safety-I to Safety-II. In this way, companies could begin to develop the ability to learn, which will serve as a basis for the development of the other abilities necessary for resilient performance. The following steps in this research are intended to develop other questions that allow evaluating the rest of abilities for resilient performance such as monitoring, learning and anticipating.

Keywords: Resilience engineering, construction sector, resilience assessment grid, construction phase health and safety plan.

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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.

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Authors: Manirath Wongsim, Pawornprat Hongsakon

Abstract:

Information Quality (IQ) has become a critical, strategic issue in Accounting Information Systems (AIS) adoption. In order to implement AIS adoption successfully, it is important to consider the quality of information use throughout the adoption process, which seriously impacts the effectiveness of AIS adoption practice and the optimisation of AIS adoption decisions. There is a growing need for research to provide insights into issues and solutions related to IQ in AIS adoption. The need for an integrated approach to improve IQ in AIS adoption, as well as the unique characteristics of accounting data, demands an AIS adoption specific IQ framework. This research aims to explore ways of managing information quality and AIS adoption to investigate the relationship between the IQ issues and AIS adoption process. This study has led to the development of a framework for understanding IQ management in AIS adoption. This research was done on 44 respondents as ten organisations from manufacturing firms in Thailand. The findings of the research’s empirical evidence suggest that IQ dimensions in AIS adoption to provide assistance in all process of decision making. This research provides empirical evidence that information quality of AIS adoption affect decision making and suggests that these variables should be considered in adopting AIS in order to improve the effectiveness of AIS.

Keywords: Information quality, information quality dimensions, accounting information systems, accounting Information system adoption.

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