IO: An Interconnected Asset Ontology in Support of Risk Management Processes

2012 ◽  
Author(s):  
Henk Birkholz ◽  
Ingo Sieverdingbeck ◽  
Karsten Sohr ◽  
Carsten Bormann
Keyword(s):  
Risk Management ◽  
Management Processes

Risk Management in Elections: A Guide for Electoral Management Bodies

2021 ◽  
Author(s):  
Amy Vincent ◽  
Sead Alihodzic ◽  
Stephen Gale
Keyword(s):  
Risk Management ◽  
Cost Effectiveness ◽  
Incomplete Information ◽  
Implementation Process ◽  
Risk Awareness ◽  
Management Framework ◽  
Risk Management Framework ◽  
Electoral Cycle ◽  
Management Processes ◽  
Electoral Management Bodies

When electoral risks are not understood and addressed, they can undermine the credibility of the process and the results it yields. Electoral management bodies (EMBs) encounter numerous risks across all phases of the electoral cycle. They operate in environments that are increasingly complex and volatile and where factors such as technology, demographics, insecurity, inaccurate or incomplete information and natural calamities, create increasing uncertainty. The experiences of EMBs show that when formal risk management processes are successfully implemented, the benefits are profound. Greater risk awareness helps organizations to focus their resources on where they are most needed, thus achieving cost-effectiveness. Over the last decade it has been observed that EMBs are increasingly moving from informal to formal risk management processes. The purpose of this Guide is to lay out a set of practical steps for EMBs on how to establish or advance their risk management framework. The Guide’s chapters reflect the breadth of key considerations in the implementation process and offer basic resources to assist in the process.

scholarly journals Analysis of the Risk Management Process on the Development of the Public Sector Information Technology Master Plan

Information ◽  
2018 ◽  
Vol 9 (10) ◽  
pp. 248 ◽  
Author(s):  
Sérgio Andrade deFreitas ◽  
Edna Canedo ◽  
Rodrigo Santos Felisdório ◽  
Heloise Leão
Keyword(s):  
Risk Management ◽  
Public Sector ◽  
Information And Communication Technology ◽  
Communication Technology ◽  
Master Plan ◽  
Public And Private ◽  
The Public ◽  
Management Processes ◽  
Risk Management Process ◽  
Information And Communication

The Information and Communication Technology Master Plan—ICTMP—is an important tool for the achievement of the strategic business objectives of public and private organizations. In the public sector, these objectives are closely related to the provision of benefits to society. Information and Communication Technology (ICT) actions are present in all organizational processes and involves size-able budgets. The risks inherent in the planning of ICT actions need to be considered for ICT to add value to the business and to maximize the return on investment to the population. In this context, this work intends to examine the use of risk management processes in the development of ICTMPs in the Brazilian public sector.

Reconsidering contact risk and contractual risk management

2017 ◽  
Vol 59 (4) ◽  
pp. 504-521 ◽  
Author(s):  
Ralph Schuhmann ◽  
Bert Eichhorn
Keyword(s):  
Risk Management ◽  
Corporate Management ◽  
Corporate Risk Management ◽  
Content Type ◽  
Management Processes ◽  
Risk Management Process ◽  
Management Capacity ◽  
Risk Dimensions ◽  
Contractual Risk ◽  
Corporate Risk

PurposeThe aim of this paper is to pursue three objectives: to assess the extent to which theoretical concepts and corporate practice are reflecting the contract’s risk management dimensions; to identify ways to make full usage of the contract’s risk dimensions for risk management purposes; to overcome the isolation of the contract caused by its perception as a legal instrument by integrating its handling into the overall corporate management processes. Design/methodology/approachLiterature is analyzed regarding the contract’s roles as a source of risk and as a risk management device. Based on the relevant findings, it uses the Contractual Management Model to develop a concept that integrates all contract-related risk management processes in an enterprise. FindingsThe paper redefines the term “contract risk” in the light of modern understanding of contract functions and contract purposes. It shows that only Contractual Risk Management theory takes the management capacity of the contract fully into account. A Contractual Risk Management process is suggested which integrates all contract-related corporate management processes and aligns them to the requirements of transaction risk management and enterprise risk management. Originality/valueThe paper may guide executives to optimize corporate risk management processes through a better understanding of the risk potential of contract and of its risk management capacity. It provides a checklist of redefined contract risks as well as a concept that, for the first time, is aligning all contract-related management processes to support the corporate risk management system.

scholarly journals Inadequate stakeholder management and its effect on a coherent sinkhole risk management strategy: The case of the Merafong Local Municipality, South Africa

2016 ◽  
Vol 8 (1) ◽  
Author(s):  
Tshepo Moshodi ◽  
Christo Coetzee ◽  
Kristel Fourie
Keyword(s):  
Risk Management ◽  
Risk Reduction ◽  
Community Involvement ◽  
Stakeholder Management ◽  
Current Status ◽  
Community Stakeholders ◽  
Management Processes ◽  
Reduction Strategies ◽  
Local Municipality ◽  
Risk Reduction Strategies

The Merafong Local Municipality (MLM) has historically suffered financial and human losses because of the presence of dolomite and the consequent formation of sinkholes. There is a great need for the MLM to address the risk posed by sinkholes to ensure the continued safety of communities. However, as the risk is so pervasive, the MLM needs to coordinate their risk reduction strategies with a wide array of stakeholders in the municipality. Efficient stakeholder management is thus crucial if the sinkhole risk is to be addressed appropriately. This article reviews the current status of stakeholder management in the MLM as it pertains to the formulation of a holistic sinkhole risk reduction strategy. Findings indicate that there are serious deficiencies in the MLM’s stakeholder management relating to key risk management processes such as community involvement in risk management structures, disaster risk assessment, training and awareness, and early warning and response. Improved stakeholder management could be characterised by the following factors: improved two-way communication between the municipality and community stakeholders, fostering a relationship based upon trust and equality amongst stakeholders, participation by a wide array of stakeholder groups affected by the sinkhole risk and a mutual commitment by all stakeholders to address the risk. These factors could contribute to enhancing current and future sinkhole risk reduction strategies.

scholarly journals THE RISK MANAGEMENT SYSTEM IS A TOOL FOR THE SUCCESSFUL IMPLEMENTATION OF INTERNATIONAL MEGAPROJECTS

2020 ◽  
Vol 11 (1) ◽  
pp. 98-103 ◽  
Author(s):  
D. V. Shamin
Keyword(s):  
Risk Management ◽  
Management System ◽  
Risk Tolerance ◽  
Successful Implementation ◽  
Monitoring And Control ◽  
Risk Management System ◽  
Management Processes ◽  
Integrated Risk ◽  
Risk Management Process ◽  
Integrated Risk Management

The article is devoted to the optimization of the processes of organization and management of international megaprojects based on the formation of a risk management system.Currently, the implementation efficiency of megaprojects remains low due to the emergence of many risks at various stages of project implementation.In this connection, it is proposed to form an integrated risk management system, which implies a three-stage structure for introducing the 6 element risk management system into the project life cycle, into the main project management processes.This article substantiates the need to form a risk management system in three stages in accordance with the key elements of a risk management system: (1) Planning – the block «Objectives and environment of the project»; (2) Approval of the project – the blocks «Identification», «Classification», «Assessment of risks and risk tolerance», «Risk management plan»; (3) Monitoring and control – the block «Control and monitoring of risks».Thus, the proposed integrated risk management system provides: continuity of the risk management process based on the audit of the RMS; the ability to adjust RMS at the stage of forecasting a risk event; possibility of scenario modeling for forecasting risk reduction potential; risk management program, formed by current risks in order to increase the attractiveness of the mega-project for the investor.It is also proposed to introduce an audit of risk management processes and procedures based on an adapted methodology for the following components of the risk management system: defining events and setting goals; the internal environment of the organization; organization risk assessment; risk control tools; responding to risks; communications and information; risk monitoring.This technique allows you to take into account risks not only at the stage of project development, but also during its implementation, which ensures its feasibility, as well as an audit algorithm for risk management systems of a megaproject is developed and recommendations for improving the RMS through this tool are proposed.

scholarly journals RISK MANAGEMENT IN CUSTOMS CONTROL

2021 ◽  
Author(s):  
Anastasiia Artomova
Keyword(s):  
Risk Management ◽  
Management System ◽  
Point Of View ◽  
Main Task ◽  
Risk Management System ◽  
Management Processes ◽  
Risk Management Process ◽  
Structured System ◽  
Risk Zones ◽  
Systematic Identification

The article discusses the features of implementation a risk management system in the framework of customs control. The relevance of the problems under consideration is due to the fact that the activities of customs authorities in practice, like no other area, are directly related to various risk zones. The main task of the customs authorities is very closely intertwined with the goals of risk management. This is a systematic identification and, most importantly, prevention and leveling of risks and threats arising in various fields of activity at any stage of crossing the customs border. Customs activity in the risk management system is not only a process of identifying risks, but also a way of thinking, without which the customs authorities may not react to various situations and provide for the necessary initiatives, and this process is usually called “risk analysis”. Of particular interest in this vein is the construction of a structured system by the risk management process. This is due to the need for a clear passage of all stages of customs control of goods when crossing the customs border while meeting all standards. The unification of such a process is necessary. Clarifies the concept of risk management in relation to the customs control system from an operational and practical point of view. The article considers such elements of the risk management system as: statistics, implementation of the risk management system in various countries, the advantages of customs risk management, the process of risk management in customs control. Particular attention is paid to the benefits of customs risk management. The elements of the risk management system are highlighted; the effectiveness of risk management in customs control is assessed. Analyzed the problems of the risk management system in customs control. Particular attention is paid to the advantages of customs risk management, which are classified according to the following criteria: achievement of the organization’s goals; improved management processes; improved public and business profile. Proposals for improving the risk management system in customs control are presented.

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