Explore Risk Management Research Articles

Risk Management in Internet Consumer Finance: A Case Study of Douyin Monthly Pay

Abstract: This study aims to explore risk management in internet consumer finance, taking Douyin Monthly Pay as a case study for in-depth analysis. Risk management is particularly crucial with the rapid development of internet consumer finance. By studying the current situation of risk management in Douyin Monthly Pay, some problems and challenges can be found. This study puts forward some suggestions and conclusions through detailed case analysis. Through this research, the risk management practice in Internet consumer finance can be better understood, providing valuable references and insights for related enterprises. Given the current context of internet consumer finance development, the importance of risk management is self-evident. Through the Douyin Monthly Pay case study, specific operations and risk management challenges can be thoroughly understood, guiding the industry toward future development. The conclusions and recommendations of this study can offer certain references and insights for relevant enterprises in risk management, promoting the healthy development of the industry.

Identification of Key Risk Nodes and Invulnerability Analysis of Construction Supply Chain Networks

The construction supply chain confronts interruption risks that raise significant concerns regarding industry safety and stability. Consequently, exploring risk management strategies from both enterprise and supply chain network perspectives is crucial. This study employs complex network theory and the cascade failure model to propose a methodology tailored to the unique characteristics of the construction supply chain, facilitating the identification of key risk nodes and the conduct of invulnerability analyses. By evaluating the importance of construction enterprise nodes and their risk propagation ability during cascade failures, this method enables the comprehensive identification of key risk node enterprises within the construction supply chain network. Furthermore, this study examines and discusses strategies for enhancing network invulnerability by taking into account node capacity, load, and resilience. Empirical results indicate that the key nodes and risk nodes in the construction supply chain network are mainly located upstream and downstream, displaying specific distribution patterns. In addition to core enterprises, key risk nodes comprise some strong suppliers at the intermediary and lower tiers of the supply chain. Adjustments to node enterprise parameters like capacity, load, and resilience have diverse impacts on the invulnerability of the construction supply chain network. This study clarifies the distribution patterns of key risk nodes within the construction supply chain network and the variations in network invulnerability under particular conditions, providing valuable insights for risk management decision-making.

Innovative Model for Assessing the Level of Failure Risk in Construction and Buildings

This research explores risk management in construction projects to prevent potential failures due to natural factors or human errors. The objective is to develop a risk assessment model for failures in construction and building projects, focusing on identification, categorization, risk level determination, and model development. The research benefits encompass theoretical contributions to construction risk management, governmental policy guidelines, operational assistance in project risk management, and enhancements in the safety and quality of construction projects. This research innovates by expanding research variables, incorporating failure risk level assessments, and utilizing technological approaches. The research methodology combines quantitative and descriptive approaches, focusing on failure risk factors from service/contractor providers, consultants, and project owners. Data is obtained through literature studies, secondary data, and primary data via questionnaires. The analysis involves factor analysis, importance index, impact probability matrix, and the Partial Least Square (PLS) method for structural analysis. The research conclusion identifies failure risk factors including financial aspects, management, equipment availability, and natural impacts such as floods and earthquakes. The risk assessment model categorizes risks into high, medium, and low, enabling appropriate anticipatory measures. This model provides guidance for stakeholders to mitigate risks, improve quality, and maintain the integrity of construction projects and buildings, supporting safety and success throughout project stages. This research makes a significant contribution to construction project risk management and construction quality improvement.

Risk Management for the Petrodiesel-Biodiesel Fuel Blend Supply Chain in Indonesia

This research addresses the management of risks within inter-business unit networks, focusing on two key levels of risk mitigation: strategic and operational. Prior research primarily explored risk management within specific fuel industry units supplied by a single source. This study represents a novel approach, delving into dual-source fuel strategies and engaging various supply chain stakeholders to identify and mitigate operational risks accordingly. The research findings demonstrate that stakeholders can reduce risks through integrated planning and collaboration among business units, with government support further reducing inter-unit risks. This study’s main contribution is establishing a basis for future research in eco-friendly fuel supply chains, specifically examining the long-term viability of blending petrofuel with biofuel. This extends risk analysis to supply chain networks involving multiple business units. Moreover, this research emphasizes the significance of case studies covering end-to-end product flows in fuel blend supply, encompassing various supply chain functions. Additionally, it investigates stakeholder perceptions of operational risks associated with different business unit types, addressing potential domino effects. It highlights the importance of information technology in risk reduction through collaborative information exchange within the supply chain.

Exploring Risk Management Issues of Financial Options in China

Exploring Risk Management Issues of Financial Options in China

Using US Stock Sectors to Diversify, Hedge, and Provide Safe Havens for NFT Coins

This paper explores risk management strategies for investments in Nonfungible Token (NFT) coins through their diversification within the S&P 500 industry sectors. Given the significant decline in NFT coin values in 2022, understanding these strategies is critical for investors. This study focused on four major NFT coins (Enjin coin (ENJ), MANA, Theta coin (THETA), and the Tezos coin (XTZ)) and employed ETFs representing the major S&P 500 sectors for analysis. Dynamic conditional correlation GARCH models have been used, to estimate correlations between the NFT coins and US industry sector ETFs. Our findings showed that while most S&P 500 sectors offered diversification benefits in the pre-COVID period, all of them did during the COVID period. However, these sectors are generally weak safe havens and poor hedges. Portfolio analysis suggests an optimal NFT coin weighting of 10–30%, based on the Sharpe ratio. This study aims to pave the way for informed decision-making in the dynamic NFT market.

Tourism smallholders’ perceived risks, resilience, and response strategies in the upper reaches of the Yihe River, China

Rural tourism brings opportunities, risks and challenges to tourism smallholders. Exploring risk management strategies and capacity holds the key to strengthening household livelihood resilience and well-being in tourism-guided rural transition. By linking the sustainable livelihoods framework (SLF) and resilience thinking, a risk resilience framework was developed and employed to explore the nature of risks, levels of risk resilience, response strategies, and their interrelationship by using data from 262 households in the upper reaches of the Yihe River, China. The results showed that the tension between the market environment and low resilience shapes the main risks to the livelihood. There are significant correspondences between risk types and coping strategies. Additionally, perceived risks, livelihood resilience, and market imperfections in rural transformation jointly shaped the preferences of risk-response strategies and their variation among smallholders. The results provide abundant information for a better understanding of response strategies and future resilience building.

Bidding under uncertainty: Harsh Constructions

Learning outcomes 1. Probabilistic calculations of cost, and profit/loss using standard probability functions 2. Decision tree to find the expected monetary value (EMV) of different options. 3. Monte Carlo simulation for risk analysis. 4. Risk analysis in project management. Learning objectives Learners will be able to understand and apply the following: how to approach uncertainty in business decisions using probabilistic calculations of cost, and profit/loss using standard probability functions; how to address uncertainty in business decisions by looking forward and reasoning backward, using the decision tree technique and the EMV of different decisions; how to analyse the risk inherent in business decisions by incorporating probability distributions for all critical variables in the form of Monte Carlo simulation; and appreciation of strategic considerations in risk analysis as it applies to project management Case overview/synopsis The case describes the challenge facing Vilas Birari, the owner and chief executive of Harsh Constructions, a construction company headquartered in Nasik, India. Birari had to decide on the bid for a construction project in September of 2021, during the COVID-19 (COVID) pandemic. Due to successive waves of the pandemic, the state and federal governments announced lockdowns intermittently, causing uncertainty in costs related to labor, material and project completion. The dilemma before Birari was how to set a bid price that was not so low as to incur a loss and not so high as to lose the bid to competitors. The uncertainty made Birari’s decision-making complex. The case invites students to help Birari find an optimum bid price by using various quantitative techniques, such as Monte Carlo simulation and decision trees. Complexity academic level This case is intended for students of management at a master’s level, in an elective course on management science, which is often also known as decision science. This compact case can be positioned in the second half of the course, when exploring risk management using computer simulation as a tool. The case serves both as an introduction to using simulation to manage uncertainty as well a contrast with simpler methods that are covered earlier in the course. Supplementary material Teaching notes are available for educators only. Subject code CSS 7: Management Science.

Implementing risk management in local authorities: An exploratory case study of Moroccan municipalities

The purpose of this paper is to discuss the main challenges and obstacles that local authorities may face in implementing risk management. Interest in this issue in the public sector, and especially in local authorities, is relatively recent, and only a few studies have been performed in this area concerning some developed and emerging countries. Consequently, this research aims to explore risk management adoption and diffusion in Moroccan local authorities. To this end, a risk management model developed in our previous research was used. This model is based on a comparison of nine of the soundest risk management standards released by national and international professional bodies. A research framework was created to transpose and test this model within Moroccan local authorities. In addition, an exploratory study was carried out based on qualitative data collected from interviews with middle and high officers from four Moroccan municipalities. The results show that Moroccan local authorities are facing both strategic and operational challenges in their implementation of risk management. To overcome these challenges, key recommendations are proposed to successfully implement risk management. Accordingly, this study provides an overview of risk culture, risk awareness, and risk management practices among Moroccan local authorities. It offers a practical guide for local authorities’ stakeholders who want to promote risk culture and lay a foundation for risk management implementation.

Mexico City—Ambitions and Challenges of Integrated Risk Management in a Fractured Urban Planning Context

Among the growing number of megacities, Mexico City stands out for its size and population, but also for its challenges with respect to environmental risk management, fractured governance and marked contrasts in urban conditions. In the last couple of decades, Mexico City has been praised for pioneering new management structures for planning and policy development, driving an approach rooted in a strong social commitment and sustainability agenda, with more integrated decision-making across government institutions. Among these instruments is the recent Law of Integrated Risk Management and Civil Protection of Mexico City, which boldly steps ahead of national legislation, moving from a reactive to a precautionary approach to disaster risk under the banner of stakeholder co-responsibility. However, this paper shows that Mexico City has also been the stage of innovative policies that have been hijacked by the powerful, tainted by corruption and reinterpreted to fit financial interests, or simply abandoned with the arrival of new administrations. The efficiency of these innovative strategies has therefore thus far been limited by discretionary practices and poor communication and socialisation. Our research over the past 5 years has explored risk management processes in Mexico and Mexico City through a transdisciplinary investigation of the vulnerability to climate change-related hydro-meteorological risks in low-income urban areas, and the capacities to manage risk at the community and institutional levels. Drawing on this research, this paper describes a range of accomplishments in urban and environmental policy innovation in Mexico City in recent years with relevance to risk management, and the opportunities for learning arising from the challenges, limitations, and failures. The paper argues that, despite extensive existing knowledge of the socio-technical elements of risk in the city, in particular in relation to hydro-meteorological and seismic risks, fragmented urban development policies and institutions have contributed to increasing the vulnerability of poor communities in high-risk areas of the city. The paper concludes that addressing the challenges of integrated risk management in this fractured urban planning context will require that the recently-created institutions are adaptive, to cope with evolving socio-economic contexts and physical hazards, build strong links with academia to harness social and technical knowledge, design long-term plans integrated across tiers of government to increase coordination, and generate strong and inclusive engagement of the city’s heterogeneous communities. These elements are crucial to allow Mexico City’s ambitions of integrated risk management to survive political cycles and avoid appropriation by short-term financial interests over real risk reduction.

Managing the risks associated with remote learning project implementation

Academic institutions have faced substantial issues and difficulties since the novel coronavirus disease became pandemic. Traditional class attendance-based pedagogy rapidly became compromised, and universities were forced into alternative ways of delivering learning to students who themselves faced restrictions, even to the point of not even being able to enter the countries where they had enrolled for their studies. In the haste to implement projects for alternative learning delivery systems, there was little time to develop proactive approaches to project risk management for such implementation. By default, delivery risks were addressed re-actively, and a “lessons learned” post-implementation approach prevailed. Two case studies have been used to explore risk management practices used in alternative learning delivery environments. The findings show emerging teaching and learning dynamics in parallel with risk-managing delivery of course learning experience and content quality.

Risk Management Analysis For Sport And Recreation Industry During Novel Coronavirus Outbreak in Malaysia

The purpose of this article is to explore risk management analysis for the sport and leisure business in Malaysia during a Novel Coronavirus assault. The Wuhan Municipal Health Commission reported 27 instances on December 31, 2019 in Wuhan, China. According to reports, the virus originated in the Wuhan South China seafood market and spread around the world (Wuhan Municipal Health Commision, 2019). Until February 2020, the number of patients increased on a daily basis all across the world, including Malaysia. According to data from the Malaysian Ministry of Health, the total number of deaths is 37 as of June 6, 2020. (Ministry of Health Malaysia, 2020). The research method used is through observation from refereed sources and related to the field of sports associated with the covid pandemic 19. In addition, this study also evaluates risk management practices for the sports sector especially in the field of sports and recreation conducted in Malaysia faced of the Covid-19 pandemic until now. Various obstacles and issues related to management practices are discussed in this study. As a result of this study, we can see the sports sectors affected by the covid -19 pandemic and risk management practices that can help athletes and coaches avoid covid 19 infections during matches. Through this study as well, can be used as a reference to the sports industry and athletes during sports matches during this covid -19 pandemic.

Water-related infrastructure investments in a changing environment: a perspective from the World Bank

Abstract At present, there is a global deficit in infrastructure and the World Bank Group (WBG) is one of the major sources of financing to reduce this gap worldwide. The WBG has policies and protocols for approving investments taking into consideration financial and economic indicators while ensuring social and environmental safeguards. In recent years, these safeguards have been updated to include the effects of climate change and robustness and resilience to support climate-informed project investment decision-making. A series of tools for screening projects for climate vulnerabilities and identification of risk management options have been developed to help project teams comply with these requirements. One of these tools is the hierarchical four-phased Decision Tree Framework (DTF) that, beyond screening, helps to analyze plans and project vulnerabilities, climate-related or otherwise, using a decision scaling approach, and explore risk management options, if necessary. The four phases of the DTF are (i) project screening, (ii) initial analysis, (iii) stress test, and (iv) climate risk management. This paper reviews applications of the DTF from the climate change screening phase to non-climate uncertainty screening and decision-making for project investments and prioritization. A peek into work in progress for incorporating resilience in the decision-making process, both for projects and through projects, is also provided, as well as next steps, looking forward.

Risk Management Strategies in Salesforce Project Delivery: A Case Study Approach

In the dynamic realm of Salesforce project delivery, effective risk management is crucial to ensure successful outcomes and mitigate potential issues that could impact project timelines, budgets, and overall quality. This research paper explores risk management strategies specifically within the context of Salesforce implementations, employing a case study approach to provide a nuanced understanding of how risks are identified, assessed, and mitigated in real-world scenarios. The study begins with a comprehensive review of the theoretical foundations of risk management in project management, emphasizing its importance in Salesforce projects due to the platform's complexity and the custom nature of many implementations. It highlights common risk categories, including technical challenges, resource constraints, and stakeholder engagement issues. To provide practical insights, the paper examines three detailed case studies of Salesforce projects undertaken by different organizations. Each case study offers a unique perspective on the risk management strategies employed, from initial risk identification and assessment through to the implementation of mitigation measures and the evaluation of their effectiveness. The cases cover a range of project sizes and industries, providing a broad view of the challenges faced and the solutions implemented.

Pandemic Risk Management in Construction Projects

Construction projects undergo critical stages resulting to circumstances with high uncertainty and risk, which has been escalated by the pandemic. As the pandemic continues to overwhelm the world, its negative effects to construction industry are clearly manifested. Health and safety risks in previous studies and researchers are not risk factors that has great impact to construction industry. However, the COVID-19 pandemic significantly increases the risks that needs intensive risk management techniques to continue construction operations. This study seeks to identify emerging risks and explored risk management techniques applied by construction companies in the Philippines in light of covid-19 pandemic. Findings of the study were based from a questionnaire survey on pandemic risk management in construction projects. Questionnaires were administered based on purposive sampling. Respondents were civil engineers and architects who are directly involved in management and administration of construction projects. The data obtained were analyzed and presented through frequency table and charts. As concluded, health and safety risk are the main risks factors that has effects on cost, time and quality of construction projects. Furthermore, these risks must be managed with great effort and coordination with the government to minimize its effects. In addition, the study is essential to construction industry to mitigate and control new emerging risk to ensure successful project completion.

Perceptions and experiences of risk management by managers of residential aged care facilities: a qualitative study from Hunan Province, China

ABSTRACT Background With adverse events and injuries recurring in residential aged care facilities (RACFs), older adults’ safety in residential age care settings has attracted extensive attention from governments, researchers, and healthcare providers. Risk management is of utmost importance in reducing risks and improving the quality of care for older adults in long-term care. Although previous studies have made great efforts to explore risk management methods and technologies in RACFs, little is known about how managers identify and respond to risks in practice. Purpose This qualitative study aimed to elucidate the perceptions and experiences of managers involved in risk management in RACFs in China. Participants and methods This study used a phenomenological research design. We conducted semi-structured interviews with 13 managers across 11 RACFs in Changsha City, Hunan Province, China. Data were analysed using Colaizzi’s seven steps and NVivo 12 plus software. Results “Facilitation of an error-free culture” emerged as a central theme of managers’ perceptions of risk management. Four sub-themes were revealed, namely “creating an age-friendly physical environment,” “paying close attention to frail older adults,” “improving the competence of nursing staff,” and “building effective management programs.” Conclusion Facilitation of an error-free culture was of prime importance in risk management. Managers’ experiences can help RACFs to better manage risks, as well as provide new perspectives and approaches for RACFs to improve the quality and outcomes of care. This study developed initiatives for improving resident safety in RACFs and may foster interest in the developing these initiatives.

Risk Management as a Method of Translation Criticism

Risk management has been occupying a central place in Translation Studies in recent years. Perceiving the Source Product as a material with a number of risks moving from credibility to uncertainty to communicative ones, risk management focuses on the way the translator deals with these different risks. It has first been suggested by Anthony Pym in the field of professional translation. Some studies tried to apply this approach to translation teaching, interpreting training, and translation assessment. Hence, the present study aims at exploring risk management in the literary translation area. It tends to answer the following question: 'how can risk management approach be applied in assessing and analyzing literary translation?' The research opens with a theoretical introduction tackling the concept of risk management, the different kinds of risks, strategies of dealing with risks as well as a literature review of literary translation. Then, it sheds light on Yasmina Khadra’s translated novels (English and Arabic versions) revealing risks and the various strategies adopted by translators. Methodically, the paper adopts a qualitative method taking each example aside, analyzing it from a communicative point of view and suggesting potential alternatives.

How do risk management principles fit in with the reality of clinical midwifery?

Background Risk assessment and management has become a key focus in midwifery practice, in light of failings in maternity care. Whilst studies have explored risk management within healthcare, it has not looked at its impact on normal midwifery practice. Aim To review the literature exploring how risk management principles fit with clinical midwifery. Methods A literature search was undertaken electronically as well as a search by hand. Nine papers were identified as suitable for the literature review. Data was extracted and used to inform the themes. Findings Three themes were identified: midwives being with women; midwives and normality, and increased sensitivity to risk; and organisational risk technologies and blame. Conclusion There is a mismatch between clinical midwifery culture and risk management. Risk categorisation and increasing risk surveillance clearly have an impact on midwifery practice. However, more research is needed to explore how midwives navigate around these systems.

Quality Control for Media Digitization Projects

This article defines types of quality control and explores risk management strategies that are broadly applicable to any organization engaged in media digitization for long-term preservation. It uses the quality control system for audio and video digitization that was developed by Indiana University’s Media Digitization and Preservation Initiative to provide examples and illustrations of these ideas.

Patient perspectives of helpful risk management practices within mental health services. A mixed studies systematic review of primary research.

WHAT IS KNOWN ABOUT THE SUBJECT?: Risk in psychiatry involves harm to self or others owing to mental health difficulties, for example iatrogenic effects of treatment, self-harm, suicide and violence. Risk management is a framework to minimize risks, comprising of risk assessment, generation of risk management plans and evaluation of interventions. Literature has extensively explored risk management and presented a critique that its practices can lead to patient harm. However, there is a paucity of literature about what patients identify as helpful risk management practices, despite the potential for such patient views to ameliorate harm and improve mental health care. WHAT THIS PAPER ADDS TO EXISTING KNOWLEDGE: Interpersonal relationships with clinicians, and communication that keeps patients involved and informed of management processes, were found to be central to beneficial risk management practices, while patients having agency and autonomy to influence their participation was also important. Beneficial interpersonal relationships and connectivity in the form of patients' wider community of support were found to be influential in aiding risk management. Meaningful relationships, and particularly peer support, that maintained personal and collective identities were prevalent in the literature. WHAT ARE THE IMPLICATIONS FOR PRACTICE?: Rendering risk management more visible and accessible in practice might cultivate an openness that promotes patient participation. This includes drawing on a wider network of support, for example the patient's friends and family, as well as having advocacy utilizing peer support. Abstract Introduction Minimizing the harm that patients pose to themselves and others, due to mental health difficulties, is a central component of risk management in psychiatry. However, risk management itself can cause patient harm, but despite this and the potentially informative value of lived experience, little is known about what patients want or expect from risk management. Aim To review research and explore what patients consider beneficial in risk management practice. Method A mixed studies systematic review utilizing PRISMA guidelines, alongside a convergent qualitative design to categorize findings. Results Twelve papers were identified, generating two categories of beneficial practices: interpersonal relationships and communication with clinicians; coupled with patient agency in their own risk management. Discussion Connectivity appears important. Particularly patients feeling involved, and their voices being heard in both the identification of risks and then shaping risk management practice. Moreover, this included involvement of friends, family and peers to widen input and supportive networks beyond clinical relationships. Implications for Practice Risk management needs to be an accessible part of care, which is more inclusive of patient views and needs. The latter might also be aided by drawing on the patient's wider community in order to provide more effective support and risk management.