Implementation Of Risk Management Research Articles

Measuring community flood resilience and associated factors in rural Malawi

AbstractWith global estimates showing an increasing trend in flooding and its adverse effects on communities and population health, resilience is presented as a concept with potential to help integrate disaster risk management, sustainable development, and climate change adaptation concerns. Resilience research and practice have conceptual and empirical challenges of how to understand, characterize and measure resilience, particularly at community level. Using a multidimensional framework, this paper takes a systems approach to understanding, characterizing, and measuring community flood resilience. Through cluster analysis, bivariate methods and multivariable‐adjusted binary logistic regression modeling, we developed a context and hazard specific construct of community flood resilience and investigated its predictor variables. The factors defining the community flood resilience construct captured the community needs to withstand disasters through purpose‐built infrastructure, early warning systems for preparedness and utilization of local human capacity for adaptation. These results strengthen the previous arguments for utilizing a comprehensive multidimensional framework for resilience analysis. Access to services for improved health and psychosocial well‐being was significantly associated with the three‐item measure of being more flood resilient. Additionally, a strong sense of place and resistance to relocation were presented as key elements of resilience, maintaining community system function, and preserving livelihoods. The study further found that these key factors would not be adequate to guarantee community flood resilience outside the transformative capacity of a well‐resourced village civil protection committee that can prepare and mobilize stakeholders in response to flood emergencies. Our results suggest that, in the context where policymakers seek to strengthen resilience of communities without relocating them, a focus on public health and on strengthening and utilizing local capacities as adaptation, are key in disaster risk management policymaking and implementation. For the international research community, this study demonstrated the importance of utilizing context and hazard specific measures for defining, characterizing, and measuring resilience to inform policy.

Awareness, compliance and implementation of disaster risk reduction and management in flood-prone public elementary schools in Butuan city, Philippines

Awareness, compliance and implementation of disaster risk reduction and management in flood-prone public elementary schools in Butuan city, Philippines

Implementation of Enterprise Risk Management in Medium-Sized Priority Sector Companies in East Java

Enterprise Risk Management (ERM) has the benefit of enhancing organizational effectiveness, risk reporting, and improving business performance. The maturity measurement of ERM implementation is crucial in deducing risk management conditions and disparities within the company as means to achieve a more targeted ERM pursuance, one which is beneficial in assessing the company's condition. This study used sixteen criteria of ERM Maturity Models, to measure the maturity level of ERM implementation carried out by medium-sized industrial companies in priority sectors in East Java. Data were obtained from 137 company directors or managers of Medium Industry companies dispersed across 38 districts/cities in East Java among 6 priority sectors. Results showed that 43.5% and 46.6% of companies that experienced sales growth and an increase in net profit, respectively, are companies with optimal implementation of ERM. Meanwhile, 67% of companies that underwent a decline in sales performance and net profit turned out to be companies with weaker ERM implementation levels.

Risk Management in the Development of a Regional Drinking Water Supply System

Clean water services are a vital need that must be provided to support the dynamics of regional growth. Infrastructure development, such as the provision of drinking water, is considered as one of the policy instruments for economic development, marked by the development of industries, settlements, regional expansion and the increasing need for drinking water. The checklist technique was used by researchers to obtain information from respondents about the application or implementation of risk management. The objective of this research is to identify risk management in the development of the Pasigala Regional Drinking Water Supply System (SPAM), Central Sulawesi Province. This type of research is a case study. This checklist consists of three parts, each of which is used to obtain data on risk identification, risk analysis, and risk treatment. From the analysis, 6 risks fall into the high category, these risks are that the quality of drinking water is not as expected, the Water Treatment Plant (WTP) has never functioned according to the planned capacity, the raw water transmission pipe is not in accordance with the minimum standard / technical specifications, the design raw water production units that have not been able to overcome turbidity due to sedimentation, natural disasters in the location area, and damage to the ecosystem around water sources.

Pedoman Risiko, Struktur Risiko, dan Asesmen Risiko PT XYZ Tahun 2022-2023

PT XYZ is a multinational professional services company specializing in business management, information technology, and outsourcing. Implementing risk management considered less optimal is marked by the absence of a risk management role in the organization structure. These risk management guidelines are not under the ‘best practice’ and are followed by the presence of risks that often occur in the internal and external environment, indicating that it is necessary to carry out a risk assessment to reduce the impact of the risks arise. This qualitative research aims to determine guidelines, structures, and risk assessment of PT XYZ. This study identifies 21 corporate risks derived from four categories; strategic risk, financial risk, operational risk, and externality risk, with categories of four very high risks, eight high risks, four moderate risks, three low risks, and two very low risks. Based on the proposed risk treatment, there are two ways of risk treatment that PT XYZ can do, including risk reduction and risk acceptance. The risk treatment can be carried out as soon as possible to avoid and minimize the risks that may occur.

Planning the appropriate Risk Response Strategies by Exploring and Prioritizing the Risk Categories in International Projects

The industries are expanding their business into new foreign markets as a result of the globalization. It is very essential for the companies to understand the risks involved with the international projects for sustained competitiveness and growth in global market. The purpose of this paper is to present an overview of research on various risk categories associated with international projects and the barriers to effective risk management through a systematic literature survey. The findings derived from the evaluation of the publications analyzed have led to the identification of 17 different types of risk categories associated with the international projects in various sectors of industries and 10 different barriers to effective risk management. The success of risk management in the international projects will be based on proper identification of risks, application of appropriate risk management methodology and proactive leadership to overcome the barriers to effectively implement risk management. The risk categories were verified and ranked through the feedbacks from more than 25 Project professionals and the response strategies have been suggested.

Impact of Implementation of Information Security Risk Management and Security Controls on Cyber Security Maturity (A Case Study at Data Management Applications of XYZ Institute)

Information security is an important concern for governments and industry due to the increase in cyber attacks during Covid-19. The government is obliged to maintain information security in implementing an Electronic-Based Government System following Presidential Regulation of the Republic of Indonesia Number 95 of 2018. To overcome this problem, the XYZ Institute needs an approach to implementing information security risk management and information security controls. This study aims to risk identification, risk analysis, risk evaluation, risk treatment, risk acceptance, risk control, and analysis of cyber security maturity gaps in the domain of governance, identification, protection, detection, and response. ISO/IEC 27005:2018 as guidance for conducting risk assessments. The code of practice for information security control uses the ISO/IEC 27002:2013 standard and assessing maturity using the cyber security maturity model version 1.10 developed by the National Cyber and Crypto Agency of the Republic of Indonesia. The results show that the cyber maturity value increased from 3.19 to 4.06 after implementing 12 new security controls.

ANALISIS MANAJEMEN RISIKO PEMBIAYAAN PRODUK CICIL EMAS PADA BANK SYARIAH MANDIRI KANTOR CABANG PEMBANTU BOGOR JALAN BARU

concerning Implementation of Risk Management for Islamic Commercial Banks (BUS) and Sharia Business Units (UUS), and the solutions provided to the risks that occur at BSM KCP Bogor Jalan Baru. This study uses a qualitative approach, with the type of qualitative descriptive research. The data used in this study were obtained from observations at the research site, direct interviews with relevant sources at BSM KCP Bogor Jalan Baru. The results of this research show: First, the application of risk management for gold installment financing products at BSM KCP Bogor Jalan Baru is carried out in 4 stages, namely: identification, measurement, monitoring, and risk control. Second, the implementation of risk management carried out by BSM KCP Bogor Jalan Baru is in accordance with POJK Number 65/POJK.03/2016. Third, the highest risk that occurs in gold installment financing products is credit or financing risk, so the solution is that banks must pay more attention to the risk identification stage, especially analysis on the 5C aspect.

MANAJEMEN RISIKO KEUANGAN BANK PADA KASUS PENEMPATAN DANA NASABAH DI MAYBANK

Riskmanagement is a series of procedures or methods used to identify, measure, monitor and control risks arising from the bank's business activities. The implementation of risk management will provide better benefits to banks. For banks, the implementation of this risk management can increase shareholder value, as well as provide an overview to bank managers about the possibility of losses on the part of the bank in the future. Related to a problem or case that occurs in the banking world, one of which is a reporting case of losing money worth 20 billion rupiah which was lost because it was stored in a bank. This case was reported by a customer of PT Bank Maybank Indonesia Tbk (Maybank Indonesia) named Winda Lunardi (Winda Earl) an esports athlete who claimed to have lost 20 billion rupiah worth of money in his personal Maybank account and his mother named Floletta. In this study obtained the results of research from observations and documentation related to forms of risk management and factors that cause fraud at Maybank Cipulir Jakarta, the types of risks arising from this case are Operational Risk, Compliance Risk, Legal Risk, and Reputation Risk. The impact caused when there are various kinds of risks, namely Loss and Loss of Customer Trust.

The Risk Management System as an Enhancement Factor for Investment Attractiveness of Russian Enterprises

The business environment is characterized by a high degree of uncertainty and risk. This primarily requires using resources additional to those that can be obtained from profit. The purpose of the study is to assess the impact of a risk management system on the investment attractiveness of an enterprise. Structurally, the study consisted of three stages. At the first stage of the study, the selected information was grouped depending on the type of documents. The first group included statistical data, indicating the source of the data obtained. The second group of documents included scientific research on the characteristics of the risk management system at enterprises and investment attractiveness. At the second stage of the study, an analysis of enterprises was carried out with the calculation of a correction factor, which determined the possibility of obtaining a loan. At the third stage, an indicator of the effectiveness of the risk management complex was determined. The authors revealed two classes of factors influencing the decision to issue borrowed funds, namely, the parameters of the very enterprise and the parameters of the financed project. It is proposed to divide each of the presented classes into three groups: general reports; consolidated data on the personnel, management, and owners of the enterprise; and reports directly related to risk management. Expert analysis of the identified additional factors influencing the decision to issue borrowed funds supported the conclusion that the group of factors that directly relate to the risk management system has the greatest impact. The analysis of the correspondence of the number of points scored by enterprises according to existing methods and adjusted considering the effects of the identified additional factors gave reason to state that the presence of well-established risk management increases the investment attractiveness of the enterprise. It is revealed that using the methodology for assessing the effectiveness of risk management based on the ratio of the difference in the financial capabilities of the enterprise and the costs of risk management, reduced by the amount of expected damage after the implementation of risk management to the difference in the financial capabilities of the enterprise and the costs of risk management, allows for increasing the investment attractiveness of such enterprises as the Moscow Plant of High-Voltage Fittings JSC and the Moscow Instrumental Plant JSC.

Risk Management Status in Iran University of Medical Sciences From the Perspective of its Administrative Staff

Background & Aims Risk management in academic research, courses, and degrees is crucial in universities. However, there is no evidence for risk management in most aspects of university management. This study was conducted to determine the risk management Evaluation from the Staff's Perspective of Iran University Medical Sciences In 2021. Materials & Methods This is a descriptive cross-sectional study. The research samples were 224 staff of the Iran University of Medical Sciences selected by the available sampling method. The data collection tool was a risk management questionnaire. Risk management was classified into six dimensions. The first dimension is related to the level of employees' knowledge of risk management. The second dimension of risk management status. The third dimension includes policies and procedures. The fourth dimension is related to training status. The fifth dimension was the position of risk management, and finally, the sixth one was monitoring, analysis, evaluation, and risk control. In total, the questionnaire was examined in 45 questions on a 5-point Likert scale and was classified into three levels: poor (score less than 3), moderate (score 3 to 4), and good (score more than 4). The data were analyzed using SPSS software, version 26. The numerical indices of minimum, maximum, Mean±SD for the quantitative variables of the research were used. Friedman test was used to examine the relationship between domains and independent t-test, and analysis of variance and Pearson correlation coefficient was used to investigate the relationship between individual variables and risk management. Results The results showed that most employees (59.4%) were women and the majority (48.7%) were 45-36 years old. The majority of employees (72.8%) were married. Most of the participants (54.4%) worked in administrative headquarters. More than half of the employees (53.1%) had a university degree at the undergraduate level, and only 12.5% of them had completed risk management courses. The results showed that the total score of risk management was 2.44±0/82. The Friedman test result showed a statistically significant relationship between employees' knowledge of risk management and all areas of risk management (p = 0.00). Statistical tests showed that risk management had a statistically significant relationship with the variables of gender (P = 0.02), risk management (P<0.001), and education (P=0.02). The mean score was higher in men than women, and also in employees who had passed the risk management course was higher than other employees. Two-to-two Tukey comparison also showed that the average score obtained by employees with master's degree education was significantly higher than an associate degree (P=0.03). At other levels, this difference was insignificant. Conclusion The results showed that, generally, from the perspective of the Iran University of Medical Sciences staff, risk management at this university is poor. In this regard, the development of educational programs, the adoption of policies and procedures, and the establishment of monitoring programs to implement risk management should be seriously pursued at the university.

IDENTIFIKASI RISIKO KONSTRUKSI PADA PEKERJAAN STRUKTUR BAJA WORKSHOP PT. INKA BANYUWANGI DENGAN METODE ANALYTICAL HIERARCHY PROCESS (AHP)

Railway factory PT. Industri Kereta Api (Persero) in Banyuwangi was built by PT. Adhi Karya (Persero) Tbk. as the main contractor. The main construction used in the project is a steel structure (pre-engineered steel building). The work is not free from the emergence of risks, because of the significant weight of the work carried out. Risk cannot be eliminated, but it can be minimised by implementing risk management. One of the risk management processes is risk identification. This research aims to identify the possible risks that can occur, and the category of emergency for the project. Data were collected by distributing questionnaires to four respondents, namely the contractor’s project manager. Furthermore, the data from the questionnaire was processed using the Analytical Hierarchy Process (AHP) method to find the risk weights. The analysis process is continued by assessing the risk level for each sub-risk variable, and the most significant result is considered the dominant risk. The identification resulted in 3 high risks, three medium risks, and 18 low risks. The three most increased risks are as follows: the availability of materials with a weight of 2.581, the transfer of potential senior workers with a weight of 0.989, and changes in the work schedule with a weight of 0.779.

Building an effective personnel risks management system of the organization

The object of this study is a technique to reduce the personnel risks of an organization operating in a developing country under difficult conditions in order to improve the efficiency of staff. The form of ownership of the organization is state-owned, the number of employees is 120 people. The duration of the period for assessing the effectiveness of staff work and monitoring the impact of personnel risks on the organization is 4 weeks. It has been established that the organization has an integrated personnel risk management system. It enables fulfilling an average of 74 % of tasks and is not effective. Given this, an integrated personnel risk management system was developed based on the European approach. For this purpose, using technology transfer, information was obtained on the functioning of an effective personnel risk management system. After that, it was improved taking into consideration the peculiarities of the functioning of the organization when performing tasks. In addition, hard- and soft-skills of personnel were taken into consideration, thus, the complex effect of factors increasing the organization's resilience to personnel risks was taken into account. To implement the personnel risk management system in the organization's activities, a road-map was developed. Duration of implementation – 3 weeks. To assess the effectiveness of an integrated system for combating personnel risks, a comparative method was used for the qualitative and quantitative effectiveness of the tasks of 4 teams of the organization. Two of them worked according to the standard personnel risk management system, and 2 – according to the implemented one. The comparison was performed with the available data on the effectiveness of identical tasks for a period of 4 weeks. It has been established that the implemented comprehensive risk management system is effective, as it provides 100 % fulfillment of tasks under difficult conditions. The developed system can be used to improve the effectiveness of the tasks set for organizations in developing countries.

The Institutionalization and Processual Elements of Operational Risk Management as a Best Practice in a Government-Linked Organization: A Case Study in Malaysia

Operational risk management practice varies from one organization to another. There is no consistency in its implementation. This has caused misinterpretation, half-hearted implementation which eventually, denies the full function of its capabilities to support a business operation. Previous studies have provided limited exposure in finding on the best practice of operational risk management implementation. To fill the gap, this study aimed to uncover and explore how operational risk management is institutionalized within an organization and the best practice from a primary GLC in Malaysia. An extended case study approach by Burawoy (1998) was adopted. The primary data from 42 semi-structured interviews were analyzed using thematic analysis. The study found seven processual stages which the case company underwent to institutionalize risk management and regarded as the best practice of operational risk management implementation that supports business operations. Namely, strong leadership and obtaining external consultancy, setting the apparatus and assignment of tasks to the person in charge, risk framework, risk diagnostics, monitor and measure, developing and nurture a risk management culture, and consistent risk management enforcement and monitoring. These are regarded as a best practice by similar organizations in its sector. Keywords: case study, institutionalization, operational-risk-management

The Effects of Knowledge Sharing Culture on IT Risk management Performance

The paper aims to develop a model for comprehensive implementation of IT risk management (ITRM) from risk-related knowledge of involved stakeholders. The literature review indicated a need to gain a greater understanding of the effectiveness ITRM process. This qualitative study adopts a subjectivist epistemology, complemented with an interpretive paradigm and inductive reasoning. The findings provide new insights in relation to ITRM implementation by considering knowledge sharing. The outcomes of this research are expected to benefit practitioners and researchers through exploring key factors that can facilitate stakeholders to share their knowledge from an IT project to another.

Risk management in higher education research: a systematic literature review

PurposeThe growing uncertainty in the world because of economic factors, political issues, natural disasters, global COVID-19 outbreak and technological advancements, make effective risk management (RM) an essential successful strategy for various industries, especially higher education (HE) industry to overcome uncertainties for success. The purpose of this systematic literature review (SLR) is to present a current overview of RM in HE from 2005 to 2021, with a focus on common risk management practised in HE industry, antecedents towards RM implementation and outcomes of RM.Design/methodology/approachThe publication standard for this SLR was RepOrting Standards for Systematics Evidence Syntheses. Scopus, one of the most prominent scientific databases, was used to select articles. Only articles from the years 2005 to 2021 were studied. This study focussed on RM in the HE industry.FindingsThis review identified three main themes: common risk management practised in HE industry, antecedents towards RM implementation and outcomes of RM. An additional ten sub-themes were derived from the three main themes.Originality/valueThis paper systematically reviewed developments of RM research in HE from year 2005 to 2021, leads to a clearer understanding of RM issues in HE institutions. The findings allow interested parties to better understand RM and enables top management to create their own personalised list of drivers and implementation policies to respond to risks and uncertainties.

Safe launch of a robotically assisted mitral valve repair program in a single center: experience of initial 20 cases under the Center for Minimally Invasive Surgery.

Robotically assisted mitral valve repair was approved by the Japanese government in April 2018. However, understanding robotic surgery involves steep learning curves of surgeons and dedicated cardiac teams. The Center for Minimally Invasive Surgery (CMIS) of Tottori University Hospital is a multidisciplinary organization established in 2011 with seven surgical departments. In this study, we report strategies for improving the safety of robotic surgery in the CMIS and early results of robotic mitral valve repair at our hospital. We reviewed the first 20 patients who underwent robotic primary mitral valve repair, including concomitant procedures, from October 2019 to September 2021 under the supervision of the CMIS. Before starting the program, the CMIS requires setting console time limit to 180min and implementing risk management strategies through simulation training for various mechanical failures. Mitral valve repair was completed in all patients. There was no in-hospital or 30-day mortality. No conversion to median sternotomy was necessary. The analysis of mitral pathology revealed 1 case of functional mitral regurgitation, 12 cases of posterior lesions, 3 cases of anterior lesions, 3 cases of bileaflet lesions, and 1 case of commissural lesion. The average cross-clamp time was 133 ± 27min. Sixteen cases had trace mitral regurgitation postoperatively, and 4 cases had mild mitral regurgitation. The median (interquartile range) postoperative hospital stay was 10 (8.5-12.5) days. Robotically assisted mitral valve repair was performed safely with assistance from the multidisciplinary CMIS, and the early results were satisfactory without compromising clinical outcomes.

Implementation of Health Safety and Environment Engineering Risk Management in Corrugated Carton Box Companies

Occupational Health and Safety (OHS) risk management is an effort made to manage the risks of work accidents to minimize the risk of work accidents in a company. The aim and target of OHS risk management is to create an OHS system in the work environment that involves all parties, so as to reduce the number of workplace accidents and create a safe workplace. Therefore, it is necessary to conduct further research on the implementation of the OHS risk management system in the company. In this research, identification and analysis of accident risk have been successfully carried out, as well as making suggestions for risk mitigation in a company in the corrugated carton box sector. In addition, work accident investigations have also been carried out to determine the cause of a work accident and detect latent sources of hazards that were not detected in the risk identification process.

Risk Assessment for a Twin-Screw Granulation Process Using a Supervised Physics-Constrained Auto-encoder and Support Vector Machine Framework.

Quality risk management is an important task when it pertains to the pharmaceutical industry, as this is directly related to product performance. With the ICH Q9 guidelines, several regulatory bodies have encouraged the pharmaceutical industry to implement risk management plans using scientific and systemic approaches such as quality-by-design to asses product quality. However, the implementation of such methods has been challenging as assessment of risks requires accurate quantitative models to predict changes in quality when variations occur. This study describes a framework that quantitatively assesses risk for a twin screw wet granulation process. This framework consists of a physics-constrained autoencoder system, whose outputs are constrained using physics-based boundary conditions. The latent variables obtained from the auto-encoder are used in a support vector machine-based classifier to understand the granule growth behavior occurring within the system. This framework is able to predict the process outcomes with 86% accuracy and classify the granule growth regimes with a true positive rate of 0.73. Based on the classification the risk associated with the process can be estimated.

Soundness Level of the Regional Development Banks Using REGC Method During COVID – 19 Pandemic

The COVID-19 Pandemic has been the main challenge for the banking industry, which functions as financial intermediation and one of the pillars supporting economic development. The study employs the REGC (Risk Profile, Earnings, Good Corporate Governance, Capital) method to investigate the soundness level of regional development banks in eastern Indonesia during the Covid-19 Pandemic. The type of research in the study is a descriptive method with a quantitative approach. The object of this research is eight regional development banks in eastern Indonesia. The financial statements, such as the Balance Sheet and the Income Statement from 2020 to 2021, will be analyzed. The study finds that during the COVID-19 pandemic, all banks showed good soundness, reflected in composite rankings 1 and 2. Banks must improve the efficacy of their risk management and governance implementation to enable the bank to identify problems sooner and implement appropriate and faster improvements to make it more resilient in the face of crises, so the bank can keep maintaining excellent performance to support the development of eastern Indonesia, which is the main focus of national development.