Risk Management Problems Research Articles

МОДЕЛЬ УПРАВЛЕНИЯ РИСКАМИ РАЗВИТИЯ ОПАСНЫХ ТЕХНОГЕННЫХ ПРОЦЕССОВ В ДЕЯТЕЛЬНОСТИ ВЫСОКОТЕХНОЛОГИЧНЫХ ПРОИЗВОДСТВ НА ОСНОВЕ РЕЗУЛЬТАТОВ КОНТРОЛЬНОЙ НАДЗОРНОЙ ДЕЯТЕЛЬНОСТИ

The study develops the problem of risk management for the development of hazardous technogenic processes in the activities of high-tech industries based on the results of control (supervisory) measures of regulatory bodies (on the example of control (supervisory) activities in the field of nature management).The purpose of the study is to develop and describe a risk management model for the development of hazardous technogenic processes in the activities of high-tech industries based on the results of control supervisory activities, which corresponds to a number of provisions of a risk-oriented approach in management, both on the part of enterprises and on the part of regulatory authorities. The results of the study in accordance with the set tasks include a developed system of criteria for determining the level of risk in the activities of enterprises (including high-tech ones) based on the results of control (supervisory) activities, which makes it possible to determine the degree of risk in the activities of enterprises in numerical terms, to compare enterprises by the degree of risk. The presented risk map of enterprises based on the risks identified from the results of control (supervisory) activities allows to determine the most significant risks in the enterprise's activities in order to identify priority areas of management impact. The developed risk management model for the development of hazardous technogenic processes in the activities of high-tech industries based on the formed risk map makes it possible to ensure the prediction of hazardous technogenic processes and carry out targeted control impact in order to minimize them.

Research on Neural Network Prediction Model of Whole Process Risk Management Based on Building Information Model

With the rapid development of China’s construction industry and the acceleration of urbanization, large‐scale public building projects are becoming increasingly important in urban development, and the risk management problems of them should be pay more attention to. Based on the integration of back propagation (BP) neural network and building information model (BIM) technology, this paper carries out the research on risk management process of the whole life cycle of large public buildings and identifies the risk factors of large public buildings from the application dimension and the management dimension. The risk management evaluation index system is constructed and identified, and assessment, early warning, prevention, and control of risk management are applied and analyzed throughout the process. The international large public sports center project is used as a case study to establish a BIM model, while the BP neural network risk management model is used for prediction and calculation. The results of this study show that, first, the maximum deviation rate of the output indicators of the BP neural network risk model is 3.57% in the design period (B2) and the minimum deviation rate is 0.00% in the commissioning period (B4), which verifies the reliability of the training results of the model. Second, the best effect of risk management in the whole life cycle of the building is in the investment period (B1) and the highest risk is in the construction period (B3). Last, this paper constructs a new risk management framework to realise the risk management of the whole cycle of construction projects from design to operation, which helps to improve the management level and risk response ability of construction projects and ensure the smooth and sustainable development of the whole life cycle of construction.

A tabu search heuristic for the outsourcing risk management problem in multi-echelon supply chains

A tabu search heuristic for the outsourcing risk management problem in multi-echelon supply chains

An Exploration of the Risk Management of Financial Derivatives in Chinese Commercial Banks

Financial derivatives are products based on the innovation of financial products, which can be used for risk avoidance, investment management, etc. In recent years, with the rapid development of the financial market, the development of financial derivatives has become more and more diversified in Chinese commercial banks, ushering in new development opportunities. This paper introduces financial derivatives, discusses the risk management of financial derivatives in Chinese commercial banks, and compares the financial derivatives of commercial banks in China with those in the United States. According to the analysis, it can be concluded that the existing problems in risk management include the lack of rational consumers in China's financial trading market, the unregulated market system, the high risk of purchasing financial derivatives products, and the internal management problems of Chinese banks. In view of these problems, three effective methods are proposed for optimization, namely strengthening the training of human resources, establishing a sound financial regulatory system, and enhancing the internal management of banks.

Risk Management and Decision Analysis for Construction Projects

As construction projects continue to grow in size and complexity, risk management and decision analysis are increasingly becoming critical key factors in ensuring the successful completion of projects. The special nature of construction projects requires project teams to be able to comprehensively and systematically assess and deal with potential risks to ensure that the project can be completed with high quality within the scheduled time and budget. Based on analyzing the importance of risk management in construction projects, this paper discusses in depth the current situation and problems of risk management in construction projects, and puts forward countermeasures to strengthen the risk management of construction projects, so as to improve the feasibility and success of the project.

Innovative Risk Management: Identification, Assessment and Management of Risks in the Context of Innovative Project Management

"The article aims to solve the critical problem of risk management in the context of innovative projects, which affects the competitiveness and sustainability of organizations in the modern business environment. The purpose of the article is to highlight and develop an innovative approach to risk management in innovative projects to improve their success. The article examines the theoretical foundations of risk management in the context of innovative projects, including concepts, principles, and methods of risk management. The article identifies and analyzes the key risks that arise in the process of implementing innovative projects, including technological, financial, market and organizational risks. The article proposes the development of risk assessment methods and tools in the context of innovative projects, which may include the use of analytical methods, models, and approaches to assess the probability of risk occurrence and their potential impact on projects. The article offers effective methods of risk management in innovative projects the development of proactive measures to prevent risks, the determination of control points, the implementation of backup plans, and the development of a risk monitoring and control system. The article provides practical recommendations and examples of implementing innovative risk management in the real field of innovative project management. The authors examine various aspects of risk management and offer practical recommendations for managing them effectively. The results of the study will contribute to the improvement of risk management practices in organizations engaged in innovative activities and contribute to ensuring sustainable development and competitiveness."

Information technology for managing information risks for projects of digital business transformation

In the article, the authors revealed the problem of information risk management when implementing digital technologies in business and its relevance. Today creates new challenges for businesses: gathering and storing large volumes of information, transaction history and customer base, all of which can be subject to both cyber threats and technical failures, which can lead to serious financial and reputational losses. Modern information technologies allow businesses to instantly respond to market changes and automate business processes. That is why information technologies are responsible for solving the issue of management effectiveness, in particular, management of information risks in business (detection, analysis, assessment of risks based on available data). The authors proposed the structure of information technology for information risk management of digital transformation projects in business. This structure is built on the basis of the method of anti-risk management of digital transformation projects in business and creates opportunities for the most effective implementation of project activities. The article also proposes an algorithm for filling the information database of information risk management with a description of the relevant processes. The proposed algorithm allows you to manage information risks, reducing the likelihood of threatening situations, time and costs for project implementation. Information technology is one of the effective tools in the process of solving the problems of information risk management during the implementation of digital transformation projects in business. The work presents schemes of the structure of the information base and the algorithm for filling the information database of information risk management of digital transformation projects in business.

Bidual Representation of Expectiles

Downside risk measures play a very interesting role in risk management problems. In particular, the value at risk (VaR) and the conditional value at risk (CVaR) have become very important instruments to address problems such as risk optimization, capital requirements, portfolio selection, pricing and hedging issues, risk transference, risk sharing, etc. In contrast, expectile risk measures are not as widely used, even though they are both coherent and elicitable. This paper addresses the bidual representation of expectiles in order to prove further important properties of these risk measures. Indeed, the bidual representation of expectiles enables us to estimate and optimize them by linear programming methods, deal with optimization problems involving expectile-linked constraints, relate expectiles with VaR and CVaR by means of both equalities and inequalities, give VaR and CVaR hyperbolic upper bounds beyond the level of confidence, and analyze whether co-monotonic additivity holds for expectiles. Illustrative applications are presented.

Risk management strategy and methodology of their analysis in logistics of Kazakhstan

The purpose of this article is to highlight an important topic for the developing logistics complex of Kazakhstan. The study of risk management strategies and their implications is a fundamental tool in choosing the shortest and most efficient way to develop the economy of Kazakhstan. The author proposes his personal view on the problems of risk management in Kazakhstan and possible solutions. The article is intended to supplement the existing body of knowledge in this scientific segment, thus highlighting the importance of the studied topic. The logistics industry of Kazakhstan is on the threshold of exploring various modern methods of management and business processes. The development of strategies of anti-crisis measures will prevent stagnation in the development of the industry. In parallel, the author compares the studied material with real logistics processes and events in Kazakhstan. Conducting work on mistakes is the first step in self-development. The article seeks to identify, classify risks, outline strategies to minimize the likelihood of their occurrence and, if they do occur, minimize the consequences.The conclusions of the study include recognition of the fact of imperfection in some cases of anti-crisis policy of Kazakhstan, which led to the adoption of ill-considered decisions that lead to undesirable long-term consequences. The author also considers priority, in the author’s opinion, ways to develop the logistics industry in Kazakhstan.

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The article is aimed at solving the important problem of risk management in the context of innovative projects, which affects the competitiveness and sustainability of organizations in the modern business environment. The purpose of the article is to highlight and develop an innovative approach to risk management in innovative projects to improve their success. The article examines the theoretical foundations of risk management in the context of innovative projects, including concepts, principles, and methods of risk management. The article identifies and analyzes the key risks that arise in the process of implementing innovative projects, including technological, financial, market and organizational risks. The article proposes the development of risk assessment methods and tools in the context of innovative projects, which may include the use of analytical methods, models, and approaches to assess the probability of risk occurrence and their potential impact on projects. The article offers effective methods of risk management in innovative projects the development of proactive measures to prevent risks, the determination of control points, the implementation of backup plans, and the development of a risk monitoring and control system. The article provides practical recommendations and examples of the implementation of innovative risk management in the real field of innovative project management. The authors examine various aspects of risk management and offer practical recommendations for managing them effectively. The results of the study will contribute to the improvement of risk management practices in organizations engaged in innovative activities and contribute to ensuring sustainable development and competitiveness.

The Effects of COVID-19 on Regulatory and Banking Risk Management Frameworks

As the impact of COVID-19 on people's daily lives is decreasing, its contribution to risk tol-erance in financial markets, especially banking risk management, will remain and continue to live for a long period of time. Due to the difficult economic climate, banks in particular have higher default rates, which puts the stability of the banking system at risk. The primary fo-cus of this study is on the risk management of banking systems following the outbreak of COVID-19 and identifying Basel III's implications on the function of banking crisis preven-tion. Examining both the interior and exterior banking risk supervision in European and the U.S., it can be seen why the bank insolvency incidents have not affected the global financial systems as the 2008-2009 financial crisis did. This paper demonstrates the different risks of commercial banks and summarizes the problems in risk management of commercial banks through the bankruptcy cases of Silicon Valley Bank and Credit Suisse Bank.

The problem of risk management for flight safety in the field of aviation fuel supply of air transportation

At the present stage of the development of aviation activity, there is a significant increase in aviation traffic, which in turn puts a significant burden on the supply of jet fuel to civil aviation. On average, 10.9 million tons of aviation kerosene per year are supplied to the domestic market of the country1. In Russia, a significant market share in the supply of aviation fuel is occupied by the leaders, among which now are Lukoil, Rosneft and Gazprom which all together are vertically integrated oil companies (VIOC). Along with the colossal volumes of production and supply of jet fuel, which include many technological operations, starting from the production stage to the direct delivery “to the wing” of the aircraft, the probability of production and supply of not only high quality, but also substandard jet fuel increases. Substandard fuel poses a rather serious threat during the operation of aviation equipment, being one of the many factors leading to failures of aviation equipment, aviation accidents and incidents, thereby reducing the level of flight safety. Oil refining companies, refueling complexes and airlines are interested in the safety of their activities, which have reliable systems and means to ensure it, but nevertheless substandard fuel takes place. One of the important reasons is the lack of a unified integrated flight safety system in terms of aviation fuel supply for air transportation, and therefore, it is necessary to search for new or implement existing adapted methods, solutions, systems and means to ensure the required level of flight safety.

Determining the area of a technical system stability in fuzzy sets terms

Ensuring the stability of the technical systems functioning, including those in water transport, is an important area for the application of mathematical methods, including probabilistic and mathematical-statistical methods. The stochastic nature of disturbances affecting complex systems and worsening the level of stability of the latter should be reflected in the implemented human-machine control loops. One of the directions here is the accounting and use of (usually competing) expert assessments, on the one hand, and a reasonable definition of stability indicators, a choice from a variety of possibilities, on the other hand. From a general point of view of management theory, the method of using expert assessments developed in the paper can be considered as an integral part of the risk management problem that is being developed so far, mainly for economic systems and using only financial criteria. The concept of the minimum allowable efficiency of a technical system is introduced in the paper. On its basis, an approach in which the indicator of the stability of a technical system is linked to a system-wide criterion indicator of the quality of its functioning is implemented. The corresponding mathematical model as a problem of mathemati- cal programming is formulated. Approaches to its solution including for the nonconvex multiextremal case are discussed. A feature of the proposed approach to the definition of the integral indicator of the stability of the dynamics of a technical system is the use of expert assessments in determining the probable range of changes in the controlled variables of the optimization model, implemented as a mathematical programming problem, which logically leads to the use of fuzzy set theory. With the non-linearity of the objective functions and restrictions that arise in this case, the gradient method of searching for a conditional optimum is effective.

Risk assesment as a stage of risk management in enterprise in tourism sector

Abstract Risk management is a complex process that requires company managers to have very good knowledge of its organizational structure on the one hand and on the other hand, in order to achieve a good management, it is necessary for the respective manager to have sufficient long-term experience during which the manager has monitored the processes of company management and its susceptibility and change under the influence of various factors. The overall risk management process goes through three main stages: identification of risks, analysis and assessment of risks and risk monitoring. Each stage is a compilation of complex procedures through which the problems and risks for the respective enterprise are determined and overcome. For this reason, the strictness, importance and significance of each stage cannot be accurately determined. Due to the limited scope of the article, the research is focused only on one of the main problems in risk management, namely the study of the standard deviation of the risk in the process of assessing and analyzing the risks in tourism sector enterprises. The article has the following structure: Introduction, References review, Methodology, Results and Discussion. Two hypotheses are presented for testing and research. Proving these two hypotheses through the application of the mathematical toolkit for risk assessment gives the innovativeness of the article and its authorial identity, which distinguishes it from other publications in the field of tourism sector. The obtained results of this article can serve the managers of tourism companies to improve their work in the management of hotels. The process of identifying, testing, evaluating and analyzing risks is complex, requiring managers to have sound knowledge of finance, accounting, economics and management. This article can provide them with guidance for solving specific problems and making managerial decisions about risk management.

Формирование риск-ориентированного мышления у персонала угледобывающих предприятий

One of the solutions to the problem of risk management associated with the actions of personnel of coal mining enterprises during the performance of production functions is considered — targeted development of risk-oriented thinking with the operating personnel aimed at formation of the behavior consistent with hazardous working conditions. To master risk-oriented thinking, 97 analytical and modeling seminars were held with the participation of 1884 employees of JSC «SUEK-Kuzbass». The purpose and objectives of these seminars are presented, the experience of conducting them is analyzed, and the opinions of their participants on the results obtained are given. The authors pay special attention to the methods used in conducting the seminars, the form of their conduct and content. According to the authors opinion, the main difference between these seminars and traditional ones in the methodological aspect is the use, along with the well-known techniques and methods (the «Swiss cheese» model of the cause-and-effect relationships by D. Reason, the DuPont incident pyramid or the pyramid of G.W. Heinrich (Henrich) and etc.), the author methodology «I know. I recognize. I warn». The result of the seminars was the fact that the operating personnel of the company enterprises is massively involved in the process of identifying hazardous production situations in the workplaces, identifying key factors that need to be eliminated, as well as finding simple algorithms for their own behavior that is adequate to the hazards. The main conclusion of the authors is that carried out work proved the efficiency of the formation and development of the risk-oriented thinking among the personnel of the coal mining enterprises directly engaged in the production process. The implementation of this approach, along with the traditional ways to increase the protection of personnel with technical, technological and organizational measures, will allow to reduce the manifestations of irrational behavior of the personnel regarding occupational safety and increase the effectiveness of injury risk management.

Research on Enterprise Economic Risk Management Strategies under the Downward Economic Trend

With the economic downturn, the prosperity of most industries in the market is relatively declining, and the demand is weakened. This will not only make it more difficult for enterprises to sell their products and slow down the speed of fund recovery, but also slow down the speed of collecting funds such as accounts receivable, thus bringing challenges to their own management. In modern enterprise management, enterprise economic risk management occupies an extremely important position, and the significance of economic risk management to maintaining enterprise capital chain is gradually revealed. The management of enterprises should also keep pace with the development of economy. Only in this environment, we can grasp the future development trend of economy and constantly adjust the management mode of enterprises to keep pace with the times. This paper analyzes and studies the problems of enterprise economic risk management under the downward pressure of economy, and puts forward corresponding strengthening strategies.

Имущественные и неимущественные риски в системе российского корпоративного управления

Introduction. Corporations today are the basis of any state’s economy, and within the framework of corporate governance, key strategic decisions are made that determine the fate of corporations. Accordingly, the problem of corporate governance risk management is one of the key economic problems, as it affects the interests of not only the participants of corporate relations, but also a huge number of economic agents. Theoretical analysis. The article presents the views of Russian scientists on the characteristics and classification of corporate governance risks, defines the property and non-property risks of corporate governance, considers the causes of their occurrence, as well as the mechanisms of influence on the corporation, its participants, creditors, public law entities. Also, a distinction is made between the objectively existing normal business risk and the predominantly subjective risks of corporate governance. Empirical analysis. Based on statistical data on bringing controlling persons to subsidiary liability, it is shown that the number of bankruptcies of Russian companies due to the manifestation of corporate governance risks is steadily growing. Results. The author’s typology of corporate governance risks, characterized by their relationship and interdependence is developed. Property and non-property risks of corporate governance are identified, the impact of which on the activities of Russian corporations is currently the most significant. Among them are those to which it is possible to adapt in the modern conditions of doing business. It is concluded that in the process of managing corporate risks based on the use of corporate law institutions existing in Russia and their combinations, it is impossible to nullify completely the occurrence and manifestation of the risks in question. Nevertheless, to ensure the necessary mutual control of the corporate relations subjects, limiting their ability to act in bad faith and unreasonably to the detriment of the company, is quite an achievable task.

Research on the Effectiveness Evaluation of Internal Control in Internet Enterprises: Taking Rongtai Group as An Example

With the acceleration of the global process of the Internet economy, opportunities and risks in the external environment have significantly increased. The most basic prerequisite for enterprises to seize the wave of the times is to achieve their goals, and effective internal control is the most reasonable and effective guarantee for their own operations. This article takes Guangdong Rongtai Industrial Co., Ltd. as the research object, sets internal control evaluation indicators applicable to internet enterprises, evaluates the data of Rongtai Company, identifies problems in internal environment, risk management, information and communication, internal supervision, and proposes corresponding improvement measures.

Problems of risk management in the field of information security

Objective. The purpose of the study is to collect publicly available information to identify the main problems that hinder the effective management of information security risks in the business sector.Method. The following research methods are used: systematization, description and analysis. The necessary data are formed on the basis of information obtained from the analysis of the regulatory framework and research in the field.Result. In this paper, the relevance of the issue under consideration was substantiated; the significant effectiveness of the risk-based approach in information security management was noted. The key stages of the information security risk management process were described. Next, the main problems of information security risk management for all stages of the holistic process are identified.Conclusion. The conducted research is of an overview nature. The materials presented in the paper can serve as a basis for further research on the topic, as well as for the formation of recommendations for resolving the identified problems.

Risk Management and Communication in Cultural Heritage Project: The Case of The Veit Stoss Altar in Poland

According to Project Management Institute (PMI), the largest worldwide association of project managers, effective risk communication to all stakeholders is the most critical success factor for projects. The aim of the present paper is to analyze the problem of risk management and communication in cultural heritage projects. As an example, we analyze the case of one of the largest cultural heritage endeavors in the 21st century in Poland - research and conservation of the Veit Stoss Altar in Kraków, Poland.