Risk Management Requirements Research Articles

Analyze the Similarities and Differences in EPC Mode Power Engineering Between China and Other Countries from the Perspective of Risk Avoidance in Enterprises

The subject of this paper is to explore the application of the EPC model in China and other countries electric power engineering projects. Engineering Procurement and Construction Mode refers to an engineering contracting mode under the deep intersection of Engineering, Procurement and Construction, where the project contractor integrates these key activities to improve the efficiency and quality of the project and control the cost and risk. However, due to the differences in culture, market and development history between the policies of China and other countries, the EPC model applicable to China's power engineering projects is not fully applicable to power engineering projects in international cooperation, which leads to the obstruction of Chinese power enterprises in participating in the construction of international cooperation. To delve deeper into the applicability and risk management of the EPC model. This study employs methods such as case study, literature review, and comparative analysis. Considering the current market regulatory requirements for risk management requirements of power engineering project strict, increasing attention, the power engineering project risk management system, although relatively mature, but EPC mode power project as a new way of cooperation, there is still a risk identification difficulty, risk evaluation error, and many other problems, combined with EPC mode project general contractor responsibility, high risk, so further project risk research is of great significance.

Level of financial disclosures for listed insurance companies using ISO 31000: empirical evidence from Jordan and Palestine

PurposeIn light of the complex risk and transparency regulations, this paper investigates the factors influencing the level of risk management disclosure by insurance firms in Jordan and Palestine. The characteristics examined were ownership structure, which covers public, institutional and management ownership on risk management disclosure (RMD) utilizing ISO 31000, as well as profitability, leverage, liquidity and firm size.Design/methodology/approachTo achieve the aim of this study, a quantitative research methodology was used. Based on the total number of observations, 232 purposeful annual observations for the study sample were collected between 2016 and 2023 for 10 insurance companies listed on the Palestine stock exchange (Palestinian companies) with 80 observations and 19 companies listed on the Amman stock exchange (Jordanian companies) with 152 observations. This study uses panel data regression with fixed effects models. By employing the 2SLS approach, we comprehensively address the main endogeneity concerns and problems in risk management disclosure RMD of insurance firms in Jordan and Palestine.FindingsThe results show that risk management disclosure is significantly influenced by the liquidity and size of an organization. Furthermore, RMD is not significantly affected by profitability, debt, public ownership, institutional ownership or liquidity, whereas business size has a favorable influence.Research limitations/implicationsThe findings of this study may not be generalizable to firms in other countries because of the limitations of insurance firms in Palestine and Jordan. Study replication in future studies should consider the potential for bias and differences in data interpretation when utilizing qualitative methodologies to evaluate RMD.Practical implicationsThe practical implications emphasize how crucial it is for investors, practitioners and stakeholders to choose firms that are large and have little liquidity because this is linked to high levels of risk management transparency. This knowledge can offer investors an important direction for assessing possible risks and transparency in risk management within the insurance sector framework. The study recommends that the governments of Palestine and Jordan enact laws requiring risk management disclosure according to the ISO 31000:2018 standard, especially in the insurance industry.Originality/valueThis study contributes to the literature by illuminating the relationship between firm size, liquidity and risk management disclosure in insurance companies operating in Jordan and Palestine. Therefore, investors should choose large, relatively liquid companies with strong risk management disclosure. This study offers theoretical insights that may be used as a guide for other research, improving the understanding of the variables influencing risk management disclosure in insurance companies and advancing scientific understanding.

The impact of agricultural insurance on farmers’ mental health: what we can learn from the literature

AbstractThis systematic review aimed to examine evidence in the extant literature on the nexus between agricultural insurance and the mental health of farmers. The key hypothesis was that increasing access to agricultural insurance will enhance the mental and emotional well-being of farmers globally and will consequently preserve the future of agriculture, particularly as climate change exacerbates weather risk. A systematic review was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) statement. We searched several databases, including EBSCOHost Megafile, Scopus, Web of Science, PubMed (Medline) and Google Scholar, based on predetermined criteria in July 2024. We conducted a full-text review of twelve potential articles. None of the articles met the inclusion criteria and reported a clear understanding of the relationship between access to agricultural insurance and the mental health nexus. We concluded that there is no evidence to support the hypothesis that access to agricultural insurance has a positive impact on farmer’s mental health. Our hypothesis is premised on the fact that while agricultural insurance smoothens farmers’ income, this should lead to some forms of mental health advantage, but we do not have any evidence in extant literature. The lack of literature is perhaps due to the complexity of the agricultural insurance product design. We recommend studies that will provide reliably conclusive evidence on this critical issue because agriculture requires risk management tools to help farmers cope with multidimensional risks, including exacerbated weather events due to climate change.

Information Requirements for Effective Risk and Contract Management in Public-Private Partnerships: A Delphi Approach

Effective risk and contract management are crucial in Public-Private Partnerships (PPPs) and require adequate collection and utilisation of the project and financial information. Although access to sufficient information is indispensable, there is a lack of empirical literature documenting the information requirements in PPPs. This research aims to identify the information items the public party needs for effective risk and contract management in PPP projects undertaken in the construction sector. Information requirements were determined in three steps including (1) a structured literature review to identify the information items from academic studies, (2) identification of the information items currently used in the industry via expert interviews, and (3) validation of the information items via the Delphi Method, which included three rounds of consultations with 12 PPP experts. The findings present 52 qualitative project information requirements under various categories. In addition, 33 quantitative financial items were determined as essential information requirements for effective risk and contract management. The proposed information requirements were utilized to develop a qualitative risk assessment tool for the public party and its consultants to streamline structured data collection, avoid overlooking important project and financial information in risk assessment, and facilitate knowledge management in PPPs. The developed tool was tested by 21 PPP experts and found usable as a customizable knowledge-based system for qualitative risk assessment utilizing extensive project information during early risk assessment, feasibility studies, contract drafting and management in PPPs.

Ground Urban Heat Island: Strengthening the Connection Between Spaceborne Thermal Observations and Urban Heat Risk Management.

As urbanization progresses under a changing climate, urban populations face increasing threats from chronically higher heat exposures and more frequent extreme heat events. Understanding the complex urban thermal exposure patterns becomes crucial for effective heat risk management. The spatial advantage of satellite thermal observations positions surface urban heat islands (SUHI) as a primary measure for such applications at the city scale. However, satellite-inherent biases pose considerable uncertainties. To improve the representation of human-relevant heat exposure, this study proposes a simple but effective satellite-based measure- ground urban heat island (GUHI), focusing solely on radiant temperatures from urban ground elements. Leveraging ECOSTRESS land surface temperature product and radiation-based statistical downscaling, diurnally representative GUHIs were evaluated over NYC. The findings reveal that overall GUHI is consistently warmer than SUHI diurnally. However, GUHI exhibits complex spatial contrasts with SUHI, primarily influenced by vegetation coverage. Various indicators associated with urban structures and materials were examined, showing important but dissimilar roles in shaping the spatial dynamics of GUHI and SUHI. This study highlights the value of satellite thermal observations compared to air temperature while addressing uncertainties in widely adopted practices of using them. By improving the depiction of human-related urban heat patterns from Earth observations, this research offers valuable insight and more reliable measures to address the urgent requirements for urban heat risk management globally.

Transitioning a hydrogen facility from project to operations

Preparing any hazardous facility for transition from project to operations requires a rigorous management process. In the area of hydrogen operations, hazards are heightened and there are limited examples of transitioning a hydrogen facility from project to operations outside of large-scale oil refineries. This paper highlights the unique challenges of managing hydrogen process safety through the project to operate phase while maintaining safety standards that meet or exceed the expectations of the asset owner, regulator and the community in which we operate. Our experience transitioning hydrogen operations started in Queensland which has arguably the toughest engineering and safety standards in Australia. This experience has informed our methodologies and the important points of this paper detail for both owner and regulator, what to expect from the operator and what the operator will need to demonstrate compliance with. Hydrogen operations traditionally were on oil refineries which may have been in local communities, unlike remote upstream gas and oil projects far from the major populations. Refineries are typically close to transportation hubs and end users. Our experience is that hydrogen or hydrogen transport fluids such as ammonia, methylcyclohexane (MCH) and others are more likely to reside near major international ports with close access to both clean energy and available workforce which heightens the environmental, social, governance and community risk management requirements. This paper intends to inform regulators, owners and operators of the unique challenges and aspects of getting a hydrogen facility up and running in a safe and community sensitive way.

Intellectual Property Rights in Tourism Management in Cirebon

Tourism requires risk management for its sustainability. With risk management, we can prevent the peril that causes losses, especially in tourism. Looking at the current conditions, the rampant piracy cases of tourism products certainly require a strategy as a preventive measure. Especially with the development of society 5.0, of course, it makes the hazard of these risks even more significant. Moreover, it gives new exposure to tourism management. The Ministry of Tourism and Creative Economy makes a strategy to protect tourism products by collaborating with the Director General of IPR of the Ministry of Law and Human Rights and training tourism actors to carry out legal protection by owning Intellectual Property Rights (IPR). The IPR was registered with the Directorate General of Intellectual Property Rights of the Ministry of Human Rights. Tourism management in Indonesia requires instilling in the community and local tourism entrepreneurs an understanding of the importance of IPR ownership. The Ministry of Tourism and Creative Economy is intensively organizing socialization of the importance of IPR to tourism actors, which will be held in December 2021 in various cities to prevent theft of culture and tourism products to realize sustainable tourism. One of them is in Cirebon City; at the end of December, an Intellectual Property Class will contain education about IPR.

Integration of European legislative practices in risk management and solvency in the domestic insurance industry

The insurance industry of Ukraine is on the verge of significant changes associated with the integration processes into the European legal framework. It has been identified that the adaptation of domestic insurance legislation to EU Directives requires insurers to form solvency capital, taking into account the minimum capital requirements, and implement a risk-oriented approach in managing their activities. It is noted that there is a need for a gradual implementation of the legislative norms of the European Union presented in the Solvency II Directive into the domestic legislation. This is because the Ukrainian insurance sector is in a turbulent state, primarily associated with military risks, and the key uncertainty currently lies in the liabilities of insurers. The paper employs methods such as analysis, comparison, logical inference formation, and generalization based on the materials of studies by domestic and foreign scholars, as well as legislative norms. These methods are used to investigate the main legislative requirements for risk and capital management in insurance companies. Differences in the sizes of the minimum required capital for domestic and foreign companies are identified, and recommendations are provided to reduce the review periods of its absolute regulatory values defined by Ukrainian legislation, taking into account new risks. The necessity of gradually introducing European legislative innovations is substantiated, considering the peculiarities of the domestic insurance market. This is because the provisions of the Solvency II Directive impose heightened requirements on the capitalization of insurers to cover risks. A conclusion is drawn that the implementation of a risk-oriented approach will not only allow for a prompt response to identified risks but also ensure commitments to clients and enhance the financial stability of insurance companies in Ukraine. The transformation of Ukrainian insurance legislation into the European legislative field provides many positive aspects for domestic insurers to conduct their activities on an efficient, risk-free, fair and stable insurance market.

A real option budget framework for asset management funding models in higher education institutions

This study applies a novel funding model framework in contemporary decentralized responsibility center management (RCM) budget model for asset management. The novel funding model is used in real option theory which reflectes potential needs for risk management and estimate future budget requirements in an objective and quantitative manner. The framework consists of three phases: (1) cost estimation, (2) option model, and (3) funding benefit. The proposed framework is expected to enhance the capabilities for securing sufficient deferred maintenance (DeM) funding by hedging against the risks associated with the uncertainty in DeM costs in a bilateral setting. Furthermore, the funding model framework could further contribute to the methodological development of contemporary RCM models to account for their behavioral aspects under budgeting uncertainty.

COVID-19 in patients with metabolic disorders: focus on management

obesity, diabetes mellitus, cardiovascular pathologies, male gender and old age contribute to a significant worsening of the COVID-19 course and were associated with an increased risk of acute kidney injury. The study aims to define the main streams of improvement of health care of COVID-19 in patients with metabolic disorders, focusing on the risk factors, and analysing doctoral attitudes to the problems of obesity with an accent on health promotion. Research methods: systemic approach, medical-statistical, questioning, structural-logical analysis, clinical, laboratory and instrumental methods. We conducted a retrospective analysis of the medical documents of COVID-19 in-patients treated at the National Military Medical Clinical Centre “Main Military Clinical Hospital” (n=146). There were 2 groups according to the severity of COVID-19 (severe course, n= 37, non-severe – n=109). We also proposed to participate in questioning a group of doctors who were involved in the treatment of patients with COVID-19. Results. A high prevalence of diabetes and hyperglycemia in patients with a severe course of the coronavirus disease was revealed, which requires risk management both at the individual and population levels. According to the received results, majority of doctors concern on the problems of obesity and propose to take care on the preventive strategies to the patients with non-communicable diseases. Initial assessments of the clinical and laboratory data are extremely important as it could be necessary to achieve compensation of diabetes before onset of COVID-19. Health promotion of decreasing weight, giving up smoking, regular physical activity could be helpful in improvement of individual health. We propose identifying obesity as an important independent risk factor which helps in decision-making on hospitalisation of COVID-19 patients before severe respiratory insufficiency starts. Baseline creatinine should be analysed, as rapid increase serum creatinine could be associated with acute kidney injury and may need urgent renal replacement therapy while in the case of not enough resources could be challengeable and causing poor outcomes.

The outcome efficacy of the entity risk management requirements of the NIS 2 Directive

The NIS 2 Directive (2022/2555) of the European Union (EU) identifies the cybersecurity risk management requirements for essential and important entities in EU member states. The principal question we address is, how effective are the cybersecurity risk management measures of the NIS 2 Directive against cyberattacks on essential and important entities in EU member states? It was observed, through statutory interpretation and cyber kill chain model analysis, that the cybersecurity risk management measures of the NIS 2 Directive may be significantly limited in their effectiveness against cyberattacks on essential and important entities in EU member states. The limited effectiveness is primarily due to the narrow scope of the cybersecurity risk management measures, including the lack of specific measures focused on the reconnaissance phase of a cyberattack.

Import Risk Analysis of the Decapod Iridescent Virus 1 (DIV1) Applied in South Korea: Qualitative Risk Review and Institutional Improvement Plans

Decapod iridescent virus 1 (DIV1) is a dangerous new virus that causes mortality to shrimp and crayfish. This virus has been reported in China, which is a major exporter of decapods to South Korea and its neighboring countries, Taiwan and Thailand. This virus can be regarded as a pathogen with a high risk of entry into Korea. Therefore, South Korea has been conducting emergency quarantine for DIV1 since 2020, and in this study, an import risk analysis was performed following the World Organization of Animal Health and domestic laws and regulations to present scientific grounds and validity for South Korea’s DIV1 emergency quarantine. Import risk analysis was performed by hazard identification, entry assessment, exposure assessment, and consequence assessment. As a result of the import risk analysis, it was confirmed that the current DIV1 quarantine can significantly reduce the import risk. However, it was also established that the management of prawns and polychaetes intended for animal feed or bait and currently not subjected to quarantine is also required. Additionally, two species of crabs that would meet the criteria for a completely susceptible species and two species of crayfish that required surveillance of the import amount or route of exposure were also identified. In conclusion, these uses and susceptible species were designated as quarantine targets for nonhuman consumption requiring risk management and import sanitary conditions to be performed before export and after import. Finally, alternatives to reduce the cost burden of stakeholders following the introduction of the system were also presented.

Environmental and behavioural drivers of Antarctic krill distribution at the South Orkney Islands: A regional perspective

Antarctic krill (Euphausia superba) is a key species in the marine ecosystem of the Southern Ocean, but is also the target of a commercial fishery, with an important fishing ground in the South Orkney Islands region. The potential for competition for krill between predators and the fishery requires risk management strategies for the fishery, underpinned by an understanding of the key physical and behavioural drivers of krill movement and retention in target areas. Here, we present the results of a regional modelling study, combining a high-resolution ocean-sea ice model and an individual-based model parameterised for krill, to elucidate the roles of oceanographic variability and krill behaviour on patterns of transport and retention on and around the South Orkney Plateau. Simulations suggest that oceanic transport from sources around the Antarctic Peninsula is restricted by the northward flowing Antarctic Slope Current. Around the South Orkney Plateau, anticyclonic flows associated with the Weddell Front and the shelf edge transport krill rapidly towards the main fishing grounds to the northwest of the plateau. Transport onto the shelf and subsequent retention are influenced by the strength and direction of regional winds; weaker on-shelf transport and shorter retention times are associated with stronger westerly and northerly winds. The incorporation of sea-ice associated behaviour, whereby krill are moved with sea ice when sea ice is present, significantly modifies the patterns from purely oceanic transport; it reduces the influence of strong regional oceanic flows and increases transport of krill to the South Orkneys region from the Antarctic Peninsula. The inclusion of diel vertical migration also modifies predicted patterns from oceanic transport, but to a lesser extent, and moderates the impact of including sea-ice associated behaviour. We highlight the importance of understanding the behaviour of krill, including age-dependent behavioural changes in response to sea ice conditions, for modelling and management of Antarctic krill populations.

Transition from active remediation to natural source zone depletion (NSZD) at a LNAPL-impacted site, supported by sustainable remediation appraisal

Natural source zone depletion (NSZD) is increasingly being considered as a risk-management option at sites impacted with light non-aqueous phase liquids (LNAPLs). NSZD can be applied in isolation or in combination with active remediation techniques, depending on site-specific risk-management requirements. A case study of the transition from active remediation to passive NSZD is presented for a petroleum-impacted site in NW Europe. This transition was supported by multiple lines of evidence/management options, including: the introduction of institutional controls on groundwater and land-development restrictions; the results from a residual-NAPL risk assessment; monitoring to establish that the LNAPL plume is reducing in size; a LNAPL transmissivity assessment; a CO 2 equivalent assessment of remediation options; and a LNAPL recovery diminishing returns model. Through application of local sustainable remediation principles consistent with ISO/SuRF-UK sustainable remediation frameworks and tools, regulatory approval was obtained for a partial closeout of the remediation system. By the final year of operation, NSZD rates in the portion of the site on which transition to NSZD has been agreed were over three times greater than active LNAPL recovery rates (12 000 l/ha/a for NSZD; 3800 l/ha/a for active LNAPL recovery). In the remaining active remediation areas total fluids extraction currently outperforms NSZD and will be continued until a comparable point is reached when NSZD removal exceeds active remediation. At that point transition to NSZD alone will be considered as the most sustainable risk-based approach.

Architecting Digital Engineering Requirements for Risk Management & Systems Architecting

AbstractThis paper describes the risk management and system architecting digital thread within Digital Engineering (DE). It uses a systems engineering methodology that begins at source processes and ultimately provides component‐level requirements that software tools will need to satisfy to provide the risk management and system architecting digital thread capability. The risk management and system architecting digital thread is analyzed throughout each step of the systems engineering methodology. The methodology used is also presented as a way other DE digital threads can be analyzed from source processes to component‐level requirements.

RISK MANAGEMENT PRACTICES AND WORKERS SAFETY IN UNIVERSITY OF MEDICAL SCIENCES TEACHING HOSPITAL, ONDO STATE NIGERIA

Healthcare facilities play an important role in safeguarding life and ensuring well-being towards attaining Sustainable Developmental Goals (SDGs) 2030. However, healthcare organizations are harmful, requiring risk management to ensure occupational safety. This study evaluated the effect of risk management on workers’ safety at the University of Medical Sciences Teaching Hospital, Ondo State. This study utilized a qualitative research methodology with a questionnaire to collect data, analysed using descriptive and inferential statistics of regression model and Analysis of Variance (ANOVA). The results revealed a positive effect of risk management on workers' safety at the University of Medical Sciences Teaching Hospital, Ondo State. Health workers had undergone risk and safety management training and were aware of risk management practices. Incident reporting was the widely used risk management strategy, while safety training was underutilized. The lack of commitment of health workers to risk management procedures was a significant constraint. The study recommended a well-designed risk management policy and systematic employee training to promote healthy and safe working conditions for health workers.

Emergency Planning and Disaster Recovery Management Model in Hospitality—Plan-Do-Check-Act Cycle Approach

This study aims to present the impact of disasters, such as the COVID-19 pandemic, on the possibility of recovering from and mitigating such impacts. The paper proposes a new emergency planning and disaster recovery management model (EPDRM) which links the ISO 31000:2018 (Risk Management) requirements with the process approach. The model was validated through its application to ISO-certified and ISO-non-certified hotels. The analysis was performed by using an online questionnaire based on the ISO 31000:2018 requirements, where given questions were grouped into 14 categories and presented according to the PDCA (Plan-Do-Check-Act) cycle. The proposed methodology has not been used by other researchers for similar problems. Current results are especially important, because they were collected after the lockdown that had a significant impact on hospitality and tourism in the world. This paper discusses the effect of hotel properties (such as size, certification, and categorization) on the implementation level of the emergency planning and disaster recovery management model. This survey was conducted in 109 hotels in Serbia. The results show that the average level of application was 35.80%. The survey also points to the development possibilities of alternative tourisms in response to COVID-19, and whether the hotel facilities were suitable for such changes in times of increased uncertainty. The results represent the basis of scientific data for improving the national policy, especially during the recovery from a disaster such as COVID-19, as well as emergency planning activities during the pandemic. The study limitations can be identified in the small research sample and insufficient cooperation of contacted hotels as well as the willingness of hotels’ managements to participate in the study. The hotels’ managers should be aware of the implementation of emergency planning measures, and without their willingness, this cannot be achieved at any level.

Risk management of skin sensitisers: A commentary

Historically, allergic contact dermatitis (ACD) to chemicals encouraged hazard identification improvements, more sophisticated risk assessment and implementation of regulatory strategies, including banning of specific sensitising substances. The validation process applied to hazard identification methods demonstrates their accuracy; their use to characterise sensitiser potency facilitates quantitative and transparent risk assessment. Diagnostic patch testing at dermatology clinics worldwide delivers feedback showing where risk assessment/management has been insufficient or did not target the exposure of concern, thereby facilitating improvements. When urgent action to protect human health was required, regulations limited/banned, specific skin sensitisers. This can be seen in practice with the fragrance industry, a known source of ACD, thus requiring risk management, usually restrictions to limit allergy induction, and very rarely specific bans on ingredients. Experience and development of more sophisticated tools, e.g. to assess aggregate exposure from multitude of consumer product types, has led to repeated adaptation of risk assessment and promulgation of updated fragrance use limits. Although targeted control may not always lead to rapid change in the overall clinical picture, it is preferable to a blanket undifferentiated regulatory control of all sensitisers, resulting in unwarranted restrictions for many uses of no health concern, with consequent substantial socio-economic impacts.

Impact of Factors That Predict Adoption of Geomonitoring Systems for Landslide Management

Monitoring hazardous phenomena is a fundamental requirement of disaster risk management. Using new geomatic technologies integrated into complex geo information systems represents an innovative method of strengthening collaboration between stakeholder groups that aim at reducing the risk of disasters. This paper aimed to investigate the factors of adapting a geomonitoring information system for landslides in the cross-border area of Hungary, Slovakia, Ukraine, and Romania; the analysis was carried out in the case of the cross-border project, GeoSES. This study developed and empirically tested a novel UTAUT model based on the unified theory of acceptance and use of technology. PL-SEM (partial least-squares structural equation modeling) was used to test the model’s hypotheses. The data were collected by employing an online questionnaire on a target group of beneficiaries of the GeoSES project, in which the geomonitoring information system was proposed as an innovative solution to landslide management and disaster risk reduction. This study’s importance and added value reside in the theoretical and practical implications of the proposed model for predicting the beneficiaries’ adaptation of the landslide monitoring system. The results have shown that the GeoSES project beneficiaries coming from four neighboring nations are willing to utilize the integrated monitoring systems, which is one of the strengths of the collaborative efforts focused on mitigating risks and managing disasters in this region.

Towards cyber-biosecurity by design: an experimental approach to Internet-of-Medical-Things design and development

The introduction of the internet and the proliferation of internet-connected devices (IoT) enabled knowledge sharing, connectivity and global communications. At the same time, these technologies generated a crime harvest as security was overlooked. The Internet-of-Medical-Things (IoMT) generates biological information and is transforming healthcare through the introduction of internet-connected medical-grade devices that are integrated with wider-scale health networks to improve patients’ health. Many innovative ideas arise from academia; however, there is a lack of support in medical device regulation. The implementation of the current regulatory framework is limited to security risk assessment and guidance. Unfortunately, premarket risk-management requirements of current regulation do not include crime risks and a more predictive approach could help fill this gap. Crime science, or the perspective of crime as an event that can be influenced directly by its immediate environment, may encourage the biotechnology industry to design-in security and crime out. In this article, I provide a point of view of an early career researcher and medical device developer navigating the medical device regulatory pathway for the first time. I narrow the focus of this article to an assessment that is specific to current UK provisions and acknowledge the limited scope. In response to the ongoing changes in the current regulatory framework of the UK, I propose a new secure by design mechanism that can be employed by early career developers earlier in the development process of a product. Such a model can be used to systematically consider security design in devices and to understand and address potential crime risks ahead of their widespread use.