Risk Mitigation Factors Research Articles

Development of a safeguarding approach to enable people with traumatic brain injury or spinal cord injury to self-manage their supports

Introduction: The Lifetime Care and Support Authority, NSW Australia (icare lifetime care) aims to enhance opportunities for people with spinal cord injury and traumatic brain injury to have increased choice and control over the way their supports are delivered and managed. Description of policy context and objective: The objectives of this project were to: Develop a service model which provides opportunities for icare lifetime care participants to have increased choice and control over the management of their care and supports. To identify and manage risk to participants and to the scheme associated with icare lifetime care entering into direct funding agreements with an increased number of participants. Provide an approach for icare lifetime care to manage requests for direct funding by participants or their nominees, including planning for appropriate safe guarding strategies prior to approving direct funding agreements. Target population: icare lifetime care funds treatment, rehabilitation and care for people who have been catastrophically injured in a motor vehicle accident in NSW, Australia. Injuries sustained include severe traumatic brain injury, spinal cord injury, multiple limb amputations, burns and blindness. Highlights (innovation, impact and outcomes): The presentation will outline how icare lifetime care developed, and now applies, a safeguard planning approach to participant requests to manage their own supports through a direct funding arrangement. Participants may have cognitive and behavioural disability following their injury, or may have complex social histories. The safeguard planning approach considers individual participant risk and their skills to manage the tasks involved in self-management. Capacity building and other risk mitigation factors are considered as part of the plan. Comments on sustainability: The self-management service model became available for participants in late 2016. Growth is currently slow but steady. To date, 20 participants are self-managing their care, with an annual cost of $3.3mil. icare lifetime care is working with another 40 participants who are interested in moving to self-management. Comments on transferability: The presentation will explore opportunities which will support increased numbers of participants benefitting from self-management, including sharing participant stories, peer support and future online payment systems. The safeguarding approach has been successful in identifying participant risk, skills and strategies to develop capacity and to mitigate risk to participants and the scheme, enabling participants to achieve their goal of self-management. Conclusions (comprising key findings, discussion and lessons learned): icare lifetime care’s self-management service model is presented including the ways participants are currently using the service options within the model to meet their needs. The safeguarding approach will be discussed including the role of monitoring risk to ensure participants achieve successful outcomes. Case examples will be used to demonstrate the model and the application of the safeguarding approach.

Managing technical risks in PV investments: How to quantify the impact of risk mitigation measures for different PV project phases?

AbstractProject investment has been and still is a primary financial factor in enabling sustainable growth in photovoltaic (PV) installations. When assessing the investment worthiness of a PV project, different financial stakeholders such as investors, lenders, and insurers will evaluate the impact and probability of investment risks differently depending on their investment goals. Similarly, risk mitigation measures implemented are subject to the investment perspective. For the calculation of the economic impact of technical risks during PV plant operation, a method was developed to assign a cost priority number (CPN) to each failure given in €/kWp or €/kWp per year. This CPN method was introduced in the Solar Bankability Project and can be described as a cost‐based failure mode effect analysis. The methodology has been further developed for the evaluation and effectiveness of the identified mitigation measures. Risk mitigation factors are introduced, which quantify the reduction of the economic impact of technical risks, achieved via the reduction of failure occurrence or reduction of costs for fixing the failures (ie, repair of existing component, substitution by spare component, and substitution by new component).Mitigation measures were identified along the entire value chain and assigned to various technical risks. The new CPN (CPNnew) value arises from the cost‐benefit analysis by adding the CPN after mitigation to the cost of the mitigation measures. The FIXING costs for selected failures were calculated when applying combinations of 8 selected mitigation measures. The aim of this work is to create a framework of well‐defined mitigation measures, which have an impact on the global CPN (given as sum of CPNs of all technical risks). The cost‐benefit analysis can then include the combination of various mitigation measures and derive the best strategy depending on market segment and PV plant typology. In addition to this, it is important to assess in the CPN analysis who will bear the cost and the risk to derive considerations not only on the overall economic impact of the technical risks, but also on cost and risk ownership.

An exploration of factors influencing the choice of commodity price risk mitigation strategies

Most firms are exposed to price volatility associated with commodities, which can significantly affect the price paid for raw materials, energy, packaging, shipping, and component purchases. Commodity price risk represents the financial, operational and informational effects of commodity price volatility (CPV). The purpose of this paper is to contribute to the supply chain risk management literature by providing a taxonomy of commodity price risk mitigation strategies and factors that may influence the adoption of these strategies. A qualitative study was conducted using a grounded theory approach, based on case studies of companies with home operations in Italy, Germany, and the US. The paper provides some initial evidence for theory and practice as to: 1) how firms can mitigate the risk from CPV by implementing various sourcing, contracting, and financing strategies; and 2) the influence of commodity/product factors, buying organization factors, supply chain factors, and external environment factors on strategy capability and choice.

Safety for a Helicopter Load/Unload Operation on an Offshore Platform: Optimization From Several Viewpoints and the Psychological Aspects of the Marshaller

Summary When a slickline and/or an electrical wireline job is required on offshore oil/gas platforms that have no crane equipment, a helicopter load/unload operation is a common method used for transporting materials such as winch units, power-pack units, blowout-preventer (BOP) units, and lubricators from the platform or from the offshore complex to the platform. A series of materials is transported separately by helicopter so that one lifted material can be within the maximum loading capacity of the helicopter. A materials-transportation package typically consists of four or five load/unload operations for an entire set of materials. These frequent load/unload operations are performed with a hovering action, which has the highest risk among helicopter actions (i.e., taking off, cruising, and approaching/landing). To achieve safety, all risk-mitigating factors are adequately incorporated into a plan that should be shared with all crew (pilot, company supervisor, slickline/wireline operators) in advance of the operation. This paper discusses mitigations from various points of view, in addition to summarizing general safety tips. As a result of considering the psychological response of the ground crew on the basis of actual field experience, this paper recommends how to remove mental factors that silently act on the actions of a helicopter marshaller. Moreover, fundamental measures are recommended to update marshalling methods and to use new-generation helicopters that are designed for improved safety requirements.

Falls and injuries to Polo players: risk perception, mitigation and risk factors

Polo, one of the world’s oldest sports, is played in over 80 countries. It is unique in combining the skills of a person with the agility and performance of an animal in a contact sport. There is only one report of the frequency and type of injuries in this population. Here we report risk perception, mitigation and risk factors for injuries and falls in UK polo players. Data were collected retrospectively from a random sample of 112 UK polo players by telephone questionnaire. Injuries (commonly to a shoulder or wrist) requiring a hospital visit were sustained by 17.3% (95% confidence interval [CI] 9.1–25.5) of players. Falls (odds ratio [OR] 6.6, 95% CI 1.4–31.9) and higher self-assessed fitness levels increased the risk (OR 1.7, CI 1.2–2.4). Use of wrist supports (OR 0.2, CI 0.03–0.9) and gym exercise (OR 0.1, CI 0.02–0.9) reduced it. Falls were reported by 58% (CI 47.3–68.8) of players. Women were less at risk than men (OR 0.3, CI 0.1–0.9). Aiming for a better handicap increased the risk (OR 8.4, CI 1.2–57.0). Pre-season rider and horse training were also risk factors. Helmets are compulsory, but players reported that safety certification was not their most important criterion for helmet selection; 49.4% (CI 38.5–60.3) chose appearance. Attendance of a doctor at polo games was not considered important by 65.4% (CI 55.1–75.8) of players; attendance of paramedics and ambulances was volunteered as being of greater consequence. The findings of this study suggest that the protective effect of wrist supports needs testing, helmet manufacturers should incorporate both style and safety into their designs, and paramedics and ambulances should attend polo games.

Falls and Injuries to Polo Players: Risk Perception, Mitigation and Risk Factors

Falls and Injuries to Polo Players: Risk Perception, Mitigation and Risk Factors

Placement Instability as a Risk Factor in Proximal Sexually Inappropriate and Aggressive Behaviors in a Child Welfare Sample

This study examined the relationship between childhood physical abuse, sexual abuse and placement instability, and sexually inappropriate and aggressive behaviors in a child welfare sample. Sexually Inappropriate Behavior was associated with all independent variables. Sexual Aggression and Child/Male Victims were both associated with Sexual Abuse and Placement Instability. Offense Persistence was associated with Placement Instability. All risk-mitigating factors (i.e., Self-Control, Global Adjustment, and Responsibility for Behavior) were associated only with Placement Instability. The broad and robust influence of placement instability on short-term outcomes of sexually inappropriate and aggressive behavior, as well as the risk mitigating factors, was the most notable finding. Findings underscore the importance of placement stability in the development of young children.

International Study of Risk-Mitigating Factors and In-Flight Allergic Reactions to Peanut and Tree Nut

Three studies have analyzed in-flight peanut/tree nut reactions, although the studies were conducted exclusively among Americans. We studied the international in-flight experience and determined the efficacy of certain risk-mitigation strategies. A 47-question on-line survey was distributed through the websites and social media outlets of the member organizations of the Food Allergy & Anaphylaxis Alliance. Both persons reporting an in-flight reaction and nonreactors were surveyed to assess details of air travel preparation and any reported reaction. Data were analyzed to determine the association among flying behaviors, reported reactions, and nationality. We found that 349 reactions were reported among 3273 respondents from 11 countries; 13.3% received epinephrine as treatment. Flight crews were notified about 50.1% of reactions. Sixty-nine percent of all respondents reported making a preflight accommodation request, although just 55% of reactors did so compared with 71.6% of nonreactors (P < .001). Adjusted odds of epinephrine use were increased with reported gastrointestinal or cardiovascular symptoms or with notifying the crew. Passengers who requested any accommodation, requested a peanut/tree nut-free meal, wiped their tray table, avoided airline pillows or blankets, requested a buffer zone, requested other passengers not consume peanut/tree nut-containing products, or reported not consuming airline-provided food had significantly lower adjusted odds of reporting a reaction. In-flight peanut and tree nut reactions occur internationally. Epinephrine was sparsely used to treat reactions. We identified 8 risk-mitigating behaviors associated with lower odds of a reported reaction. Future study is necessary to further validate the effectiveness of these passenger-initiated risk-mitigating behaviors.

Financing petroleum projects and the impact of uncertainty

Financial institutions provide funding to the upstream oil and gas industry for a variety of projects including assisting with asset purchases, field appraisals and developments. Various uncertainties including reservoir, macro-economic and political variables are major considerations for financial institutions and have a considerable impact upon the type of finance offered for a project. The primary considerations for exploration and production (E&amp;P) companies requiring capital are the quality and stage of development of their resources. The level of resource uncertainty may be considered on a spectrum from proved developed producing reserves to contingent or prospective resources. Financial structures are designed to balance resource uncertainty with a commensurate level of return to the investor. This paper presents a brief overview of the forms of finance available, highlights how uncertainties and risks affect the type of finance provided and explores the assessment of reservoir risk through petroleum engineering and geology and geophysics. In addition to resource uncertainty, this paper also discusses other risks including project execution, commodity prices, project costs, security coverage, the political environment and country risk, and the impact of these factors on project financing. The paper will also touch upon various risk mitigation factors, including product hedging and political risk insurance.