Risk Management System Research Articles

Multi-Criteria Decision Making for Risk Management in Quality Management Systems

This study addresses risk management in quality management systems by analyzing risk prioritization using the multi-criteria methods Decision-Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Hierarchy Process (AHP). The primary objective was to identify and evaluate key risks, considering emerging factors such as climate change, to strengthen organizational resilience in the long term. A panel of 42 experts prioritized the following risk typologies: (i) geopolitical, (ii) economic, (iii) social, (iv) technological, and (v) environmental. The results revealed an increase in the importance of geopolitical and economic risks for 2024 compared to 2020, while technological and environmental risks decreased. Additionally, risks were projected over the next 10 years, highlighting extreme climate events and biodiversity loss as the most relevant for 2034. The findings emphasize the need for a proactive approach to risk management, aligned with ISO 9001:2015 standards and its recent climate change amendment published in 2024, to adapt organizational strategies for a constantly evolving global environment and ensure long-term sustainability.

Real-time geo-decisional system for risk and disaster management in Madagascar

Abstract Climate change is intensifying extreme phenomena, and the world is increasingly vulnerable to a variety of disasters whose impacts are considerable and varied over time, from one place to another and from one community to another. Due to its geographical location, Madagascar is the most cyclone-prone country in Africa and the ninth most vulnerable country in the world. Almost every year, Madagascar is hit by cyclones, causing loss of life and property for the population. In terms of prevention, Madagascar already has an early warning system to inform the population, but during a crisis, it still lacks a decision support system for rapid, real-time intervention to minimize damage. In this paper, we propose a real-time geo-decision support system based on real-time data integration, real-time ETL and real-time cube building. In the proposed architecture, continuous data ˚ow is required for real-time data integration. The proposed real-time ETL unit is composed of the capitalization of risk analysis experiments to ensure their reusability, as well as the insertion of processing parallelization to optimize the processing time of voluminous data. The real-time SOLAP unit consists of real-time cube formation using a spatial database that stores spatio-temporal data from a given point in time, with query optimization using materialized query technology. Our prototype uses NASA’s weather data streaming service via an API. The ETL is written in a Matlab script and loads the data into a spatial database in Postgresql after processing. A web mapping application queries the constitution of a cube and displays the result for visualization.

Decadal evolution of GIS in disaster management and risk assessment

This study conducts a bibliometric analysis of the evolution of Geographic Information Systems (GIS) in disaster risk management and assessment over a 25-year period, from 2000 to 2024. Utilizing a dataset derived from academic publications indexed in prominent scientific databases, we examine the growth trajectory, thematic evolution, scholarly collaboration, and technological advancements within the field. Our findings reveal a significant increase in the volume of GIS-related research in disaster management, underscored by a shift from foundational applications toward the integration of cutting-edge computational techniques. Analysis of collaboration networks highlights the global nature of research efforts, demonstrating extensive international cooperation that transcends geographical and disciplinary boundaries. Thematic analysis indicates a progressive focus on vulnerability assessments, climate change impacts, and the incorporation of remote sensing and machine learning technologies, reflecting the field's response to emerging challenges and the dynamic landscape of disaster risk management. The study not only charts the historical development of GIS applications in this domain but also identifies key research trends, influential works, and potential future directions, underscoring the critical role of GIS in enhancing disaster resilience. This bibliometric perspective provides valuable insights into the maturation of GIS as an indispensable tool in disaster management and offers a roadmap for future research and technological innovation aimed at mitigating disaster risks and building resilient communities

Research on the Risk Management of Commercial Bank Green Bonds under the "Dual Carbon" Goals

Against the backdrop of the "carbon neutrality and carbon peak" dual carbon goals, as mentioned in relevant studies, the importance of green bonds to the sustainable development of commercial banks has become increasingly prominent and has become a key financial means to promote their green development. This is an important feature of the green finance field at the current stage of development. However, there are certain risks in using green bonds as a green financial tool at present, and these risks may stem from various factors such as market uncertainty and project complexity. Therefore, research on the risk management of commercial bank green bonds is not only an inevitable choice for commercial banks to achieve sustainable development but also a key link in ensuring China's social and economic development. The research results will have a profound impact on the financial industry and the overall economic situation. The proposal of the dual carbon goals has not only provided new opportunities for the development of green bonds, such as attracting more social capital to invest in green projects, but also provided a new direction for the risk management of commercial banks, prompting banks to shift from traditional risk assessment to comprehensive risk management that combines environmental and social factors. This paper aims to analyze the new development opportunities for commercial banks under the dual carbon goals, explore the significance of commercial bank-issued green bonds in promoting the achievement of the dual carbon goals, as well as their mutual effects, and elaborate on the specific paths through which green bonds empower the risk management of commercial banks. Meanwhile, this paper will put forward relevant development suggestions for commercial bank risk management, with the expectation of providing references for commercial banks to build exchange rate risk management systems.

Повышение конкурентоспособности отечественного сельхозмашиностроения посредством управления рисками

The study of competitiveness and risk management issues is currently relevant for many industries and areas of functioning of the agro-industrial complex, including agricultural engineering. The article calculates the level of losses of agricultural engineering enterprises caused by the disparity of economic relations in the agro-industrial complex. Based on this, an assessment is given of the direct and reverse impact of local and industry risks on the functioning of agricultural engineering enterprises, which made it possible to develop a prototype of a risk management system at agricultural engineering enterprises. The study identified the prerequisites for the formation of a harmonious and effective organizational and economic mechanism for the functioning of agricultural engineering enterprises based on a set of scientific approaches. The authors developed a conceptual scheme of the risk management system at agricultural engineering enterprises. The study resulted in proposals for improving the instruments of state regulation of the risk management system of an enterprise in the industry.

RISK MANAGEMENT IN THE FIELD OF STATE QUALITY ASSURANCE OF DEFENSE PRODUCTS: STATE OF LEGAL REGULATION AND NATO EXPERIENCE

The entry into force of NATO standards (AQAP) in Ukraine as the VST creates a regulatory basis for the functioning of a modern system of state quality assurance of defense products. It should ensure the transition from the existing system of control of defense products during production with subsequent acceptance control of already manufactured products to a system that establishes requirements for the implementation of quality management in production and control over its compliance within the framework of the execution of a defense contract. Such a transition should become a prerequisite for reducing the likelihood of risks to ensure the quality assurance of defense products. This requires improving the risk management system, in particular, optimizing approaches to their identification, assessment and substantiation of rational ways to level the identified risks. Today in Ukraine, the risk management system in the field of state quality assurance of defense products is at the stage of formation and normalization. Taking into account the orientation of the development of the Ukrainian Defense Forces towards achieving compatibility with NATO member states, it is advisable to consider the system adopted in the North Atlantic Alliance as the main guideline for the development of the risk management system. An analysis of the effectiveness of the legal support for the quality assurance system for defense products and the main principles of NATO policy on risk management in this area has been carried out. It has been established that the effective functioning of the quality assurance system for defense products in NATO countries is ensured by risk management, the basis of which is a widely known and tested management tool - the so-called risk management, the implementation norms of which are regulated by NATO standards. The system of state quality assurance of defense products in Ukraine should be based on a risk-oriented approach, the implementation of which should be synchronized with the practical implementation in Ukraine of the requirements for state quality assurance based on the NATO Quality Assurance Agreement STANAG 4107.

Learning Coupled Meteorological Characteristics Aids Short-Term Photovoltaic Interval Prediction Methods

In response to the challenges posed by renewable energy integration, this study introduces a hybrid Attention-TCN-LSTM model for short-term photovoltaic (PV) power forecasting. The LSTM captures the sequence characteristics of PV output, which are then combined with the meteorological sequence features extracted by the Attention-TCN module. The model leverages the strengths of the TCN, the LSTM, and the self-attention mechanism to enhance prediction accuracy and construct reliable prediction intervals. Aiming to optimize both performance and efficiency, the PSO algorithm is used for hyperparameter optimization. Ablation studies and comparisons with other models confirm the effectiveness, accuracy and robustness of the proposed model. This hybrid approach contributes to improved renewable energy integration, offering a more stable and reliable energy supply. Future work will focus on incorporating intelligent systems for autonomous risk management and real-time control of dynamic PV output fluctuations.

Experimental Study on Thermal Properties and Fire Risk According to Acid Value Change in Palm Oil

(1) Background: this study investigates the impact of acid value changes on the thermal degradation and fire risks of palm oil. It emphasizes the need for systematic risk management in food manufacturing and preparation processes to address safety challenges associated with high-temperature operations. (2) Methods: the study employed fire reproduction experiments, fire risk characterization tests, and thermal analyses, including differential scanning calorimetry and thermogravimetric analysis. (3) Result: higher acid values in palm oil significantly reduce smoke points, ignition points, and thermal stability, primarily due to increased free fatty acids and oxidative by-products. These effects are more pronounced in oxidative environments, highlighting the importance of controlling acid value to mitigate fire and thermal risks. (4) Conclusions: this study concludes that increased acid value in palm oil significantly reduces its thermal stability and elevates fire risks due to accelerated oxidation and thermal decomposition. It emphasizes the importance of monitoring acid value and implementing temperature control measures to enhance safety in food manufacturing and cooking processes.

Expert Usability Evaluation of a Mobile Application for Systematic Caries Management in Children and Adolescents: A Cross-sectional Study.

The field of mobile healthcare (mHealth) has attracted attention, and the quality of mHealth applications is also being addressed. Therefore, usability evaluation should be conducted to verify the quality of mHealth applications. The aim of this study was to conduct an expert evaluation to verify the systematic aspects and usability of a mobile application ("CAMBRA-students") developed to evaluate caries risk in children and adolescents and to provide systematic caries management. The expert reviewers consisted of five professionals, including two dental hygienists, one professor of dental hygiene, and two IT specialists. These experts evaluated the technical issues of the mobile application using the heuristic evaluation and the Mobile App Rating Scale (MARS). Frequency analysis was used to determine the heuristic score and MARS. As a result of the heuristic evaluation, a total of 45 comments were received, of which 23 problems were extracted. The usability evaluation for professionals resulted in an overall score of 3.64. In the subscales (engagement, functionality, esthetics, information, and application subjective quality) of the MARS, the domain "application subjective quality" received the lowest score of 2.95 and the domain "information" received the highest score of 4.18. Through expert evaluation, the "CAMBRA-students" application was improved, and the usability was modified by correcting systemic and usability issues. The "CAMBRA-students" application is expected to be used in public oral health services for students. It will contribute to improving the oral health status of adolescents using the caries risk management system. The "CAMBRA-students" application effectively manages caries risk in adolescents and has enhanced usability and systematic quality through expert evaluation, enabling personalized oral health management. It can significantly improve adolescent oral health and be integrated into school-based programs. Kang Y, Yeo A, Lee S. Expert Usability Evaluation of a Mobile Application for Systematic Caries Management in Children and Adolescents: A Cross-sectional Study. Int J Clin Pediatr Dent 2024;17(12):1370-1376.

Internal Audit Governance Factors and their effect on the Risk-Based Auditing Adoption of Commercial Banks in Jordan

IntroductionThis paper aims to explore the impact of internal audit governance factors on the risk-based auditing adoption of commercial banks in Jordan. The population targeted in this paper were managers of the accounting and finance departments in the commercial banks listed on the Amman Stock Exchange. MethodsUsing the purposive sampling method, 339 responses were obtained in the final sample, which constituted a validity rate of 73.7%. Structural equation modeling (SEM) was adopted as a statistical approach for hypotheses assessment. ResultsThe findings of this paper confirmed the positive impact of internal audit governance factors, including internal audit attributes, audit committee attributes, risk management system, and internal control system, on risk-based auditing adoption. ConclusionA set of recommendations was provided to bank managers, such as enhancing the Board's supervision and monitoring of the internal audit function's actions by encouraging Board members to grasp risk-based auditing thoughts and the value it delivers to the Bank.

Development Prospects of BRICS Countries: Regional Risk Assessment and Design of Regional Risk Management Systems

Development Prospects of BRICS Countries: Regional Risk Assessment and Design of Regional Risk Management Systems

AI-Driven Early Warning and Risk Management System for Delirium in ICU Patients

AI-Driven Early Warning and Risk Management System for Delirium in ICU Patients

Conceptual framework for advancing regulatory compliance and risk management in emerging markets through digital innovation

Emerging markets face significant regulatory compliance and risk management challenges, including economic instability, inadequate infrastructure, and rapid globalization. Digital innovation offers transformative potential to address these issues through advanced tools such as artificial intelligence (AI), blockchain, and data analytics. This paper proposes a conceptual framework for integrating digital tools into compliance systems to enhance efficiency, transparency, and scalability. The framework highlights three core components: technology adoption, regulatory collaboration, and data integration. These elements collectively streamline compliance processes, enable proactive risk management, and foster stronger relationships between businesses and regulators. While the framework offers substantial benefits, including improved accuracy and scalability, its implementation is hindered by high costs, limited infrastructure, and resistance to change. Recommendations are provided for policymakers, regulatory bodies, and businesses to overcome these barriers, including investments in digital infrastructure, regulatory sandboxes, and capacity-building initiatives. By adopting this framework, emerging markets can achieve more effective compliance and risk management systems, contributing to sustainable economic growth and global competitiveness.

Gaining Sustainable Performance through Risk Management System: Dealing with Uncertainty in Islamic Insurance Companies

Gaining Sustainable Performance through Risk Management System: Dealing with Uncertainty in Islamic Insurance Companies

An evaluation of risk management practices in South African Public Institutions

Efficient risk management within the supply chain is essential for municipal success. This study assesses the supply chain risk management procedures of the Thulamela Municipality to guarantee service delivery. The main objectives were to evaluate the municipality's risk management structure and recommend enhancements in accordance with the MFMA and King IV requirements. The study question examined the implementation of a risk management system by Thulamela to guarantee service delivery. Utilising risk management and institutional theory, the study adopted a mixed-methods approach, applying deductive thematic analysis and SPSS software to examine data regarding the municipality's risk management procedures, team expertise, and framework suitability. The findings reveal that although Thulamela possesses a supply chain risk management framework, enhancements are necessary, specifically in (i) empowering the risk management team, (ii) incorporating technology and maintaining a record of suppliers with a history of non-compliance, and (iii) augmenting staff's risk management expertise. A favourable correlation was observed among effective risk management, institutional theory, supply chain procedures, and service delivery. This report provides essential information for policymakers to improve municipal supply chain risk management. Future research may investigate the impact of technology on mitigating risks such as non-compliance, corruption, and supplier failures, and also analyse the risk management frameworks among South African municipalities.

Assessing credit risks through a scoring model with time-varying parameters

Subject. This article discusses the method of dynamic modeling, namely the building of a scoring model with time-varying parameters. Objectives. The article aims to develop a scoring model with time-varying parameters for assessing credit risks using the data of a microfinance organization as a case study. Methods. For the study, I used a critical review of the literature on the use of dynamic modeling and a combination of classical logistic regression and time series models Results. Based on the analysis of data from a microfinance organization, the article confirms that changes in independent variables may contain a trend. The obtained confirmation is evidence of the temporal dependence of true parameters when using the developed model, which indicates the high efficiency of the scoring model in the framework of assessing the credit risks of a microfinance organization. Cyclical changes in the tested target and independent variables have been empirically proven, which makes it possible to conclude that the true parameters are time-dependent within the framework of the model used. Conclusions and Relevance. The empirical experiment shows that the developed method can significantly improve the efficiency of scoring models in the implementation of a credit risk analysis system in financial institutions. A scoring model with time-varying parameters can be used in the risk management system of any financial institutions.

ANALYSIS OF PERSONNEL RISKS IN THE HOSPITALITY INDUSTRY OF THE RK

The hotel business in Kazakhstan is one of the fastest growing sectors of the economy, which has a significant impact on society. Personnel risks are among the most complex and have a wide classification. The management of these risks includes the identification, assessment and control of all internal and external factors that can negatively affect the company’s activities. To analyze human resource management in the hotel sector, taking into account personnel risks, 131 employees of various management levels were interviewed. The results showed that strategic human resource management in the studied hotels is at a low level, which negatively affects working conditions, career prospects of employees and the achievement of strategic goals. To improve the situation, it is necessary to implement a human resource management system that includes a personnel risk management mechanism. The study highlights the need to eliminate the identified problems and develop strategies for managing personnel risks, as well as creating a typical profile of such risks for hotel companies. In conclusion, the study highlights the importance of removing the identified obstacles and implementing strategies to develop methodological and practical recommendations for personnel risk management, as well as to create a typical personnel risk profile for hotel companies. Practical recommendations aimed at solving these problems and improving the personnel risk management system will help prevent and minimize personnel risks in the hotel business. Keywords: risk management, personnel risk, hotel business, human resource management, personnel risk profile.

Peran Teknologi Dalam Manajemen Risiko Dan Inovasi

The role of technology in risk management and innovation is crucial in the modern business world, where uncertainty and rapid change are key challenges. This article discusses how technology plays a role in identifying, analyzing, and mitigating risks, as well as accelerating and improving the effectiveness of the innovation process. In risk management, technologies such as big data, predictive analytics, the Internet of Things (IoT), artificial intelligence (AI), and integrated risk management systems enable organizations to monitor and address potential risks more efficiently. Meanwhile, in terms of innovation, technology supports the creation of new products and services, accelerates the development process, and opens up opportunities for global collaboration. Innovation can also introduce new business models that are more adaptive to market changes. The synergy between risk management and innovation through the use of technology helps organizations not only survive but also thrive amidst increasingly fierce challenges and competition. This article highlights the importance of technology adoption as a key to managing uncertainty and creating new value in an ever-changing business world.

Intelligent Construction Risk Management Through Transfer Learning: Trends, Challenges, and Future Strategies

Construction risk management has evolved significantly by integrating artificial intelligence (AI) technologies, particularly machine learning (ML), to enhance predictive capabilities. Transfer learning (TL), a promising subfield of ML, has the potential to further revolutionize construction safety by enabling models trained in one domain to be adapted for related tasks in construction risk scenarios. This systematic review explores the current trends in applying TL to construction risk management, identifies key challenges, and highlights future opportunities for advancement. The review first assesses TL's ability to mitigate common issues such as data scarcity, overfitting, and lengthy model training times, which often hinder traditional ML approaches. Key challenges include the complexity of domain adaptation, the lack of standardized datasets, and the need for robust validation methods. Despite these barriers, the potential for TL to improve predictive accuracy, efficiency, and cross-project learning makes it a transformative tool. Finally, future research directions are proposed to optimize TL techniques for real-time, intelligent construction risk management systems.

Efektivitas Manajemen Risiko Sumber Daya Manusia dalam Menghadapi Risiko Keamanan Data Karyawan di Sektor Teknologi

This research aims to explore the effectiveness of human resource risk management in dealing with employee data security risks in the technology sector. Given the increasing threats to information security, especially in today's digital age, this research uses a qualitative approach with systematic literature analysis of various related articles and studies. The results show that the existence of clear security policies and procedures, regular employee training, the use of appropriate technology, and an organizational culture that supports information security are key factors that influence the effectiveness of risk management. In addition, evaluation and gathering feedback from employees are important elements in adjusting policies to meet evolving security challenges. This research provides recommendations for companies in the technology sector to improve their risk management systems through the integration of comprehensive policies, effective training programs, and the implementation of advanced technology, in order to protect employee data and increase trust within the organization.