Risk management has become a much- discussed topic in the outdoor education literature in recent years, and a number of approaches to it have been proposed. When I started my career in outdoor education the term risk management had not yet entered the vocabulary. We did, though, talk about safety planning and its prime aim was the protection of program participants from harm. The term ‘risk m…
This article presents some practical insights and challenges encountered during the implementation of major IT projects in the government sector in Arab countries. The primary purpose of this article is to point out the identified pitfalls to the existing body of knowledge from a practitioner’s standpoint, as many of the articles published in this regard are published by vendors, consultants,…
There are strong motivating factors for increased awareness and action with regard to Enterprise Risk Management (ERM). Effective ERM policies and practices are lauded to increase stakeholder confidence, competitive advantage and ultimately an organization’s long-term viability. However previous studies suggest that the concept is poorly understood in practice and organizations are failin…
Title: The Risk Management Function in the Financial Sector - How Independent are Chief Risk Officers in Swedish Banks? Seminar date: 2012.05.30 Course: Master thesis in business administration, 30 University Credit Points (30 ECTS). Authors: Maria Helmersson, Patricia Pålsson Advisor/s: Håkan Jankensgård Five key words: Enterprise Risk Management (ERM), Chief Risk Officer (CRO), Ri…
The primary objective of this report is to provide DOE project directors with a basic understanding of both the risk management role of an owner’s representative member of a project management team and the knowledge needed for effective oversight of risk management activities that are delegated to contractors. The report also discusses the roles and responsibilities of senior managers and pro…
There is a prejudice abroad, to some extent, against agitating the questions—"What shall we eat? What shall we drink? and Wherewithal shall we be clothed?"—not so much because the Scriptures have charged us not to be over "anxious" on the subject, as because those who pay the least attention to what they eat and drink, are supposed to be, after all, the most healthy. It is not difficult t…
The current management is not possible without strategic thinking. Strategic management is a mean of modern management, focused on changes and amendments to be made in the organization and within its interactions with the environment in which it operates. There are a lot of benefits of practicing strategic management. Scale studies conducted on this subject showed that companies which apply …
Corporate governance has grown in importance due to the poor financial state of affairs of many companies in the past decade. Good corporate governance is perceived to increase firm value because it may help to reduce agency problems and build investors‘ confidence. Moreover, it is perceived that good corporate governance not only reduces the risk of fraud and corporate collapse, but also cre…
This text has taken almost two years to put together and the concept of enterprise risk management (ERM) for small and medium-sized enterprises (SMEs) goes back even further with the inception of the Goldenson Center for Actuarial Research at the University of Connecticut in 2008. While the idea for the text was originated by the work done at the Goldenson Center—the development of ERM for sm…
The main objective of this paper is to review the evolution of management theory, overview of strategic management theory and its linkage with the resource-based view (RBV) of the firm’s competitive advantage. A review of the relevant literature was conducted and a connection between management theory, strategic management theory and competitive advantage from the RBV of the firm was iden…
Safety seems so easy – just make sure people don’t get hurt. In practice it is a lot harder to achieve a safe organisation that is capable of sustained safe performance in the face of significant hazards. This paper will examine the role of systematic management systems in helping to ensure that organisations become safe and stay that way. The possession of a management system, no matter ho…
Development and reinforcement of a general management point of view-the capacity to view the firm from an overall perspective, in the context of its environment. Development of an understanding of fundamental concepts in strategic management: the role of the general manager, the levels and components of strategy, competitive analysis, and organizational evolution. Development of those skills…
Abstract In the paper we detail the reduced form or hazard rate method of pricing credit default swaps, which is a market standard. We then show exactly how the ISDA standard CDS model works, and how it can be independently implemented. Particular attention is paid to the accrual on default formula: We show that the original formula in the standard model is slightly wrong, but more importa…
The healthcare industry abounds in print (and multimedia) resources on the topic of qual- ity. A Google search for “healthcare quality books” yielded 19.3 million results in 0.21 seconds—a mind-boggling figure. Some of the results don’t refer to books, and many are repetitive, but their plenitude can’t be ignored. Despite the large number of healthcare qual- ity books available, relat…
Over the past decade, a large (and continually increasing) number of efforts (both research and development) have sought to investigate and exploit the use of Artificial Intelligence (AI) concepts and techniques in production management applications. In some cases, Al-based concepts have provided frameworks for making traditional Operations Research (OR) techniques more accessible and usable…
The American Academy of Actuaries’ Catastrophe Management Work Group was requested by the Coordinating with Federal Regulators Subgroup on Financial Issues of the National Association of Insurance Commissioners to develop a report to discuss how property and casualty insurers manage catastrophe risks. This monograph is in response to that request and makes the following observations: n C…
Preface The Project Risk Management Process, described herein, is intended to result in the effective management of project risks and opportunities during the entire project life cycle – from project inception to completion of construction. The project manager, project sponsor, and project team members jointly develop a risk register that enables them to identify, assess, quantify, prepar…