Analytical Methods for Risk Management

Analytical Methods for Risk Management
Author: Paul R. Garvey
Publisher: CRC Press
Total Pages: 284
Release: 2008-10-20
Genre: Business & Economics
ISBN: 1420011391

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A Text on the Foundation Processes, Analytical Principles, and Implementation Practices of Engineering Risk Management Drawing from the author's many years of hands-on experience in the field, Analytical Methods for Risk Management: A Systems Engineering Perspectivepresents the foundation processes and analytical practices

Analytical Techniques in the Assessment of Credit Risk

Analytical Techniques in the Assessment of Credit Risk
Author: Michalis Doumpos
Publisher: Springer
Total Pages: 115
Release: 2018-09-29
Genre: Business & Economics
ISBN: 3319994115

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This book provides a unique, focused introduction to the analytical skills, methods and techniques in the assessment of credit risk that are necessary to tackle and analyze complex credit problems. It employs models and techniques from operations research and management science to investigate more closely risk models for applications within the banking industry and in financial markets. Furthermore, the book presents the advances and trends in model development and validation for credit scoring/rating, the recent regulatory requirements and the current best practices. Using examples and fully worked case applications, the book is a valuable resource for advanced courses in financial risk management, but also helpful to researchers and professionals working in financial and business analytics, financial modeling, credit risk analysis, and decision science.

The Owner's Role in Project Risk Management

The Owner's Role in Project Risk Management
Author: National Research Council
Publisher: National Academies Press
Total Pages: 102
Release: 2005-02-25
Genre: Transportation
ISBN: 0309181615

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Effective risk management is essential for the success of large projects built and operated by the Department of Energy (DOE), particularly for the one-of-a-kind projects that characterize much of its mission. To enhance DOE's risk management efforts, the department asked the NRC to prepare a summary of the most effective practices used by leading owner organizations. The study's primary objective was to provide DOE project managers with a basic understanding of both the project owner's risk management role and effective oversight of those risk management activities delegated to contractors.

Handbook of Safety Principles

Handbook of Safety Principles
Author: Niklas Möller
Publisher: John Wiley & Sons
Total Pages: 836
Release: 2018-02-21
Genre: Business & Economics
ISBN: 1118950690

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Presents recent breakthroughs in the theory, methods, and applications of safety and risk analysis for safety engineers, risk analysts, and policy makers Safety principles are paramount to addressing structured handling of safety concerns in all technological systems. This handbook captures and discusses the multitude of safety principles in a practical and applicable manner. It is organized by five overarching categories of safety principles: Safety Reserves; Information and Control; Demonstrability; Optimization; and Organizational Principles and Practices. With a focus on the structured treatment of a large number of safety principles relevant to all related fields, each chapter defines the principle in question and discusses its application as well as how it relates to other principles and terms. This treatment includes the history, the underlying theory, and the limitations and criticism of the principle. Several chapters also problematize and critically discuss the very concept of a safety principle. The book treats issues such as: What are safety principles and what roles do they have? What kinds of safety principles are there? When, if ever, should rules and principles be disobeyed? How do safety principles relate to the law; what is the status of principles in different domains? The book also features: • Insights from leading international experts on safety and reliability • Real-world applications and case studies including systems usability, verification and validation, human reliability, and safety barriers • Different taxonomies for how safety principles are categorized • Breakthroughs in safety and risk science that can significantly change, improve, and inform important practical decisions • A structured treatment of safety principles relevant to numerous disciplines and application areas in industry and other sectors of society • Comprehensive and practical coverage of the multitude of safety principles including maintenance optimization, substitution, safety automation, risk communication, precautionary approaches, non-quantitative safety analysis, safety culture, and many others The Handbook of Safety Principles is an ideal reference and resource for professionals engaged in risk and safety analysis and research. This book is also appropriate as a graduate and PhD-level textbook for courses in risk and safety analysis, reliability, safety engineering, and risk management offered within mathematics, operations research, and engineering departments. NIKLAS MÖLLER, PhD, is Associate Professor at the Royal Institute of Technology in Sweden. The author of approximately 20 international journal articles, Dr. Möller's research interests include the philosophy of risk, metaethics, philosophy of science, and epistemology. SVEN OVE HANSSON, PhD, is Professor of Philosophy at the Royal Institute of Technology. He has authored over 300 articles in international journals and is a member of the Royal Swedish Academy of Engineering Sciences. Dr. Hansson is also a Topical Editor for the Wiley Encyclopedia of Operations Research and Management Science. JAN-ERIK HOLMBERG, PhD, is Senior Consultant at Risk Pilot AB and Adjunct Professor of Probabilistic Riskand Safety Analysis at the Royal Institute of Technology. Dr. Holmberg received his PhD in Applied Mathematics from Helsinki University of Technology in 1997. CARL ROLLENHAGEN, PhD, is Adjunct Professor of Risk and Safety at the Royal Institute of Technology. Dr. Rollenhagen has performed extensive research in the field of human factors and MTO (Man, Technology, and Organization) with a specific emphasis on safety culture and climate, event investigation methods, and organizational safety assessment.

Risk Analysis in Engineering

Risk Analysis in Engineering
Author: Mohammad Modarres
Publisher: CRC Press
Total Pages: 408
Release: 2016-04-27
Genre: Mathematics
ISBN: 1420003496

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Based on the author's 20 years of teaching, Risk Analysis in Engineering: Techniques, Tools, and Trends presents an engineering approach to probabilistic risk analysis (PRA). It emphasizes methods for comprehensive PRA studies, including techniques for risk management. The author assumes little or no prior knowledge of risk analysis on the p

Probabilistic Risk Analysis

Probabilistic Risk Analysis
Author: Tim Bedford
Publisher: Cambridge University Press
Total Pages: 228
Release: 2001-04-30
Genre: Mathematics
ISBN: 9780521773201

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A graduate level textbook on probabilistic risk analysis, aimed at statisticians, operations researchers and engineers.

Data Analytics for Engineering and Construction Project Risk Management

Data Analytics for Engineering and Construction Project Risk Management
Author: Ivan Damnjanovic
Publisher: Springer
Total Pages: 379
Release: 2019-05-23
Genre: Technology & Engineering
ISBN: 3030142515

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This book provides a step-by-step guidance on how to implement analytical methods in project risk management. The text focuses on engineering design and construction projects and as such is suitable for graduate students in engineering, construction, or project management, as well as practitioners aiming to develop, improve, and/or simplify corporate project management processes. The book places emphasis on building data-driven models for additive-incremental risks, where data can be collected on project sites, assembled from queries of corporate databases, and/or generated using procedures for eliciting experts’ judgments. While the presented models are mathematically inspired, they are nothing beyond what an engineering graduate is expected to know: some algebra, a little calculus, a little statistics, and, especially, undergraduate-level understanding of the probability theory. The book is organized in three parts and fourteen chapters. In Part I the authors provide the general introduction to risk and uncertainty analysis applied to engineering construction projects. The basic formulations and the methods for risk assessment used during project planning phase are discussed in Part II, while in Part III the authors present the methods for monitoring and (re)assessment of risks during project execution.

Risk Assessment

Risk Assessment
Author: Marvin Rausand
Publisher: John Wiley & Sons
Total Pages: 784
Release: 2020-03-31
Genre: Mathematics
ISBN: 1119377234

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Introduces risk assessment with key theories, proven methods, and state-of-the-art applications Risk Assessment: Theory, Methods, and Applications remains one of the few textbooks to address current risk analysis and risk assessment with an emphasis on the possibility of sudden, major accidents across various areas of practice—from machinery and manufacturing processes to nuclear power plants and transportation systems. Updated to align with ISO 31000 and other amended standards, this all-new 2nd Edition discusses the main ideas and techniques for assessing risk today. The book begins with an introduction of risk analysis, assessment, and management, and includes a new section on the history of risk analysis. It covers hazards and threats, how to measure and evaluate risk, and risk management. It also adds new sections on risk governance and risk-informed decision making; combining accident theories and criteria for evaluating data sources; and subjective probabilities. The risk assessment process is covered, as are how to establish context; planning and preparing; and identification, analysis, and evaluation of risk. Risk Assessment also offers new coverage of safe job analysis and semi-quantitative methods, and it discusses barrier management and HRA methods for offshore application. Finally, it looks at dynamic risk analysis, security and life-cycle use of risk. Serves as a practical and modern guide to the current applications of risk analysis and assessment, supports key standards, and supplements legislation related to risk analysis Updated and revised to align with ISO 31000 Risk Management and other new standards and includes new chapters on security, dynamic risk analysis, as well as life-cycle use of risk analysis Provides in-depth coverage on hazard identification, methodologically outlining the steps for use of checklists, conducting preliminary hazard analysis, and job safety analysis Presents new coverage on the history of risk analysis, criteria for evaluating data sources, risk-informed decision making, subjective probabilities, semi-quantitative methods, and barrier management Contains more applications and examples, new and revised problems throughout, and detailed appendices that outline key terms and acronyms Supplemented with a book companion website containing Solutions to problems, presentation material and an Instructor Manual Risk Assessment: Theory, Methods, and Applications, Second Edition is ideal for courses on risk analysis/risk assessment and systems engineering at the upper-undergraduate and graduate levels. It is also an excellent reference and resource for engineers, researchers, consultants, and practitioners who carry out risk assessment techniques in their everyday work.

Risk Analysis of Complex and Uncertain Systems

Risk Analysis of Complex and Uncertain Systems
Author: Louis Anthony Cox Jr.
Publisher: Springer Science & Business Media
Total Pages: 457
Release: 2009-06-12
Genre: Business & Economics
ISBN: 0387890149

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In Risk Analysis of Complex and Uncertain Systems acknowledged risk authority Tony Cox shows all risk practitioners how Quantitative Risk Assessment (QRA) can be used to improve risk management decisions and policies. It develops and illustrates QRA methods for complex and uncertain biological, engineering, and social systems – systems that have behaviors that are just too complex to be modeled accurately in detail with high confidence – and shows how they can be applied to applications including assessing and managing risks from chemical carcinogens, antibiotic resistance, mad cow disease, terrorist attacks, and accidental or deliberate failures in telecommunications network infrastructure. This book was written for a broad range of practitioners, including decision risk analysts, operations researchers and management scientists, quantitative policy analysts, economists, health and safety risk assessors, engineers, and modelers.

Advanced Analytical Methods for Climate Risk and ESG Risk Management

Advanced Analytical Methods for Climate Risk and ESG Risk Management
Author: Jorge R. Sobehart
Publisher: John Wiley & Sons
Total Pages: 503
Release: 2024-08-19
Genre: Business & Economics
ISBN: 1394220111

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A holistic view on climate risk and practical ways to model and measure it Advanced Analytical Methods for Climate Risk and ESG Risk Management provides risk management professionals and other interested parties with an introduction to climate risk, a detailed history of climate change, and analytical risk management methods. Readers will gain insight on the potential impact of climate change and learn to apply a concrete three-pronged framework for risk modelling and assessment. The management of climate risk—regardless of the size of the business or of the potential loss—is also considered in detail, with discussions of risk allocation, portfolio optimization, regulatory constraints, and sustainable goal setting. The development of advanced risk management analytical methods for ESG and climate risk is limited. This book fills a gap by offering a comprehensive review of modelling theory and methods for addressing the accelerating changes to the planet's climate. Gain thorough background knowledge of climate science, the history of climate change, and the current political and public policy landscape Understand how global climate shifts introduce localized impacts to business Identify, measure, and manage financial and operational risks Utilize a concrete methodology for stress testing portfolios and accounting for risk Risk management professionals in financial institutions, along with academics and advanced students of economics and finance, will be grateful for this comprehensive approach to climate and ESG risk. Regulators will also benefit from the thorough considerations outlined in Advanced Analytical Methods for Climate Risk and ESG Risk Management.