To meet the needs of today, engineered products and systems are an important element of the world economy, and each year billions of dollars are spent to develop, manufacture, operate, and maintain various types of products and systems around the globe. This book integrates and combines three of those topics to meet today's needs for the engineers working in these fields. This book provides a single volume that considers reliability, maintainability, and safety when designing new products and systems. Examples along with their solutions are placed at the end of each chapter to test readers' comprehension. The book is written in a manner that readers do not need any previous knowledge of the subject, and many references are provided. This book is also useful to many people, including design engineers, system engineers, reliability specialists, safety professionals, maintainability engineers, engineering administrators, graduate and senior undergraduate students, researchers, and instructors.

The Environmental Management Revision Guide: For the NEBOSH Certificate in Environmental Management is the perfect revision aid for students preparing to take their NEBOSH Certificate in Environmental Management. As well as being a handy companion volume to Brian Waters' NEBOSH-endorsed textbook Introduction to Environmental Management, it will also serve as a useful aide-memoire for those in environmental management roles. The book aims to: Provide practical revision guidance and strategies for students Highlight the key information for each learning outcome of the current NEBOSH syllabus Give students opportunities to test their knowledge based on NEBOSH style questions and additional exercises Provide details of guidance documents publically available that students will be able to refer to. The revision guide is fully aligned to the current NEBOSH syllabus, providing complete coverage in bite-sized chunks, helping students to learn and memorise the most important topics. Throughout the book, the guide refers back to the Introduction to Environmental Management, helping students to consolidate their learning.

Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with a particular focus on understanding the nexus between risk, uncertainty, knowledge and performance. The book argues that there is critical need for ERM concepts, principles and methods to adapt to the latest and most influential risk management developments, as there are several issues with outdated ERM theories and practices; problems include the inability to effectively and systematically balance both opportunity and downside performance, or relying too much on narrow probability-based perspectives for risk assessment and decision-making. It expands traditional loss-based risk principles into new and innovative performance-risk frameworks, and presents fundamental risk principles that have recently been developed by the Society for Risk Analysis (SRA). All relevant statistical and risk concepts are clearly explained and interpreted using minimal mathematical notation. The focus of the book is centered around ideas and principles, more than technicalities. The book is primarily intended for risk professionals, researchers and graduate students in the fields of engineering and business, and should also be of interest to executive managers and policy makers with some background in quantitative methods such as statistics.

Assessment of risk and uncertainty is crucial for natural hazard risk management, facilitating risk communication and informing strategies to successfully mitigate our society's vulnerability to natural disasters. Written by some of the world's leading experts, this book provides a state-of-the-art overview of risk and uncertainty assessment in natural hazards. It presents the core statistical concepts using clearly defined terminology applicable across all types of natural hazards and addresses the full range of sources of uncertainty, the role of expert judgement and the practice of uncertainty elicitation. The core of the book provides detailed coverage of all the main hazard types and concluding chapters address the wider societal context of risk management. This is an invaluable compendium for academic researchers and professionals working in the fields of natural hazards science, risk assessment and management and environmental science, and will be of interest to anyone involved in natural hazards policy.

This highly original book aims to broaden the discussion about risk, the management of risk and regulation, especially in the financial industry. By using terms of the philosopher Jacques Derrida, Peter Pelzer employs philosophical concepts to enrich the understanding of what risk is about and what is necessarily excluded in contemporary risk management.

Since the mid-1990s risk management has undergone a dramatic expansion in its reach and significance, being transformed from an aspect of management control to become a benchmark of good governance for banks, hospitals, schools, charities and many other organizations. Numerous standards for risk management practice have been produced by a variety of transnational organizations. While these many designs and blueprints are accompanied by ideals of enterprise, value production, and good governance, it is argued that the rise of risk management has also coincided with an intensification of auditing and control processes. The legalization and bureacratization of organizational life has increased because risk management has created new demands for proof and evidence of action. In turn, these demands have generated new risks to reputation.
In short, this important book traces the rise of the managerial concept of risk and the different logics and values which underpin it, showing that it has much less to do with real dangers and opportunities than might be thought, and more to do with organizational accountability and legitimacy.

In every decision problem there are things we know and things we do not know. Risk analysis science uses the best available evidence to assess what we know while it is carefully intentional in the way it addresses the importance of the things we do not know in the evaluation of decision choices and decision outcomes. The field of risk analysis science continues to expand and grow and the second edition of Principles of Risk Analysis: Decision Making Under Uncertainty responds to this evolution with several significant changes. The language has been updated and expanded throughout the text and the book features several new areas of expansion including five new chapters. The book's simple and straightforward style-based on the author's decades of experience as a risk analyst, trainer, and educator-strips away the mysterious aura that often accompanies risk analysis. Features: Details the tasks of risk management, risk assessment, and risk communication in a straightforward, conceptual manner Provides sufficient detail to empower professionals in any discipline to become risk practitioners Expands the risk management emphasis with a new chapter to serve private industry and a growing public sector interest in the growing practice of enterprise risk management Describes dozens of quantitative and qualitative risk assessment tools in a new chapter Practical guidance and ideas for using risk science to improve decisions and their outcomes is found in a new chapter on decision making under uncertainty Practical methods for helping risk professionals to tell their risk story are the focus of a new chapter Features an expanded set of examples of the risk process that demonstrate the growing applications of risk analysis As before, this book continues to appeal to professionals who want to learn and apply risk science in their own professions as well as students preparing for professional careers. This book remains a discipline free guide to the principles of risk analysis that is accessible to all interested practitioners. Files used in the creation of this book and additional exercises as well as a free student version of Palisade Corporation's Decision Tools Suite software are available with the purchase of this book. A less detailed introduction to the risk analysis science tasks of risk management, risk assessment, and risk communication is found in Primer of Risk Analysis: Decision Making Under Uncertainty, Second Edition, ISBN: 978-1-138-31228-9.

Health and Safety: Risk Management is the clearest and most comprehensive book on risk management available today. This newly revised fifth edition takes into account new developments in legislation, standards and good practice. ISO 45001, the international health and safety management system standard, is given comprehensive treatment, and the latest ISO 9004 and ISO 19011 have also been addressed. The book is divided into four main parts. Part 1.1 begins with a basic introduction to the techniques of health and safety risk management and continues with a description of ISO 45001. Part 1.2 covers basic human factors including how the sense organs work and the psychology of the individual. Part 2.1 deals with more advanced techniques of risk management including advanced incident investigation, audit and risk assessment, and Part 2.2 covers a range of advanced human factors topics including human error and decision making. This authoritative treatment of health and safety risk management is essential reading for both students working towards degrees, diplomas and postgraduate or vocational qualifications, and experienced health and safety professionals, who will find it invaluable as a reference.

This book discusses how to collect data and analyze databases in order to map risk zones, and contributes to developing a conceptual framework for coastal risk assessment. Further, the book primarily focuses on a specific case study: the Bay of Bengal along the southeastern coast of India. The dramatic rise in losses and casualties due to natural disasters like wind, storm-surge-induced flooding, seismic hazards and tsunami incidence along this coast over the past few decades has prompted a major national scientific initiative investigating the probable causes and possible mitigation strategies. As such, geoscientists are called upon to analyze the coastal hazards by anticipating the changes in and impacts of extreme weather hazards on the Bay of Bengal coasts as a result of global climate change and local sea-level change.

This book provides a comprehensive demonstration of risk analysis as a distinct science covering risk understanding, assessment, perception, communication, management, governance and policy. It presents and discusses the key pillars of this science, and provides guidance on how to conduct high-quality risk analysis. The Science of Risk Analysis seeks to strengthen risk analysis as a field and science by summarizing and extending current work on the topic. It presents the foundation for a distinct risk field and science based on recent research, and explains the difference between applied risk analysis (to provide risk knowledge and tackle risk problems in relation to for example medicine, engineering, business or climate change) and generic risk analysis (on concepts, theories, frameworks, approaches, principles, methods and models to understand, assess, characterise, communicate, manage and govern risk). The book clarifies and describes key risk science concepts, and builds on recent foundational work conducted by the Society for Risk Analysis in order to provide new perspectives on science and risk analysis. The topics covered are accompanied by cases and examples relating to current issues throughout. This book is essential reading for risk analysis professionals, scientists, students and practitioners, and will also be of interest to scientists and practitioners from other fields who apply risk analysis in their work.

Christian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants' own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.

"Foundations of Risk Analysis" presents the issues core to risk analysis - understanding what risk means, expressing risk, building risk models, addressing uncertainty, and applying probability models to real problems. The author provides the readers with the knowledge and basic thinking they require to successfully manage risk and uncertainty to support decision makin"g." This updated edition reflects recent developments on risk and uncertainty concepts, representations and treatment.

""New material in "Foundations of Risk Analysis "includes: An up to date presentation of how to understand, define and describe risk based on research carried out in recent years. A new definition of the concept of vulnerability consistent with the understanding of risk.Reflections on the need for seeing beyond probabilities to measure/describe uncertainties. A presentation and discussion of a method for assessing the importance of assumptions (uncertainty factors) in the background knowledge that the subjective probabilities are based on A brief introduction to approaches that produce interval (imprecise) probabilities instead of exact probabilities.

In addition the new version provides a number of other improvements, for example, concerning the use of cost-benefit analyses and the As Low As Reasonably Practicable (ALARP) principle.

"Foundations of Risk Analysis" provides a framework for understanding, conducting and using risk analysis suitable for advanced undergraduates, graduates, analysts and researchers from statistics, engineering, finance, medicine and the physical sciences, as well as for managers facing decision making problems involving risk and uncertainty.

A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to fail Finance plays a key role in the prosperity of the modern world-but it also brings grave dangers. We seek to manage those threats with a vast array of sophisticated mathematical tools and techniques of financial risk management. Too often, though, we fail to address the greatest risk-the peril posed by our own behavior. Jon Danielsson argues that critical risk is generated from within, through the interactions of individuals and perpetuated by their beliefs, objectives, abilities, and prejudices. He asserts that the widespread belief that risk originates outside the financial system frustrates our ability to measure and manage it, and the likely consequences of new regulations will help alleviate small-scale risks but, perversely, encourage excessive risk taking. Danielsson uses lessons from past and recent crises to show that diversity is the best way to safeguard our financial system.

Risk management deals with prevention, decision-making, action taking, crisis management and recovery, taking into account consequences of unexpected events. The authors of this book are interested in ecological processes, human behavior, as well as the control and management of life-critical systems, which are potentially highly automated.Three main attributes define life-critical systems, i.e., safety, efficiency and comfort. They typically lead to complex and time-critical issues and can belong to domains such as transportation (trains, cars, aircraft), energy (nuclear, chemical engineering), health, telecommunications, manufacturing and services.The topics covered are related to risk management principles, methods and tools, and include situation awareness and the impact of new technology, reliability assessment: human errors as well as system failures, emotions, procedures, system monitoring, control and management, socio-organizational issues of crisis occurrence and management, co-operative work including human-machine cooperation and CSCW, responsibility and accountability: task and function allocation, authority sharing, interactivity, networking and management evolution and lessons learned from Human-Centered Design.

Implement practical solutions in business continuity management and organizational resilience guided by international best practice from ISO 22301:2019. Business continuity management and resilience are critical to maintaining a healthy business, but many organizations either do nothing (leaving themselves exposed to disruption), take short cuts (leaving major gaps) or fail to properly engage senior stakeholders. This book is a straightforward guide to delivering an effective business continuity capability, including practical solutions built from the author's personal experience managing hundreds of projects in a variety of business settings. Business Continuity Management compares incident management, crisis response and business continuity and how to explain their importance to senior decision makers to ensure appropriate investment. Readers will benefit from case studies of organizational crises and disruptions, including Home Depot, Nissan, RBS, Facebook, Equifax and KFC, and an exploration of lessons learned from the COVID-19 pandemic. With key performance indicators, templates and checklists covering planning, response, reporting and assurance, this book is the essential reference for business continuity and resilience which can be tailored to any organization.

Focusing on what actuaries need in practice, this introductory account provides readers with essential tools for handling complex problems and explains how simulation models can be created, used and re-used (with modifications) in related situations. The book begins by outlining the basic tools of modelling and simulation, including a discussion of the Monte Carlo method and its use. Part II deals with general insurance and Part III with life insurance and financial risk. Algorithms that can be implemented on any programming platform are spread throughout and a program library written in R is included. Numerous figures and experiments with R-code illustrate the text. The author's non-technical approach is ideal for graduate students, the only prerequisites being introductory courses in calculus and linear algebra, probability and statistics. The book will also be of value to actuaries and other analysts in the industry looking to update their skills.

An authoritative handbook on risk management techniques and simulations as applied to financial engineering topics, theories, and statistical methodologies

The Handbook of Financial Risk Management: Simulations and Case Studies illustrates the prac-tical implementation of simulation techniques in the banking and financial industries through the use of real-world applications.

Striking a balance between theory and practice, the "Handbook of Financial Risk Management: Simulations and Case Studies" demonstrates how simulation algorithms can be used to solve practical problems and showcases how accuracy and efficiency in implementing various simulation methods are indispensable tools in risk management. The book provides the reader with an intuitive understanding of financial risk management and deepens insight into those financial products that cannot be priced traditionally. The "Handbook of Financial Risk Management" also features: Examples in each chapter derived from consulting projects, current research, and course instructionTopics such as volatility, fixed-income derivatives, LIBOR Market Models, and risk measuresOver twenty-four recognized simulation modelsCommentary, data sets, and computer subroutines available on a chapter-by-chapter basis

As a complete reference for practitioners, the book is useful in the fields of finance, business, applied statistics, econometrics, and engineering. The "Handbook of Financial Risk Management" is also an excellent text or supplement for graduate and MBA-level students in courses on financial risk management and simulation.

Risks are increasingly regulated by international standards, and scientists play a key role in standardization. This fascinating book exposes the action of 'invisible colleges' of scientists loose groups of prominent scientific experts who combine practical experience of risk and control with advisory responsibility in the formulation of international standards. Drawing upon the domains of medicines, 'novel foods' and food hygiene, David Demortain investigates new regulatory concepts emerging from invisible colleges, highlighting how they shape consensus and pave the way for international standards. He explores the relationship between science and regulation from theoretic and historic perspectives, and illustrates how scientific experts integrate regulatory actors in commonly agreed modes of control and structures of regulatory responsibilities. Sociological and political implications are also discussed. Using innovative methodologies and an extensive insight into food and pharmaceutical regulation, this book will provide a much-needed reference tool for scholars and students in a range of fields encompassing science and technology studies, public policy, risk and environmental regulation, and transnational governance. Contents: 1. Risk Regulation From Controversies to Common Concepts 2. Communities, Networks and Colleges: Expert Collectives in Transnational Regulation 3. From Qualifying Products to Imputing Adverse Events: A Short History of Risk Regulation 4. Drawing Lessons: Medical Professionals and the Introduction of Pharmacovigilance Planning 5. Modelling Regulation: HACCP and the Ambitions of the Food Microbiology Elite 6. The Value of Abstraction: Food Safety Scientists and the Invention of Post-market Monitoring 7. Exploring Invisible Colleges: Sociology of the Standardising Scientist 8. Scientists, Standardisation and Regulatory Change: The Emergent Action of Invisible Colleges Appendix 1. Research Strategy and Methodology References Index

In the next wave of conduct regulation in financial markets, from 2021 conduct regulators in the UK and elsewhere expect firms to produce evidence on how they are improving behaviour and culture. Facing this, many practitioners are anxious that their current reporting and management information (MI) are irrelevant to meeting as-yet unclear regulatory expectations. This book provides the insights and tools firms need to report on culture, securing both enhanced business value and the regulator's approval. Culture is now seen as a key contributor to good governance, feeding into existing discourse on environmental, social and governance (ESG) factors and the emerging dialogue on 'non-financial (mis)conduct', but conventional measures of business quality are unfit for the new reporting agenda. Culture Audit in Financial Services follows the arc of 'behavioural regulation' to examine what the regulator really wants, before offering guidance on how culture audit differs from conventional auditing, how to put the latest pure-research findings to work, and the key features of well-designed conduct and culture reports. Written by an impartial author and a variety of contributors with extensive experience working with practitioners, regulators, and many of the world's finest academic initiatives, this book is filled with practical, grounded advice on how best to approach this new challenge and avoid infractions.