This is an update and expansion upon PMI's popular reference, The Practice Standard for Project Risk Management. Risk Management addresses the fact that certain events or conditions may occur with impacts on project, program, and portfolio objectives. This standard will: identify the core principles for risk management; describe the fundamentals of risk management and the environment within which it is carried out; define the risk management life cycle; and apply risk management principles to the portfolio, program, and project domains within the context of an enterprise risk management approach It is primarily written for portfolio, program, and project managers, but is a useful tool for leaders and business consumers of risk management, and other stakeholders.

This book collects the papers presented at the 6th International Conference on Risk Analysis and Crisis Response (RACR-2017) held in Ostrava/Prague, Czech Republic, on June 5-9, 2017, organized by VSB-Technical University of Ostrava, Czech Republic. The overall theme of the sixth international conference on risk analysis and crisis response is Risk Analysis and Management - Trends, Challenges and Emerging Issues, highlighting science and technology to improve risk analysis capabilities and to optimize crisis response strategy. This book contains primarily research articles of risk issues. Underlying topics include natural hazards and major (chemical) accidents prevention, disaster risk reduction and society resilience, information and communication technologies safety and cybersecurity, modern trends in crisis management, energy and resources security, critical infrastructure, nanotechnology safety and others. All topics include aspects of multidisciplinarity and complexity of safety in education and research. The book should be valuable to professors, engineers, officials, businessmen and graduate students in risk analysis and risk management. About the book series Communications in Cybernetics, Systems Science and Engineering - Proceedings (CCSSEP) is a cross-disciplinary book series devoted to theoretical and applied research contributions, that cater to a rapidly growing worldwide interest in a cybernetic and systemic methodology with an ever-increasing capacity to deal with new challenges in a way that traditional science cannot. The series aims to become a comprehensive reference work on and guide to developments within the field and strategies required for better implementation of advances, with a view to environmental protection and sustainable social and economic development. The CCSSE series targets all working in theoretical and applied fields of cybernetics, systems science and engineering, e.g. academics, researchers and consultants, computer and information scientists, development and systems engineers, mathematicians, management cyberneticists and systemists, medical scientists, and intelligent and manufacturing engineers in industry, as well as leading decision- and policy-makers. Series editor: Jeffrey 'Yi-Lin' Forrest

This book is a practical guide to the latest risk management tools and techniques applied in the market to assess and manage credit risks at bank, sovereign, corporate and structured finance level. It strongly advocates the importance of sound credit risk management and how this can be achieved with prudent origination, credit risk policies, approval process, setting of meaningful limits and underwriting criteria. The book discusses the various quantitative techniques used to assess and manage credit risk, including methods to estimate default probabilities, credit value at risk approaches and credit exposure analysis. Basel I, II and III are covered, as are the true meaning of credit ratings, how these are assigned, their limitations, the drivers of downgrades and upgrades, and how credit ratings should be used in practise is explained. Modern Credit Risk Management not only discusses credit risk from a quantitative angle but further explains how important the qualitative and legal assessment is. Credit risk transfer and mitigation techniques and tools are explained, as are netting, ISDA master agreements, centralised counterparty clearing, margin collateral, overcollateralization, covenants and events of default. Credit derivatives are also explained, as are Total Return Swaps (TRS), Credit Linked Notes (CLN) and Credit Default Swaps (CDS). Furthermore, the author discusses what we have learned from the financial crisis of 2007 and sovereign crisis of 2010 and how credit risk management has evolved. Finally the book examines the new regulatory environment, looking beyond Basel to the European Union (EU) Capital Requirements Regulation and Directive (CRR-CRD) IV, the Dodd-Frank Wall Street Reform and Consumer Protection Act. This book is a fully up to date resource for credit risk practitioners and academics everywhere, outlining the latest best practices and providing both quantitative and qualitative insights. It will prove a must-have reference for the field.

Quantitative risk assessments cannot eliminate risk, nor can they resolve trade-offs. They can, however, guide principled risk management and reduction - if the quality of assessment is high and decision makers understand how to use it. This book builds a unifying scientific framework for discussing and evaluating the quality of risk assessments and whether they are fit for purpose. Uncertainty is a central topic. In practice, uncertainties about inputs are rarely reflected in assessments, with the result that many safety measures are considered unjustified. Other topics include the meaning of a probability, the use of probability models, the use of Bayesian ideas and techniques, and the use of risk assessment in a practical decision-making context. Written for professionals, as well as graduate students and researchers, the book assumes basic probability, statistics and risk assessment methods. Examples make concepts concrete, and three extended case studies show the scientific framework in action.

Increasingly, the focus of risk management is not only on minimizing the negative consequences of uncertain events, but on truly providing competitive advantage. However, neither threats nor opportunities can be effectively identified and assessed without good quality market intelligence. As companies increasingly integrate their corporate risk, strategy, and finance decisions, they are finding that corporate risk identification and assessment is only as good as the data in their system. Author Scott Randall, using the framework of enterprise risk management, market research, quality management, and strategic planning, has written a timely and important new book about competitive advantage in the energy business, and how it can be gained using a cross-disciplinary integration of tools, techniques, and structure that yields reliable information.

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.

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.

Public misperception of radiological risk consistently directs limited resources toward managing minimal or even phantom risks at great cost to government and industry with no measurable benefit to overall public health. The public's inability to comprehend small theoretical risks arrived at through inherently uncertain formulae, coupled with an irrational push to eliminate all risk with no contextual understanding of overall benefit, results in a forfeiture of valuable advances in technology in favor of an illusion of safety.

Radiation Risks in Perspective uses general concepts underlying radiological risk as a model to illuminate the fundamental problems in public perception, reaction, and policy when faced with possible health risks. Presenting three distinct themes, the author summarizes the causes for the failure of the current system and proposes methods for correction. Beginning with a discussion of the methods used to measure threat, the author weighs the nebulous assessment ofrisk with the use of a quantifiable assessment of hazardous dose, which uses actual numbers that the public can readily understand and that decision makers can confidently use to enact policy and measure success.

Secondly, the author addresses the contextual balancing of cost versus benefit when prioritizing expenditure, specifically emphasizing that it is inappropriate to analyze and discuss individual risks without regard to the presence of other risks. Finally, the author analyzes the public's tendency to push toward zero risk tolerance, an extremist approach that leads to unreasonable restrictions on technologies, excessive regulatory compliance costs, and the ultimate loss of goods and services.

With detailed explanations and illustrative case studies, Radiation Risks in Perspective offers scientists, lawyers, engineers, policy makers, and public health professionals, the skills they need for a rational evaluation of risk.

This book is designed as an introduction to recent social science work on risk and is intended primarily for students in sociology, social psychology, and psychology, although it will also be useful for those studying political science, government, public policy, and economics. It is written by leading experts actively involved in research in the field.

.,."this is a very good book - an easy and informative read on a topic of immense complexity and very enjoyable. The layout is excellent, with clear headings, a useful three-part structure and good-quality print. ...This book will undoubtedly find its market niche and become a 'good risk read'." - "British Journal of Social Work 36 (3) 2006

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What does it mean to live in risk society'?

How does the idea of risk change how we live with each other?

Risk currently dominates individual and collective consciousness. Globally, insecurity is related to terrorism, pollution, global epidemics and famine, yet smoking, sunlight and travel have also become major preoccupations.

This book provides a powerful and lucid account of risk in society today. Denney critically examines the social construction of risk, by considering a range of social theories, addressing the literature and providing an authoritative guide to the key issues raised.

An analysis of the nature of risk to aspects of everyday life - of the meanings which have been assigned to notions of risk - is also considered. Finally, global themes such as terrorism, global regulation governance and developments in international relations are examined.

This book will be required reading for students of risk within the fields of Sociology, International Relations and Media, Culture and Communications.

The assessment of cancer risk is a complex process that requires the examination of etiological agents, real-world environments, and individual rates of exposure. This reference offers practical approaches to determine cancer risk in individuals, groups of exposed persons, and the general public in relation to individual genetic and acquired susceptibilities.

The basis for much of medical public health practice comes from epidemiological research. This text describes current statistical tools that are used to analyse the association between possible risk factors and the actual risk of disease. Beginning with a broad conceptual framework on the disease process, it describes commonly used techniques for analysing proportions and disease rates. These are then extended to model fitting, and the common threads of logic that bind the two analytic strategies together are revealed. Each chapter provides a descriptive rationale for the method, a worked example using data from a published study, and an exercise that allows the reader to practice the technique. Each chapter also includes an appendix that provides further details on the theoretical underpinnings of the method. Among the topics covered are Mantel-Haenszel methods, rates, survival analysis, logistic regression, and generalised linear models. Methods for incorporating aspects of study design, such as matching, into the analysis are discussed, and guidance is given for determining the power or the sample size requirements of a study. This text will give readers a foundation in applied statistics and the concepts of model fitting to develop skills in the analysis of epidemiological data.

Why are vast sums spent on controlling some risks but not others? Is there any logic to the techniques we use in risk regulation? These are key questions explored in The Government of Risk. This book exposes the components of risk regulation systems and examines their interaction and explanation. The approach employed is of a high policy relevance as well as of considerable theoretical importance.

Methods for determining exposure of pesticides to agricultural workers have been developing for over thirty years. You may ask: what more do we need to know? Worker Exposure to Agrochemicals provides the answer. It contains a compilation of research papers that examine this issue from every angle.
Even with all the information available, there still remains an intense debate over what method - dermal deposition or biological monitoring - provides better results when measuring worker exposure. Researchers almost never realize the same results in concurrent experiments using both methods. The question is: which process is more accurate?
Worker Exposure to Agrochemicals examines the effectiveness of both procedures. Two chapters describe the simultaneous use of both methods and their outcome. The remaining chapters cover risk assessment, protective clothing, Canadian dosimetry, "Jazzercise," a tiered approach to exposure estimation, modeling reentry exposure, performing a dislodgeable residue study, and GLP requirements.

Ulrich Beck's best selling Risk Society established risk on the sociological agenda. It brought together a wide range of issues centering on environmental, health and personal risk, provided a rallying ground for researchers and activists in a variety of social movements and acted as a reference point for state and local policies in risk management. The Risk Society and Beyond charts the progress of Beck's ideas and traces their evolution. It demonstrates why the issues raised by Beck reverberate widely throughout social theory and covers the new risks that Beck did not foresee, associated with the emergence of new technologies, genetic and cybernetic. The book is unique because it offers both an introduction to the main arguments in Risk Society and develops a range of critical discussions of aspects of this and other works of Beck.

Can we better predict or mitigate the consequences of natural disasters, such as earthquakes and hurricanes? Can we reduce the number of oil spills? And what should be done to clean up the mess when something does goes wrong? Why are people concerned about nuclear plants, but so reckless when they go skiing, or when they drive their motor cars? And how can we ensure that experts and ordinary citizens exchange meaningful information about hazards? Over the past fifty years or so, eminent scholars from the decision sciences, geography, sociology, anthropology, and many other fields, have offered useful pointers towards finding an answer to these and other crucial questions. Their prolific and converging efforts have established Risk Analysis as a vivid new discipline, a discipline which this new Routledge collection enables users to discover-or to understand better. The collection conveys essential lessons about how risks can be better assessed. Sophisticated models about the probability and magnitude of harms have been developed and tested in a variety of fields, for example, by engineers trying to build safer plants, or by toxicologists trying to understand the pathways of pollutants. The materials gathered here also help us to understand how powerful perception drivers shape our views of different risks and, as a consequence, how risk communication may be best conducted. Risk also brings together and makes sense of a body of knowledge that has allowed the development of specific methods to join together these two crucial elements into a coherent management 'whole'.

From Main Street to Mumbai, Managing Emerging Risk: The Capstone of Preparedness considers the new global drivers behind threats and hazards facing all those tasked with protecting the public and private sector. The text delves into the global mindset of public and private sector emergency managers and presents a new risk landscape vastly different from the one existing ten years ago. The book begins by presenting a series of fictitious scenarios each resulting in mass destruction and fatalities. These are each followed by actual news stories that support the scenarios and demonstrate that the proposed events-seemingly unthinkable-have the potential to occur. Next, the author identifies two drivers in the practice of emergency management and general preparedness today that constitute our view of the future and the new face of risk. The first is the Disaster Halo Effect-the idea that modern threats exhibit more than one event. The second is the worldview of our nation as a Market State focused on the trading of goods, services, and ideas among the nation-states. The book also reviews the history of preparedness and discusses its relationship with large-scale threats, establishing that hindsight bias has hurt our ability to plan and respond to the unexpected. The chapters that follow explore what is needed to better cultivate, design, develop, and operate emerging management and preparedness thinking in the current environment. Each chapter begins with key terms and objectives and ends with thought-provoking questions. Introducing a new paradigm of thought that takes into account the chief influencers of global threats, the book arms emergency and business operations managers with the ammo needed to successfully confront emerging threats in the 21st century.

As there has been a continued increase in the demand for higher levels of safety, security and reliability for all critical infrastructures, the design, construction, and operation of dams should be integrated as part of a comprehensive risk management framework that can effectively address natural and manmade hazards. As an effect, in recent years integrated management strategies have become more and more important, and as such, their related implementation efforts should include aspects such as sustainability, resilience, and public participation. Risk Analysis, Dam Safety, Dam Security, and Critical Infrastructure Management offers the state of the art on risk analysis, representing a primary tool for achieving effective management of critical infrastructures along with a suitable framework for the development of risk management models regarding natural, technological and human-induced hazards.

Calculating Political Risk is rich and illuminating, and much more than a political science treatise. Althaus draws on diverse literature, extensive interviews and intriguing case studies to offer interdisciplinary, practical and nuanced insight. This book provides new perspectives and more precise language for making sense of a critical dimension of politics, policy-making and public management. Evert Lindquist, Director and Professor, School of Public Administration, University of Victoria, Canada This powerful new book is the first ever examination of the hard edge of how political risk - something faced by all political actors innumerable times every day - is calculated and used in decision-making. It opens with an outline of the historical and linguistic origins of risk, the various disciplinary understandings of risk, the risk society concept, and how risk has come to be so prominent in the context of environmental disaster and terrorism. The book then defines political risk and looks at its manifestations in the public sector, from project to high-level political risk. It also looks at risk identification versus risk management and compares the concept of political risk with the private sector practice of risk management. Unique research findings from interviews with over 100 risk practitioners and politicians provide a detailed look at how political actors calculate political risk. Case study-based chapters look in-depth at neat and discrete examples: risk calculation in state development plans in Australia; political risk identification and management in the UK during the mad cow crisis; and US government risk calculation in the post-September 11 context. The final chapters draw together the experiences and lessons learned from the case studies and practitioner insights to formulate a better understanding of what political risk is and what its calculation means in political practice. The author shows how political risk calculation provides a fresh perspective on policy analysis and identifies how political risk is relevant to a broader understanding of politics and political science, as well as policy formulation and implementation on the ground.

This new anthology is a comprehensive introduction to the field of risk theory. The introduction provides the ideal starting point for students and professionals new to risk studies and offers a concise refresher for researchers and practitioners. Coverage includes the origins of the 'concept of risk' and its often misunderstood cousin 'uncertainty, ' before moving on to address risk perception, risk communication, the idea of trust and post trust as well as risk in policy and regulation with a close look at the Precautionary Principle. Following the introduction, the volume includes a selection of the most significant and influential works on risk in their entirety. These selections, organized thematically to cover the breadth and depth of the field, provide greater detail and elaborate on the key themes and major developments in risk studies. Together they comprise the essential literature necessary for a full understanding of risk theory and practice on any issue and in any context.

The question as to whether we are now entering a risk society has become a key debate in contemporary social theory.Risk and Technological Culture presents a critical overview of the main theories of risk - from Ulrich Beck's foundational work to that of his contemporaries Anthony Giddens and Scott Lash - and assesses the extent to which risk has impacted on modern societies. In this discussion, van Loon demonstrates how new technologies are transforming the character of risk, and examines the relationship between technological culture and society through substantive chapters on topics such as ecology, violent crime and communication technologies. In so doing, this innovative new book extends the debate to encompass theorists such as Jean-François Lyotard, Bruno Latour and Donna Haraway.

eBook available with sample pages: 0203466381

Occupational Safety and Hygiene presents selected papers from the International Symposium on Occupational Safety and Hygiene - SHO2013 (Guimaraes, Portugal, 14-15 February 2013), which was organized by the Portuguese Society for Occupational Safety and Hygiene (SPOSHO). The contributions from 15 different countries focus on: - Occupational safety - Risk assessment - Safety management - Ergonomics - Management systems - Environmental ergonomics - Physical environments - Construction safety - Human factors The papers included in the book are mainly based on research carried out at universities and other research institutions, but they are also based on practical studies developed by Occupational Health & Safety (OHS) practitioners within their companies. As a result, this book will be useful to get acquainted with the state-of-the-art of the research within the aforementioned domains, as well as with some practical tools and approaches that are currently used by OHS professionals worldwide.