• International conference on construction engineering and project management
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• 2022.06a
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• pp.245-252
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• 2022

Risk identification for bridge projects is a knowledge-based and labor-intensive task involving several procedures and stakeholders. Presently, risk information of bridge projects is unstructured and stored in different sources and formats, hindering knowledge sharing, reuse, and automation of the risk identification process. Consequently, there is a need to develop structured and formalized risk information for bridge projects to aid effective risk identification and automation of the risk management processes to ensure project success. This study proposes a semantic risk breakdown structure (SRBS) to support risk identification for bridge projects. SRBS is a searchable hierarchical risk breakdown structure (RBS) developed with python programming language based on a semantic modeling approach. The proposed SRBS for risk identification of bridge projects consists of a 4-level tree structure with 11 categories of risks and 116 potential risks associated with bridge projects. The contributions of this paper are threefold. Firstly, this study fills the gap in knowledge by presenting a formalized risk breakdown structure that could enhance the risk identification of bridge projects. Secondly, the proposed SRBS can assist in the creation of a risk database to support the automation of the risk identification process for bridge projects to reduce manual efforts. Lastly, the proposed SRBS can be used as a risk ontology that could aid the development of an artificial intelligence-based integrated risk management system for construction projects.

• Journal of Applied Reliability
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• v.8 no.4
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• pp.167-179
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• 2008

System risk is the totality of all safety risks to customers, employees, suppliers, and other third parties that arise due to system operations. To assess the risk of major hazards with the potential to cause fatality to the customers and other members of the public, quantitative risk assessment methodologies are used. This paper presents the general principles of risk based management approach to improve the safety of high risk systems such as aviation, railway, and nuclear power plants. For the suitable risk control arrangement, case studies of acceptable risk level, risk rating matrix, and safety management philosophy are presented.

• Journal of Distribution Science
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• v.20 no.12
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• pp.81-87
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• 2022

Purpose: This study aims to explore the relationship between stock liquidity and skewness risk-tail risk (stock price crash risk) in an emerging market, in which problems on liquidity are more severe than in developed markets. Research design, data, and methodology: Based on the Thai market stock exchange over the period of 2000 to 2019, our sample include 13,462 firm-period observations. We employ a panel regression models regarding to five liquidity measures. These five liquidity measures cover three dimensions of liquidity namely the volume-based, price-based, and transaction cost-based measures for the liquidity-tail risk relationship. Results: We find a positively significant relationship between stock liquidity and tail risk in all cases. The finding here shows that the higher the stock liquidity, the larger the tail risk is. Conclusion: As the prior studies show inconclusive effect of stock liquidity on stock price crash risk, we demonstrate that mixed results found in prior studies are probably driven from the type of liquidity measure. The stock liquidity-tail risk association is present in the Stock Exchange of Thailand. The results remain the same regardless of the definition of tail risk and liquidity factors. An endogeneity issue is addressed by employing the two-stage least squares regression.

• Nuclear Engineering and Technology
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• v.55 no.6
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• pp.2047-2052
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• 2023

Risk-informed approach has been widely applied in the safety design, regulation, and operation of nuclear reactors. It has been commonly accepted that risk-informed design optimization should be used in the innovative reactor designs to make nuclear system highly safe and reliable. In spite of the risk-informed approach has been used in some advanced nuclear reactors designs, such as Westinghouse IRIS, Gen-IV sodium fast reactors and lead-based fast reactors, the process of risk-informed design of nuclear reactors is hardly to carry out when passive system reliability should be integrated in the framework. A practical method for new passive safety reactors based on probabilistic safety assessment (PSA) and passive system reliability analyze linking is proposed in this paper. New three-dimension frequency-consequence curve based on risk concept with three variables is used in this method. The proposed method has been applied to the determination optimization of design options selection in a 10 MWth lead-based research reactor(LR) to obtain one optimized system design in conceptual design stage, using the integrated reliability and probabilistic safety assessment program RiskA, and the computation resources and time consumption in this process was demonstrated reasonable and acceptable.

• Asia pacific journal of information systems
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• v.13 no.2
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• pp.199-217
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• 2003

Based on the IS literature on software project risk management, we developed an integrated model to investigate the risk factors and risk management factors in project development. We also analyzed the interrelation between project risk and project risk management. The questionaries are collected from 83 project leaders. We tested reliability and validity of the measure and analyzed the obtained data. The results support our risk-based hypothesis that shows the importance of risk management in reducing project risks and improving performance of project and process.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.343-352
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• 2021

This study aims to identify the impact of the audit approach based on business risks (i.e., external environment risk, operations risk, information risk) in reducing unsystematic risks (i.e., operational risk, credit risk, liquidity risk, capital risk, and administrative risk) in Jordanian banks. To reduce the effect of unsystematic risks and, thus, improve banking performance, an audit approach based on business risks has emerged. To achieve the objectives, this study relied on descriptive statistics and the regression approach to study twenty-five Jordanian banks. The researcher used the intentional sampling method represented by employees of the accounting, financial and control departments in Jordanian banks. Seventeen banks contributed to the study, with a percentage of 68%, totaling 356 employees. A questionnaire was designed to obtain the data, and due to homogeneity among the sampling members, a purposive sample was drawn and 300 questionnaires were distributed. The results of the study found a statistically significant effect of the audit approach based on business risks with its combined dimensions on reducing unsystematic risks in Jordanian banks. The results of the study also found a statistically significant effect of the business risk-based audit approach with its combined dimensions on reducing operational risks in Jordanian banks.

• Journal of Food Hygiene and Safety
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• v.12 no.4
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• pp.340-345
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• 1997

This study was undertaken to evaluate microbial risk degree of some processed foods in Korea. In this study the data on the outbreak of foodborne diseases during recent 18 years (1976-1989, 1993-1996. 8) were analyzed. The most frequently isolated pathogens were Salmonella (36.9%); followed vibrio (22.0%), Staphylococcus (15.7%) and Escherichia coli (13.3%). Outbreak rate of Staphylococcus, Vibrio, E. coli and Salmonella, was 33.0%, 23.5%, 17.5% and 17.1%, respectively. Overall risk degree of pathogens by fatality rate, outbreak rate and pathogen amount for foodborne outbreak was Clostridium, 5, Staphylococcus and Vibrio, 4, Salmonella and E. coli, 3. Based on foodborne pathogens, the risk degree of raw seafoods, raw eggs and processed seafoods were 4, and those of raw meats, Doshiraks and milk products were 3. Also, based on processing characteristics of foods, the risk degree of surimi-based imitation crab was 3. Foods of the highest actual risk degree were raw seafoods and raw eggs (16); followed raw meats (15), surimi-based imitation crab (12), Doshirak (9) and milk products (6).

• International Journal of Safety
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• v.6 no.2
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• pp.8-12
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• 2007

This study includes a case study among plastic process manufacturing companies, based on which, the currently used 4M method is applied in terms of machine, media, man, and management, to conduct quantitative risk evaluation, and thus to contribute to reducing human and material loss as well as preventing accidents in industrial fields. The result of this study is analyzed based on the 4M-risk assessment to find out the hazardous risk elements, and the quantitative evaluation made it predictable the value of risk(frequency $\times$ intensity) in such classified levels as serious risk, critical risk, and intolerable risk. Further, Among the businesses with hazardous risk elements and high frequency of industrial disaster, risk analysis was conducted for each process, and as a result, 38 cases among 76, including those of serious risk, critical risk, and intolerable risk, were improved, and the risk was reduced. Besides, it is thought that with the engineering approach with 4M-Risk Assessment, the attempt to improve safety level contributes to prevention of accidents.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.4B
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• pp.261-266
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• 2012

In this study, soil environmental impact assessment using risk-based approach was compared with that using concentration-based approach. For this, heavy metal contaminant exposure was characterized in an abandoned mine area. According to the estimated carcinogenic and non-carcinogenic risks, soil ingestion was identified as the most dominant exposure pathway. When contaminant concentrations exceeded the Korean Soil Contamination Warning Standards, their corresponding risk values also exceeded the Total Soil Risk Standard. Even the cases of satisfying the Korean Soil Contamination Warning Standards mostly showed higher risk levels than the Total Soil Risk Standard, re-confirming a more sensitivity of the risk-based assessment than concentration-based assessment. However, the in-depth analysis of the estimated non-carcinogenic risk values revealed a few cases for soil contact pathway showing contaminant concentrations higher than the Korean Soil Contamination Warning Standards although their non-carcinogenic risk values satisfied the level of Hazard Index Standard. The findings from this study support a necessity of shifting policy paradigm from concentration-based approach into risk-based approach for reliable risk assessment in abandoned mine areas, and also suggest a necessity of further fundamental studies regarding risk factors and standards.

• Journal of Information Processing Systems
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• v.16 no.1
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• pp.61-82
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• 2020

The security risk management used by some service providers is not appropriate for effective security enhancement. The reason is that the security risk management methods did not take into account the opinions of security experts, types of service, and security vulnerability-based risk assessment. Moreover, the security risk assessment method, which has a great influence on the risk treatment method in an information security risk assessment model, should be security risk assessment for fine-grained risk assessment, considering security vulnerability rather than security threat. Therefore, we proposed an improved information security risk management model and methods that consider vulnerability-based risk assessment and mitigation to enhance security controls considering limited security budget. Moreover, we can evaluate the security cost allocation strategies based on security vulnerability measurement that consider the security weight.