Development paths of risk management: approaches, methods and fields of application

Verbano, Chiara; Venturini, Karen

doi:10.1080/13669877.2010.541562

Cited by 70 publications

(38 citation statements)

References 143 publications

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“…Doering and Parayre [44] and Mu et al [45] created three groups of risks connected to a new project-technological risk, market risk, and organizational risk. Verbano and Venturini [46] classified nine groups of risks-financial risk, strategic risk, engineering risk, project risk, disaster risk, enterprise risk, insurance risk, supply chain risk, and clinical risk. It is mainly technical, financial, economic and political risks that are important for the SME segment and have a significant impact on business [47][48][49].…”

Section: Literature Reviewmentioning

confidence: 99%

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

et al. 2019

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Risks are a very important part of the business environment. If risks are managed well, they can provide a higher level of competitiveness and sustainability advantages for a company. The first step towards successful risk management is an identification of risks. The aim of this article is to create a risk profile for (small and medium-sized enterprises) SMEs in V4 countries (Czech Republic, Slovakia, Poland, Hungary), compare them to each other and then compare the results with those for Serbia. The data were collected during an extensive research project organized by Tomas Bata University in Zlín in 2017 and 2018. In total 2110 answers of SMEs were analyzed. For the verification of hypotheses, a 5-point Likert scale, Multiple Correspondence Analysis (MCA) and Multiple Factors Analysis (MFA) and ANOVA were used. The level of legal, security, personnel and operational risks is statistically higher in Serbia than in V4 countries, and the lowest level is in Slovakia. Some significant differences among the exposure to risk according to economic sectors were identified.

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Section: Literature Reviewmentioning

confidence: 99%

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

et al. 2019

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“…The most used tools are (Verbano and Venturini, 2011;Verbano and Turra, 2010): incident reporting, analysis of clinical records and clinical documentation, analysis of administrative data, client reports, brainstorming, Root Cause Analysis, checklist, Failure Mode and Effects Analysis -Failure Mode, Effects, and Criticality Analysis (FMEA-FMECA), Hazard Risk Assessment (HRA), Hazard and Operability Analysis (HAZOP), decision-making trees.…”

Section: Clinical Risk Managementmentioning

confidence: 99%

How to combine lean and safety management in health care processes: A case from Spain

Crema

Verbano

2015

Safety Science

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“…Tools usually adopted for financial risk management are derivatives (forward, interest rates, currency, options, swap and futures), while more traditional tools are, for example, Capital Asset Pricing Model (CAPM), Value at Risk (VaR) and rating-based models (Verbano and Venturini, 2011).…”

Section: Risk Management In the Electricity Marketmentioning

confidence: 99%

Risk indicators for managing the energy procurement process

Verbano

Crema

2015

International Journal of Productivity and Performance Management

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Purpose\ud \ud Energy commodities are characterised by rigid demand and high price volatility, linked to many variables such as climate factors, exchange rates, availability of resources. At the same time, the authorities often set prices, so wholesale energy companies need to create margins carefully by managing the procurement process and selecting appropriate tools to manage the risks associated with the volatility of energy prices. The aim of this research is to analyse and evaluate price and volume risks in the energy procurement process considering a ‘non-speculative’ point of view, which is understudied in the literature review.\ud Design/methodology/approach\ud \ud The paper adopts a quantitative approach to risk evaluation, based on accounting indicators, and applies it to a large Italian energy wholesale company\ud Findings\ud \ud A set of key risk indicators to measure price and volume risks is presented in the results, split into synthesis risk, unbalanced risks, modulation risks and risks derived from bilateral contracts. These indicators are applied to the case study, and each risk is prioritised and discussed.\ud Originality/value\ud \ud This contribution is one of the first attempts to analyse energy procurement risks in a non-speculative approach. The proposed method allows: 1) to evaluate and prioritise the three major types in the energy procurement process, 2) to observe the trend of risk exposure, 3) the performance measurement of the procurement process, 4) benchmarking activities if widely implemented in the energy sector

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Development paths of risk management: approaches, methods and fields of application

Cited by 70 publications

References 143 publications

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

How to combine lean and safety management in health care processes: A case from Spain

Risk indicators for managing the energy procurement process

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