ISO 31000:2009—The New International Standard on Risk Management

Leitch, Matthew

doi:10.1111/j.1539-6924.2010.01397.x

Cited by 131 publications

(82 citation statements)

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“…Successful political risk management should be based on sufficient resources and information as important components of the decision-making process are continually improved and enhanced [12]. At the firm level, political risks can be treated as part of the entire risk portfolio of an enterprise and can be addressed across multiple business areas [13,14].…”

Section: Introductionmentioning

confidence: 99%

Identifying Political Risk Management Strategies in International Construction Projects

Chang

Hwang

Deng

et al. 2018

Advances in Civil Engineering

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International construction projects are plagued with political risk, and international construction enterprises (ICEs) must manage this risk to survive. However, little attention has been devoted to political risk management strategies in international construction projects. To fill this research gap, a total of 27 possible strategies were identified through a comprehensive literature review and validated by a pilot survey with 10 international experts. Appraisals of these 27 strategies by relevant professionals were collected using questionnaires, 155 of which were returned. Exploratory factor analysis was conducted to explore the interrelationships among these 27 strategies. e results show that all of the 27 strategies are important for political risk management in international construction projects. Moreover, these 27 strategies were clustered into six components, namely, (1) making correct decisions, (2) conducting favorable negotiations, (3) completing full preparations, (4) shaping a good environment, (5) reducing unnecessary mistakes, and (6) obtaining a reasonable response. e 6 components can be regarded as 6 typical management techniques that contribute to political risk management in the preproject phase, project implementation phase, and postevent phases. e findings may help practitioners gain an in-depth understanding of political risk management strategies in international construction projects and provide a useful reference for ICEs to manage political risks when venturing outside their home countries.

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Section: Introductionmentioning

confidence: 99%

Identifying Political Risk Management Strategies in International Construction Projects

Chang

Hwang

Deng

et al. 2018

Advances in Civil Engineering

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“…This perception might stem from the approach employed by some key stakeholders to deal with psychosocial risks (as discussed previously) and also from the understanding of the concept of risk in health and safety in general, focusing on negative impact. ISO 31000 defines risk as an 'effect of uncertainty on objectives' (Leitch, 2010). According to this definition, risk is not conceptualized in terms of neither negative nor positive outcomes.…”

Section: )mentioning

confidence: 99%

Is psychosocial risk prevention possible? Deconstructing common presumptions

2015

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This paper tackles a much debated and often misunderstood issue in the modern world of work, psychosocial risks. Although the prevalence and impact of psychosocial risks is now widely acknowledged as a priority in health and safety in Europe, there remains resistance by key stakeholders in prioritizing psychosocial risk management both in business and policy making. This paper explores why this is still the case by discussing three presumptions in relation to the current state of the art in this area. It examines the validity of these presumptions by summarizing key evidence, policies and practices. It is concluded that, although guidance on psychosocial risks and their management exists in abundance as does evidence to support the 'case' for psychosocial risk management, the concept of psychosocial risk is still not clearly understood in its entirety with discussions being focused on negative impacts and not opportunities that can be capitalized upon through effective psychosocial risk management at the organizational and societal levels. A key issue is the false distinction often made between psychosocial factors and issues pertaining to work organization, since psychosocial risks are embedded in certain forms of work organization. The suitability of available methods and tools is also considered as well as existing capabilities in the context of socioeconomic changes and constraints. On the basis of the current state of the art, an action plan for the prevention of psychosocial risks in the workplace is proposed, linked to sustainability and a value-based perspective.

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“…Probability analysis may be qualitative or quan titative depending on the circumstances (Leitch 2010). Data for performing a probability analysis is either from historical incident data or expert elicitations (Abdo & Flaus ).…”

Section: Introductionmentioning

confidence: 99%

Fuzzy semi-quantitative approach for probability evaluation using Bow-Tie analysis

Abdo

Flaus

Masse

2017

Safety and Reliability – Theory and Applications

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. Fuzzy semi-quantitative approach for probability evaluation using Bow-Tie analysis. CEPIN, Marko; BRIS, Radim. 27th European Safety and Reliability annual conference (ESREL 2017) ABSTRACT: The International Organization for Standardization (ISO) imposes the evaluation of the probability of accidents during risk analysis with the consideration of uncertainty. However, quantitative probability analysis can be too expensive and lead to unreliable estimation. This is due to imprecision and lack of data where unjustifiable assumptions should be added, while quantitative information is lost by using a qualitative probability analysis. This paper proposes a fuzzy semi-quantitative approach to address data uncertainties as an alternative for losing and adding information. A fuzzy-based approach is used for handling vagueness and imprecision in the input parameter frequencies. The application of this approach is demonstrated using the casestudy of a Toss of Containment Scenario (LOC) in a chemical facility.

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ISO 31000:2009—The New International Standard on Risk Management

Cited by 131 publications

References 1 publication

Identifying Political Risk Management Strategies in International Construction Projects

Identifying Political Risk Management Strategies in International Construction Projects

Is psychosocial risk prevention possible? Deconstructing common presumptions

Fuzzy semi-quantitative approach for probability evaluation using Bow-Tie analysis

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