Methodology of monitoring key risk indicators

Peček, Bojan; Kovačić, Andrej

doi:10.1080/1331677x.2019.1658529

Cited by 6 publications

(5 citation statements)

References 25 publications

(18 reference statements)

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“…They were asked the following open-ended question: How can key risk indicators improve the current risk management frameworks applied to PPP contracts in Mozambique or similar countries? Key risk indicators are broadly used in the literature to provide support for risk management (Timmermans et al, 2016;Pecěk & Kovacǐc, 2019;Radojkovićet al, 2019). Reviewing and monitoring risk management frameworks is necessary to improve the effectiveness of the process design (ISO, 2018).…”

Section: Resultsmentioning

confidence: 99%

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A paradigm shift in risk management in public–private partnership arrangements

2021

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This research sought to determine how public–private partnership (PPP) arrangements can more efficiently address risk management issues using the example of Mozambique as a case study. Analyses of 15 interviews in this country were conducted using the Gioia methodology. The results indicate that integrating key risk indicators into PPP contracts can improve risk management. These measures have been widely used in company risk management. The indicators can serve as monitoring, reviewing and supervising tools, allowing the integration of external factors into PPP contracts at the right time, which is hard to predict when the contracts are signed. Key risk indicators can capture megatrends, track risk evolution and develop future scenarios throughout the entire lifecycle of contracts, preventing conflicts between partners, contract renegotiations or early contract terminations by facilitating an improved understanding of contracts' current realities. The findings suggest that these measures should be applied by PPP units. The proposed approach encourages originality and empirical research-based improvements of PPP risk management frameworks and provides guidelines for future studies.

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Section: Resultsmentioning

confidence: 99%

“…The concept of key risk indicators emerged in this context. Traditionally, these indicators provide statistics or metrics to support organisations' risk position (Pecěk & Kovacǐc, 2019). The objective of key risk indicators is to provide relevant measures to assess critical risk factors and potential risks (Beasley et al, 2010).…”

Section: Introductionmentioning

confidence: 99%

A paradigm shift in risk management in public–private partnership arrangements

2021

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“…These strategies can be found within those pertaining to preventive policies and improving the quality of the healthcare system. Besides time horizon, the number of people involved is considered to be a risk indicator (Peček & Kovačić, 2019 ). Also, effective tactics for crisis management and emergency planning target to cover the maximum number of people (University of Memphis, 2020 ).…”

Section: Discussionmentioning

confidence: 99%

Analyzing factors contributing to COVID‐19 mortality in the United States using artificial intelligence techniques

et al. 2022

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Having started since late 2019, COVID‐19 has spread through far many nations around the globe. Not being known profoundly, the novel virus of the Coronaviruses family has already caused more than half a million deaths and put the lives of many more people in danger. Policymakers have implemented preventive measures to curb the outbreak of the virus, and health practitioners along with epidemiologists have pointed out many social and hygienic factors associated with the virus incidence and mortality. However, a clearer vision of how the various factors cited hitherto can affect total death in different communities is yet to be analyzed. This study has put this issue forward. Applying artificial intelligence techniques, the relationship between COVID‐19 death toll and determinants mentioned as strongly influential in earlier studies was investigated. In the first stage, employing Best‐Worst Method, the weight of the primer contributing factor, effectiveness of strategies, was estimated. Then, using an integrated Best‐Worst Method–local linear neuro‐fuzzy–adaptive neuro‐fuzzy inference system approach, the relationship between COVID‐19 mortality rate and all factors namely effectiveness of strategies, age pyramid, health system status, and community health status was elucidated more specifically.

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“…Moreover, scientific work may be found focused on, e.g., HAZOP-based (Hazard and Operability Studies) approach implementation [33], or bow-tie diagrams use [34]. The problem of monitoring key risk indicators is investigated, e.g., in [35].…”

Section: Supply Chain Risk Managementmentioning

confidence: 99%

Risk Management Maturity Model for Logistic Processes

Tubis

Werbińska-Wojciechowska

2021

Sustainability

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Recently, the maturity models for risk management are attracting growing attention. The obtained maturity level defines an assessment of an organization’s management competence. Therefore, as a set of various tools and practices, the maturity model is critical for a company’s overall risk maintenance strategy development and implementation. Thus, the purpose of this article is to present a model for risk management maturity for logistic processes. We investigated the main defined assessment areas for risk maturity model implementation in logistic systems. Based on research findings, we introduced a new risk maturity assessment area based on participation in the supply chain—cooperation at risk. The proposed model constitutes the base for a two-stage assessment method implementation, where the global maturity index is introduced. Finally, we implement the proposed two-stage assessment method to verify the proposed model’s diagnostic function and determine its labor intensity. The study confirmed that the five defined maturity areas (knowledge, risk assessment, process risk management, cooperation at risk, and risk monitoring) provide a complex diagnostic tool for risk maturity level identification and, based on the obtained results, allows to define an appropriate development strategy for a given decision-making environment.

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Methodology of monitoring key risk indicators

Cited by 6 publications

References 25 publications

A paradigm shift in risk management in public–private partnership arrangements

A paradigm shift in risk management in public–private partnership arrangements

Analyzing factors contributing to COVID‐19 mortality in the United States using artificial intelligence techniques

Risk Management Maturity Model for Logistic Processes

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