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  • severity
  • When developing the plan, consider using red, yellow and green lights or a 1-10 scale to understand the severity of risk (in terms of probability multiplied by impact) and use that severity to determine whether you will (1) mitigate, (2) eliminate (i.e., remove the program from operations), (3) avoid (i.e., ensure against the risk) or (4) accept (i.e., do nothing). (corporatecomplianceinsights.com)
  • mitigation
  • which the risk is accepted as it is without any risk mitigation measures and the risk will only be dealt with either actively or passively if it occurs. (scribd.com)
  • We illustrate a methodological and computational framework conducive to (1) a quantitative risk analysis of deepwater well barrier failures and subsequent hydrocarbon release to the environment and (2) the analysis of the value of the deployment of conventional and/or innovative mitigation measures. (springer.com)
  • Since probability and impact are associated with risks, the mitigation strategy would involve reducing one or the other or both, whereas there is no probability associated with an issue (since the event has already occurred), the issues are not "mitigated" but rather "resolved. (pmi.org)
  • Maintaining the integrity of a supply chain through risk mitigation is crucial to smooth and efficient business operations. (intechopen.com)
  • estimate
  • Each risk factor is associated with a matrix for the estimate of risks. (blulink.com)
  • The ARfD is defined as an estimate of the amount of a substance in food and/or drinking-water, normally expressed on a body-weight basis, that can be ingested in a period of h or less, without appreciable health risk to the consumer, on the basis of all the known facts at the time of the evaluation (JMPR, 00). (docplayer.net)
  • Our methodological framework is grounded on historical records and combines the use of Dynamic Event Trees and Decision Trees from which we estimate probability of occurrence and impact of post-blowout events. (springer.com)
  • calculation
  • The popular method of assessing drought risk requires the calculation of the probability that a specific value of drought variable will be exceeded, which is equal to the evaluation of the recurrence interval (Prohaska et al. (springer.com)
  • assess
  • Due to these factors, and the variations in the abilities of individuals to assess the chance elements and probabilities associated with risks, and the financial consequences of poor decisions, there exists a need for improving the overall processes of evaluating risks by increasing access to information as well as coordinating and processing information from multiple sources. (justia.com)
  • This standard cannot be used to assess fire risk if any specifications are different from those contained in the standard. (document-center.com)
  • 6 ] proposed a model to assess risk level of the value in inventory financing business, and found the most sensitive risk factors by sensitivity analysis. (hindawi.com)
  • and using science-based techniques to assess the risk of aquatic invasive species. (gc.ca)
  • theoretical
  • Results revealed that the empirical and theoretical probabilities of the symmetric Clayton in regions NE (Northeast), CS (Central and Southern China), EMC (Entire China), and symmetric Frank in regions NC (North China), SC (South China), IM (Inner Mongolia), NW (Northwest), TP (Tibet Plateau) agreed well. (springer.com)
  • This paper covers the theoretical as well as practical aspects of risk management methodologies. (pmi.org)
  • behavior
  • Instead, behavior in response to perceived risks depends on trust in authority and in one's self to take effective protective action if the need arises. (wiley.com)
  • identify
  • The system can identify additional elements of information required for evaluating the potentially insurable risk, and can request entry of such information for subsequent storage. (justia.com)
  • When visualised on a map, the insight into the risk levels across the precinct will enable engineers and spatial planners to identify and prioritise interventions to manage the flood risk. (mdpi.com)
  • The aim of the study was to analyze the clinical and epidemiological characteristics of Creutzfeldt-Jakob disease (CJD) in the health area of Meixoeiro Hospital and to identify possible specific risk factors to the general public. (blogspot.com)
  • concludes
  • EFSA concludes that the current geographical BSE risk (GBR) level is III, i.e. it is likely but not confirmed that domestic cattle are (clinically or pre-clinically) infected with the BSEagent. (blogspot.com)
  • describe
  • Because of these differences, the language used to describe risks is in the future tense: "If this happens, then this will be impacted," the language used for issues is in the present tense: "We have this problem. (pmi.org)
  • climate
  • The interaction among climate trend, variability and probability of point extremes had a minor effect on risk of extinction, time to extinction and distribution of the trait after accounting for their independent effects. (royalsocietypublishing.org)
  • Mutation amplitude had no effects on extinction risk, time to extinction or genetic adaptation to the new climate. (royalsocietypublishing.org)
  • However, assuming a given probability distribution of occurrence for any climate variable, changes in the mean and variance of the distribution will inevitably lead to even more frequent and more intense extreme events, such as high temperatures, storms, droughts, floods, cold spells and heat waves [ 5 ] ( figure 1 ). (royalsocietypublishing.org)
  • regression
  • We used a regression model (generalized linear mixed-model) to model containment probability of individual fires, assuming that containment was a repeated-measures problem (fixed effect) and. (usda.gov)
  • conduct
  • We conduct a study to determine the risk factors. (evirtualservices.com)
  • Purposive, non-probability sampling was used to conduct structured interviews with 80 adolescent mothers from the postnatal wards who had delivered their babies without attending ANC. (scielo.org.za)
  • understood
  • Project risk management is perhaps the least understood-and most effective-tool project managers can employ to increase the odds of project success. (pmi.org)
  • The mechanism by which this occurs is well understood, but quantitative models predicting the level of risk remain controversial. (wikipedia.org)
  • judgment
  • 7 ] constructed an evaluation model for liquidity risk based on L-VaR method, which could make a judgment whether the circulation attribute of the collateral security could meet the requirements of the pledge. (hindawi.com)
  • increases
  • It increases the probability of negative trends in socio-economic development of territories. (gisap.eu)
  • However, as supply chains become more global in scope, the potential for risk events occurring increases. (intechopen.com)
  • data
  • 6. The method of claim 4, wherein the pre-preprocessing of risk data step includes a Box-Cox power transformation or a set of time-series plots. (patentsencyclopedia.com)
  • A quantitative, non-experimental, descriptive research design was adopted, using structured interviews to collect data. (scielo.org.za)
  • A method and apparatus for evaluating the insurability of a potentially insurable risk has data bases for storing information, and the ability to correlate selected elements of information in respective data bases. (justia.com)
  • Other features include the ability to override an expert module and assign a different weight to an element of information, the use of statistical profiles to adjust assigned weights, the ability to determine expected profitably resulting from decisions concerning a particular risk, and the provision of additional data bases useful in managing workload and customizing operation of the system. (justia.com)
  • mitigate
  • review literature on risk perception of natural hazards, and examine the apparent paradox that those who report the greatest perceptions of risk are not necessarily those who prepare themselves best to mitigate the perceived risks. (wiley.com)
  • The plan should be updated annually and assign scores to your risk so you can put tools in place to mitigate the risk of a breach in the first place. (corporatecomplianceinsights.com)
  • events
  • Based on these copulas, the drought probabilities and return periods for the occurrence of drought events over the next 5, 10, 20, 50, and 100 years in each region were hereby comprehensively explained, and the results shown here could be helpful in the appraisal of the adequacies of water supply systems under drought conditions in all regions. (springer.com)
  • False occurrences of functional motifs in protein sequences can be considered as random events due solely to the sequence composition of a proteome. (biomedcentral.com)
  • impact
  • The article defines the necessity of taking into account the impact of risk-factors on the socio-economic situation in the region while making operational management decisions. (gisap.eu)
  • Regional risks defined as the probability of occurrence of certain factors, conditions or trends that may have an impact on carried out economic activity and regional system functioning. (gisap.eu)
  • We defined the impact as the consequence of the risk, if it occurred. (techrepublic.com)
  • Last but not the least, risk impact could be favorable or unfavorable to the project. (pmi.org)
  • Usually a risk is seen as a bad thing, something that will always have a negative impact. (pmi.org)
  • The risk register will normally include columns like "likely risk event date," "probability," "impact," and "person responsible for risk response plan" in addition to other columns. (pmi.org)
  • For example, the space shuttle Columbia disaster might have been prevented or its impact substantially reduced if an appropriate level of risk management was exercised. (pmi.org)
  • This risk has a medium probability and a high impact in an email-intensive environment, so, you could give it a red light, or an 8 out of 10. (corporatecomplianceinsights.com)
  • fires
  • Property is at risk from environmental sources such as fires and storms as well as from accidents, theft and vandalism. (justia.com)
  • accidents
  • Typical contributors to such risk include natural background radiation, medical procedures, occupational exposures, nuclear accidents, and many others. (wikipedia.org)
  • high risk
  • Adolescent pregnancies are high risk obstetric occurrences. (scielo.org.za)
  • The risk level of this area is classified as being predominantly very low or low, with a couple of locations with high and very high risk. (mdpi.com)
  • The interventions were shown to be effective in reducing the risk levels from very high/high risk to medium/low risk. (mdpi.com)
  • Canada has 20 per cent of the world's fresh water and one of the longest coastlines, thereby placing it at high risk from AIS . (gc.ca)
  • event
  • Thus, the definition of a risk should cover these three areas: an event in the future, a potential threat, or a potential opportunity. (techrepublic.com)
  • We defined a risk event as a discrete possible future occurrence that may affect the project for better or worse. (techrepublic.com)
  • We defined the probability as the likelihood that this event will happen. (techrepublic.com)
  • According to A Guide to the Project Management Body of Knowledge (PMBOK @ Guide) (Project Management Institute [PMI], 2008), a risk is an uncertain event that, if it occurred, has an effect on at least one project objective. (pmi.org)
  • The first and foremost thing to note is that risk is an event that has not happened yet but could happen in the future. (pmi.org)
  • Therefore, if an event has already occurred or is already occurring it cannot be called a risk, this kind of event would be classified as an "issue" or "problem. (pmi.org)
  • Secondly, a risk event may affect one or more project outcomes. (pmi.org)
  • If a future event were not expected to affect any of the project outcomes then it would not be called a risk. (pmi.org)
  • Risk is an event that has not happened yet but there is a likelihood that it may happen in future, where as an issue is an event that has already happened. (pmi.org)
  • For a risk to be insurable, the element of chance must be present, i.e., the loss should be caused by an uncertain future event which is not intentionally caused. (justia.com)
  • However, it addresses only one particular type of risk event related to disruptions produced by actual or potential terrorist threats and does not address an organization's overall risk management maturity. (intechopen.com)
  • Once you are notified of a cyber event or breach occurrence, the first thing you should do is call the lawyer on your legal team designated to take the lead on these matters. (corporatecomplianceinsights.com)
  • threats
  • The risks that produce negative outcomes are called "threats," and risks that produce positive outcomes are called "opportunities. (pmi.org)
  • Identifying the two types of risks allows project managers and teams to not let opportunities pass by while managing threats. (pmi.org)
  • investigate the risk and decision preferences of U.S. federal wildfire managers, based on their responses to a choice experiment questionnaire, and conclude that manager decisions may depart from the prescriptions of rational (expected utility) and effective decision making, e.g., by overresponding to relatively small (unlikely or low-damage) fire threats. (wiley.com)
  • differences
  • Complexity in the development of optimal model of regional risk management is defined by significant interregional differences in population, regional economy specialization, infrastructure development, socio-economic development level in general. (gisap.eu)
  • The main differences are related to timing and probability. (pmi.org)
  • research
  • To motivate the healthy development of the logistics financial business, many domestic and overseas scholars focused on the research of risk identification, evaluation, and prevention in the business. (hindawi.com)
  • note that much previous research on polarized perceptions of risk-benefit combinations has focused mainly on the perceptions of proponents and opponents, paying less attention to the perceptions of the majority of people who have ambivalent opinions (perceiving both high risks and high benefits), or who are indifferent (perceiving both risks and benefits as low). (wiley.com)
  • This research explores the relationship between an organization's supply chain risk management (SCRM) maturity and quality maturity. (intechopen.com)
  • Preliminary research indicates that there are no established standards for certifying risk management capability of organizations in the supply chain. (intechopen.com)
  • This research entitled: «Risk Management in Etablissement Kazoza Justin et Compagnie-Rwanda» has been under my supervision. (memoireonline.com)
  • level
  • In order to make optimal decisions government should have a certain program of action reducing the risk not only at federal level but also at the level of regions and municipalities. (gisap.eu)
  • Once we defined the terminology, we began a campaign throughout the organization to raise the general level of awareness of the Risk Management Program. (techrepublic.com)
  • adverse
  • For substances that are both genotoxic and carcinogenic, this approach provides advice to inform risk managers how close human exposures are to those anticipated to produce an adverse effect. (docplayer.net)
  • patterns
  • Both these authors measured the expectation of occurrence of PROSITE [ 4 ] functional patterns in a sequence database of size N, simply as the product of N and the amino acid probabilities in each position of the pattern. (biomedcentral.com)
  • responses
  • Corrective action may include steps taken to prevent future problems, problem solving, communication, conflict resolution, decision making, preparation of change requests, and implementing risk responses. (globalpmstandards.org)
  • organizations
  • Methods, computer-readable media, and apparatuses are disclosed for identifying predictive key risk indicators (KRIs) for organizations and/or firms through the application of specific statistical and quantitative methods that are well integrated with qualitative adjustment. (patentsencyclopedia.com)
  • Over the last decade, project risk management has become the backbone of organizations, which successfully deliver projects, and in the current period it is absolutely essential to the success of a project. (pmi.org)
  • A need also exists for improving the manner in which the management of large organizations involved in the evaluation of risk (such as large insurance companies) implement policies concerning such evaluations. (justia.com)
  • sequence
  • This analytical method uses computer science algorithms and combinatorial mathematics to give a constructive method for approximating (or calculating exactly, if the size of the problem allows for this) the distribution of number of matches of a given regular expression in a random text, the random text being modelled as either a Bernoulli sequence (independent letters with given probabilities of occurring) or a Markov sequence with given transition matrix. (biomedcentral.com)
  • harmful
  • 1.2 This guide is directed toward development of standards that will provide procedures for assessing fire risks harmful to people, property, or the environment. (document-center.com)
  • stable
  • The risk has since grown consistently due to a maintained internal and external challenge and lack of a stable system. (blogspot.com)