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Contract, international law, and business law for WorldWide
Before entering into any legal agreement, it is essential to have our legal staff carefully review the provisions of the contract. The contract must be both legal and enforceable. Both state and, in the case of interstate commerce, federal law, should be reviewed to ensure that the agreement does not run afoul of existing regulations (Meiners, ingleb, & Edwards 2015: 90-91). It is also important to consider the likely trajectory of future regulation. The legalities pertaining to the economic environment is always changing, especially in the volatile world of healthcare and technology. In the case of many business deals, clauses are specifically inserted to ensure that one party does not bear the brunt of excessive unexpected damages. "Within a contract, risk transfer is primarily accomplished through a combination of indemnification/hold harmless, limitation of liability, and waiver of subrogation clauses" ("Basic…
Basic guidelines for contracts and contract risk management. (2015). Harvard University.
Danzon, P. (2006). NBER Reporter: Research Summary. Retrieved from:
World-Wide Concepts, Inc. (World-Wide): isk avoidance
Because World-Wide Concepts, Inc. is an internationally-based company with operations in a wide variety of sectors spanning across the developing as well as the developed world, it must proceed with caution when entering into business agreements. Business law, customs, and ethics can be extremely varied internationally and particularly in China, ussia, and India (where World-Wide has based some of its most critical operations), there must be discretion in terms of how the organization's contracts and other arrangements are framed to ensure it will continue to succeed in the future.
One risk of doing business abroad is that there are often different safety standards for products such as the pharmaceuticals and medical technology manufactured by World-Wide. In any contract, the roles, responsibilities, and identities of all of the involved parties should be clearly delineated, along with a timetable for the participants. For example, one notable…
Blackstone, E., Fuhr, J., Pociask, S. (2014).The health and economic effects of counterfeit drugs
American Health Drug Benefits, 7(4): 216-224. Retrieved from:
Green, M. (2016). Perspectives: Pharmaceutical quality and counterfeit drugs. CDC Travel
Small usiness' Need for a CPA
One of the critical investments a small business can make to mitigate loss and risk is hiring a CPA and putting that CPA on the 'management team.' As Wells notes in his groundbreaking research, "Denise, a bookkeeper for a small trucking firm in irmingham, Alabama, wishes she had never heard of Ralph Summerford, CPA. ecause of his thoroughness, Denise is facing several years in prison for embezzling $550,000 from her employer. At least she will look good standing before the sentencing judge: Denise spent a great deal of her illegal loot on head-to-toe cosmetic surgery. She blew the rest on a shiny new Lexus, luxury vacations, clothing and jewelry. And, of course, Denise had to have a big house to store all of her finery." (Wells, 2003)
Surprisingly, it was not at all the fancy standard of living that made her employer suspicious. "The…
Wells, Joseph. 2003. Protect small business: small companies without adequate internal controls need CPAs to help them minimize fraud risk. Journal of Accountancy.
Small Business Administration. 2005. www.sba.gov.
Federal Reserve Bank. 2004. www.federalreserve.gov.
AICPA. 2005. At www.aicpa.org/antifraud/training/homepage/htm.
The other criteria to be used in the selection of the institutions of higher learning are their length of existence and size.
Data collection plans
Data is to be collected using questionnaires and triangulation is to be used in the process. This means that both qualitative and quantitative techniques of data collection are to be used in order to increase the chances of getting valid results (Jick, 1979).
The following sources of information will be consulted;
Academic journals such as Library Review, Update, Library Trend and Program
Online databases and gateways such as BIDS, OCLC, BUBL, OMNI, ProQuests, Academic Complete and EBSCOHOST
Books that are relevant to the research and trends in the sector of higher education
Quantitative data collection
Quantitative data is to be collected using questionnaires that are to be administered to the respondents in a six-month period. The questionnaires are appropriate instruments for…
Beach v. Univ. Of Utah (1986) 726 P.2d 413, 415 (September 26, 1986)
See Beach v. Univ. Of Utah  726 P.2d 413, 415 (Utah 1986)
isk Management on a Satellite Development Project
Enrolling a project requires risk assessment and management at various levels of implanting a project. This is based on the knowledge that quality of risk management determines the performance and outcome of the project. In any case, the Project Management Office (PMO) is mandated to spearhead a risk assessment and management plan. isk management blueprints will later be implanted to each department. This analysis attempts to vindicate the role risk management in explaining the quality of output of this project. The commencing document is structured in two main parts. Firstly, a critical assessment on the fundamentality of risk. Secondly, the document will analyze the role of the team in responding to risk management stipulated by the PMO office (Charrel & Galarreta, 2007).
Issues arising from the lack of a risk plan.
Absence of a risk management plan would have affected this project negatively.…
Charrel, P., & Galarreta, D. (2007). Project management and risk management in complex projects studies in organizational semiotics. Dordrecht: Springer.
Dar, M. (2013). Operational Risk Management, Risk Management Approaches, and Risk Mitigation Techniques: Challenges Faced By Islamic Financial Services. IOSR Journal of Business and Management, 11(2), 72-79
Kerzner, H. (2013). Project management a systems approach to planning, scheduling, and controlling (Eleventh ed.). Hoboken, N.J.: Wiley.
Kloppenborg, T.J. (2012). Contemporary project management: organize, plan, perform (2nd ed.). Mason, Ohio: South-Western Cengage Learning.
Risk Management Plan
The nursing shortage is a well-known problem in many segments in the health care industry. It can often difficult to find a sufficient supply of well-trained nurses sufficient to meet staffing requirements. Nurses are a vital part of the health care system, and a shortage of trained nurses can leave the hospital vulnerable, and due to the shortage of staff there is often a heavier workload expected from the existing employees. One of the major concerns about the shortage of nurses and the consequent workload on the serving nurses and staff is that it can ultimately effect the maintenance of safety practices in the organization. This in turn, can leave the organization perpetually in a state of risk. Overworked nurses, or nurses who have to attend to an increased number of patients, often have to make sacrifices and cannot give adequate attention to each patient as is…
Jones, T. (2015). A Descriptive Analysis of Implicit Rationing of Nursing Care: Frequency and Patterns in Texas. Nursing Economics, 144-154.
Papastavrou, E. (2013). The ethical complexities of nursing care rationing. Health Science Journal, 346-348.
Schmidt, S. (2007). The Relationship Between Satisfaction with Workplace Training and Overall Job Satisfaction. Human Resource Development Quarterly, 481-498.
Risk workshops allow for a strong modeling process of any project management problem. Risk workshops, when conducted effectively produce a prioritized list of risks that has an assigned action and stakeholders attached to that risk. As a project manager all risks rely on the details of the project. I would always expect to be briefed on any changes in budget, deadline or change in objective. Identifying risks that address these issues is important in assessing the value of risk workshops.
Prioritization of key principles and objectives is imperative in the project management way of business. Understanding the difference between a threat and a priority is essential for success. High-priority opportunities should always be addressed first since they compose the main objectives and goals for that project. Threats are important but should not cause the project to come off the tracks.
When disaster strikes in the middle of a…
The concepts of "green houses," and "green jobs" are more and more utilized in everyday's conversation and the media has already made people aware of some of the benefits of using alternative sources of energy such as solar energy. The short and medium term benefits lie not only in the relatively short period of depreciation of such an investment, but also in an increase in the quality of life of those depending no longer on a source that is pollutant as well as not renewable. I will also appeal to the advantages provided by this alternate source of energy in terms of international politics and economies. Using the immense potential of alternative energy resources our country provides us, we could become less dependent on foreign oil, thus less influenced by the foreign politics and fluctuations in the oil prices on the international market.
United States Environmental Protection Agency. Climate Change.…
Victor. D.G. The Collapse of the Kyoto Protocol and the Struggle to Slow Global Warming. Princeton University Press, 2001. viii
Victor. D.G. The Collapse of the Kyoto Protocol and the Struggle to Slow Global Warming. Princeton University Press, 2001. viii
isk Management Plan
A&D High Tech
Introduction to the Plan
Charter, Scope, Plan, and WBS
Scope of the isk Management Plan
102.2 isk Management Plan Components
112.4 Expected Monetary Value Analysis
isk Management Identification
123.1 Determine the isks
133.2 Evaluate and Access the isks
133.3 Qualitative and Quantitative Processes
143.4 Compare and Contrast Techniques
144.1 Major and Minor isks for the isk Matrix
144.2 isk Matrix Template
Corrective Action and Monitoring
155.1 Type of Corrective isk Management
155.2 Corrective Plan
155.3 Corrective Action for isks
Section 6 -- esults, Conclusion, and Follow-Up
Section 7 - eferences
Section 1 -- Introduction
Introduction to the Plan
This project involves a company named A&D High Tech which operates within the computer products industry and sells computer products, accessories, and services to consumers and small businesses. The…
Risks of Climate Change
THE RISK OF CLIMATE CHANGE: IMPLICATIONS FOR ARCHITECTS AND ENGINEERS
Climate Change Impacts on Engineering Infrastructure
Key Impacts on Water and Resources
Risk Management Analysis Coping Methods Possibility And Probability
Recommendations And Guidelines For The Vulnerability Of Climate
Change Impacts Using Risk Management Methods And Analysis
THE RISK OF CLIMATE CHANGE: IMPLICATIONS FOR ARCHITECTS AND ENGINEERS
This work examines climate change in relation to impacts upon infrastructure, utilities, and water in relation to the affects from projected sea level rise, flooding, and other related impacts expected to result from climate change. This work also reviews models used for risk assessment and analysis and examines their usefulness and the associated limitations with these models. Knowledge and expertise is growing in the risk-assessment and analysis field of study and reliable models are being developed although the primary effective and appropriate use for the majority of these models…
Adapting to Climate Change Impacts on Water Management: A Guide for Planner (2006) AEA Technology - Prepared for the South East England Regional Assembly. May 2006. Online available at http://www.southeastra.gov.uk/our_work/planning/sust_nat_res/planners_adaptation_guide/planners_adaptation_guide.pdf
Sandell, 2007) ABC News Report Online available at http://www.abcnews.go.com/Technology/GlobalWarming/story?id=3582433&page=1
Blakemore, Bill (2007) Greenland: Where Towering Icebergs Raise Sea Levels. 9 Sept 2007. ABC News Online available at http://www.abcnews.go.com/WN/story?id=3579084&page=1
Cities Should Plan Now for Effects of Global Warming on Infrastructure (2005) University of Maryland 21 Feb 2005 Science and Technology Online available at http://www.newsdesk.umd.edu/scitech/release.cfm?ArticleID=1036
isk Management Consultant Proposal
Event: The Global Event for Biotechnology in Chicago, Illinois
In brief, this event will bring together professionals from not only the academia but also from government and the industry. The convention will in this case provide participants with a unique opportunity to explore, describe, and probe the various global challenges we are faced with today, and the most appropriate measures that can be adopted to rein in the said challenges.
isk assessment in the words of Dampsey (2007) "is the process of identifying potential areas of security and loss, and the development and implementation of effective measures or countermeasures to deal with these problems." This particular risk assessment for the aforementioned event will take into consideration not only the hazards but also the nature of risks, and the measures that should be taken to control them. In this particular case, a hazard…
Dampsey, J.S. (2007). Introduction to Private Security. Belmont, CA: Thomson Higher Education.
Wells, G. (1996). Hazard Identification & Risk Assessment. Rugby, Warwickshire: Institute of Chemical Engineers.
isk Management of Terrorism in the UK
The issue of designing a risk management strategy for terrorism in the UK is dependent upon understanding and identifying the commensurate risks attendant with the various extremists groups that are perceived as threats to the UK's safety and infrastructural stability. Challenges include adopting an intelligence and surveillance system, educating the public regarding attendant trouble spots (such as retaliatory violence and discrimination as well as purpose of surveillance) and adopting a position in the global network that facilitates the overall mitigation of threats. The benefits are evident in control and prevention results and good practice recommendations are provided in the conclusion. This study gives a contextual assessment of the risks facing the UK, analyzes the components of risk management that can be utilized to alleviate these risks, defines the term "terror," examines the historical challenges that coincide with these components, and discusses the benefits…
Ciftci, S. (2012). Islamophobia and threat perceptions: Explaining anti-Muslim
sentiment in the West. Journal of Muslim Minority Affairs, 32(3): 292-309.
Forst, B., Greene, J., Lynch, J. (2011). Criminologists on Terrorism and Homeland
Security. UK: Cambridge University Press.
Credit isk Management
Banks are an important part of the economy of any nation. Traditionally, the banks operate as financial intermediaries serving to satisfy the demand of people in need of various forms of financing. Through this, banks enable people to purchase home and businesses to expand. These financial institutions therefore facilitate investment and spending that are responsible for fueling the growth of the economy. In spite of their vital role in the economy, they are nevertheless prone to failure and just like other types of businesses, they also go bankrupt. Unfortunately, the failure of banks can have many and significant implications than any other type of business. As witnessed during the great depression, and in recent times following the global economic crisis and recession, the stability or lack of it in the banking system could trigger economic epidemics that would impact millions of people. With respect to this, it…
Bank for International Settlements (BIS). (2001). Consultative Document -- Overview of The New Basel Capital Accord. Basel Committee on Banking Supervision.
Basel Committee on Banking Supervision (1988) "International Convergence of Capital Measurement and Capital Standards" (www.bis.org/publ/bcbs04A.pdf).
Benston, G.J. (1998) "Regulating Financial Markets: A Critique and Some Proposals." Hobart Paper no. 135. London: Institute of Economic Affairs.
Blundell-Wignall, A., Atkinson, P. And Roulet, C. (2013). Bank Business Models and the Basel System: Complexity and Interconnectedness. OECD Journal: Financial Market Trends, Issue 2.
Kitchen emodel Project isk Management
You acquire knowledge risk management analysis a project. The project remodeling family kitchen. To prepare project, research kitchen remodeling work considerations project success. Hypothesize effect risk management project.
Project isk Management
Overall goal of risk management is to guarantee an increase of opportunities and decrease of risk. isks are uncertain events that occur in the process of project planning and implementation and can have both negative and positive effects (Metzger, 2006). isk management entails definition of procedures involved in implementation of a project and the likely risks to be encountered in the project activities. The purpose of coming up with a risk management plan is to come up with the ideal framework for use by the project team. The team will use the risk management plan to identify risks and developing strategies that mitigate, enhance or change the negative risks. This paper presents a risk…
Metzger, D.Z. (2006). Systems Approach to Strategic Project Management. International Journal of Project Management, 7(3), 56-106.
Wallis, P. (2012). Risk management achieving the value proposition. . Government Finance Review,, 28(1), 36-42.
Wysocki, K., Robert (2009). Effective Project Management. United States of America: Wiley Publishing, Inc.
However, it would be safer to follow general policies that are being followed even now. This means that one should pass on published information to shareholders on the Internet as it would be simpler and less expensive to send. This may include information about quarterly results, monthly turnover, changes of directors, appointment of new sales agents, general trends of markets at certain times, etc. The question would still remain as to how many shareholders would be competent enough to use this information and the passing on of information may result for the clients as an exercise of garbage in, garbage out.
5. Discuss the legal boundaries, including privacy issues. What exceptions if any exist to allow for the use of such data? If they do not exist, how would you counter the privacy advocates concerns?
Some experts believe that privacy concerns will ultimately reduce the growth of the Internet generally…
Insider Trading" U.S. Securities and Exchange Commission. Retrieved at http://www.sec.gov/answers/insider.htm . Accessed 15 October, 2005
Is Government needed to watch online markets?" (11 November, 2002) Harvard Business
School. Retrieved at http://searchcio.techtarget.com/originalContent/0,289142,sid19_gci864459,00.html . Accessed 15 October, 2005
Ivancevich, Susan; Jones, Lucian. C; Keaveney, Thomas. (December, 2002) "Don't Run the Risk" Journal of Accountancy. Retrieved at http://www.aicpa.org/pubs/jofa/dec2002/ivance.htm . Accessed 15 October, 2005
Project isk Management
isks associated with projects successful completion
A project is an undertaking of human beings towards satisfying world needs. Projects are endeavors with a defined beginning and an end. Projects suffer from scope, time, cost and quality constraints. It is necessary for project managers to manage the risk of developing weak scope. Scope of a project incorporates the objectives of a project, the target population, the output and impact of that endeavor. Therefore, managers of project need to do a problem analysis, stakeholder analysis, environment analysis to know if the project is sustainable (Cleland & King, 1988). On the risk of time, managers need skills on time management. Management of projects requires one to be well versed in developing schedules. Time management involves developing systems that has a specific time of completion and start time.
Scheduling of projects includes hiring of individuals for the accomplishment of projects. There…
King, W.R. (Eds.) & Cleland, D.I., & (1988). Project management handbook (Vol. 2). New
York: Van Nostrand Reinhold.
Anbari, F. T & Kwak, Y.H., (2009). Analyzing project management research: Perspectives from top management journals. International Journal of Project Management, 27(5),
Sidpers Program isk Management Plan
Project description and Objectives
Project Manager (PM)
The identified Sources of isk in the SIDPES Project
Summary isk eport
isk Breakdown Structure
Double P-I matrix
Hillson, D and Simon, P (2007).Practical Project isk Management: The Atom Methodology. Management Concepts.
This document contains details of the isk Management Plan for the SIDPES Project and defines the risk management process to be used in the risk management process that is to be used through the duration of this project. The Project Manager is to be the one who is responsible for the review as well as maintaining of this Management Plan throughout the project. This is to ensure that the risk process sis maintained at an appropriate level necessary for dealing with the level of risk that is faced by this specific project (Simon &…
GAO (1990)Standard Installation/Division Personnel System (SIDPERS) Battalion S1 Level Procedures: Department of the Army Pamphlet 600 -- 8 -- 1
Hillson, D and Simon, P (2007).Practical Project Risk Management: The Atom Methodology. Management Concepts.
Hillson, D (2002).Extending the risk process to manage opportunities. International Journal of Project Management Vol 20 (3) April 2002, P.235 -- 240
CEMEX:Strategic isk Management
CEMEX: Strategic isk Management
CEMEX is a leading producer of cement products. Headquartered in Monterrey, Mexico, CEMEX serves customers around the globe. Before the 1970s, CEMEX was a sleepy company, limited in scope to the domestic market, engaged in cement, mining, tourism and petrochemicals. ising through the ranks of the company his grandfather founded in 1906, CEO Lorenzo Zambrano focused the company on the world market for cement after divesting the non-core businesses. (Spieth, 2005)
isk Management as an Operational Competence
The single biggest risk to a company with a cement-only strategy is the requirement to commit substantial capital to factory-level plant and equipment, in the face of uncertain and fluctuating demand. This risk is heightened by the commoditization of the products and services which results in prices falling to the level of marginal cost during times when supply exceeds demand. Long-term, the natural ebb and flow…
Millman, Joel, December 11, 2008, Hard Times for Cement Man. Retrieved March 7, 2011 from http://online.wsj.com/article/SB122894691555195919.html
Lessard, Donald R. & Lucea, Rafel, May 2008, Embracing Risk as a Core Competence: The Case of CEMEX, MIT Sloan School and George Washington University.
Spieth, Scott, December 12, 2005, Cementing the Future: Hedging Foreign Currency Risk at CEMEX. Retrieved March 7, 2011 from http://people.hbs.edu/mdesai/IFM05/Spieth
Commercial aviation, therefore, warrants the highest attention to risk management, precisely by virtue of the obvious risks to life and limb first, and devastating financial consequences of materialized risks associated with commercial aviation operations.
Designing and implementing a comprehensive risk management program entails specific components to identify potential risks, evaluate their likelihood of occurrence, the magnitude of harm associated with them, and the interrelationship of their statistical likelihood and extent of potential harm they represent. Program implementation is, in many ways, merely the first step in a long-term comprehensive safety strategy for effective and economical risk mitigation, precisely because the complexities of risk management in commercial aviation.
Consequently, post-implementation procedural monitoring and regular follow-up are necessary to ensure proper redress of any operational oversights and inadequacies, especially those that come to light only retrospectively after initial program implementation. In this regard, statutory requirements are merely the first level of risk…
Accessed October 27, 2007, at http://www.faa.gov/library/manuals/aviation/risk_management/
U.S. Department of Agriculture Forest Service (2005).
Aviation Safety Center. Risk Management; Accessed October 27, 2007, at: http://www.fs.fed.us/fire/av_safety/risk_mgt/index.html
Protecting this proprietary pricing process is critical for the future of Ford's ability to win sales into the future. Ford Motor Company must focus on how to alleviate the many potential areas of pricing itself and pricing processes being compromised. What's needed is a risk management plan aimed at the dealer channel to alleviate the many financial risks to Ford Motor Company from trimmings its dealer ranks throughout the United States.
Ford's Need for a isk Management Plan
The risks specific to the isk Management Plan will include the following key sections, highlighting the need to manage risks by the probabilities of their occurrence, according to isk Management completed by the Department of Energy as it relates to best practices in risk mitigation and disaster recovery al;so apply to Ford Motor Company's dealer channel Department of Energy (2005). While specific to another industry the applicability of these key concepts are…
Carnegie-Mellon (1996) - Definition of Software Risk Assessment Concepts and Directions: -Retrieved from the Internet on October 15, 2006 at http://www.sei.cmu.edu/pub/documents/96.reports/pdf/tr012.96.pdf
Department of Energy (2006) - From the CIO's website for the U.S. Department of Energy, Retrieved from the Internet on October 15, 2006 at http://cio.doe.gov/ITReform/sqse/index.html
Risk Management (2005) - Acquisition and Program Risk Management Guidance - Volume 2: Chapter 4 -Retrieved from the Internet on October 15, 2006 at http://nasdocs.faa.gov/nasiHTML/risk-mgmt/vol2/04_ch_v2_01.html
All personnel need to be fully informed regarding risk management, particularly in terms of disaster, terrorism, or other unknown factors. Employees and employers therefore need to maintain an open communication system, through which risk management occurs as a dynamic rather than static system. Management should for example provide workers with the opportunity to offer suggestions relating to the current risk management manual. These can be communicated via spoken or written communication. Such a measure provides the opportunity to establish mutual trust within the company, which is vital if risks are to be handled effectively once they occur.
Inherent and environmental risks can also be handled via communicating in this way. By trusting employees to provide accurate information regarding ongoing risk factors, the management of an organization also provides such employees with a sense of trust and perceived importance. Such employees can then be inspired to provide the company with their…
The same does apply to security metrics such that these metrics establish the performance within the organization and the effectiveness of the organization's security.
The purpose of Risk Analysis is to spot and find security risks in the current framework and to resolve the risk exposure identified by the risk analysis. The type of security risk assessment for an organization is a function of a number of available assessments. However, the most important security protocol is to protect the organizations assets. Therefore, the most important security risk assessment for this purpose is the penetration testing proceeded by the vulnerability scan (Landoll, 2006). Protection of assets is of primary concern. Assets include both physical and non-physical assets. Non-physical assets are defined as assets that are not tangible. The Security Audit is indeed imperative, as is the Ad Hoc testing and Social Engineering test.
Campbell, G. (2010, What's state-of-the-art in…
Campbell, G. (2010, What's state-of-the-art in security metrics? Security Technology Executive, 20(9), 19-19. Retrieved from http://search.proquest.com/docview/823012983?accountid=13044
Campbell (2010) delves into the newest technologies currently used in security technology. Contract security guards, he contests, account for more than $16 billion in the United States, employing more than public law enforcement. Campbell proposes musing metrics developed for the senior management team as well as providing a methodology on how to determine a particular metrics application.
Institute For Security And Open Methodologies (ISECOM) Security Metrics -- Attack Surface Metrics.
The ISECOM provides information regarding the rav and its application as a metric in security protection. The attack surface metric aspect is the focus of the metrics developed and is the specific activity of the rav.
Contracts involve risks. How could these risks be mitigated? Be sure to explain which role (or roles) on the project team within the performing organisation are responsible for identifying and remedying the results when said risks materialise.
A number of inherent risks are woven into certain projects: for example, if the project manager is not sufficiently on task and driven to ensure compliance or underestimates the needs of the project, the project may go over-budget and over time. Due to changes in the organization's leadership "priorities could change in the middle of the project, rendering some objectives moot and elevating previously discarded concerns" (Melbye 2013: 9). Failure of third parties and contractors may result in delays or impingements of quality. The IT department may not adequately support project needs with appropriate computer software, causing delays.
A contract can mitigate risk by a "narrative description of the deliverable and a sample…
Melbye, D. 2013. Mitigating risks in IT contracts. Available:
[5 Dec 2013]
Another alternative for companies with uninsurable risks is mutualization. However, this category of insurance carries further risks that may not be suitable for all companies. The main problem is that mutual insurers require participants to be from a homogenous population, making this alternative unviable for a variety of clients. Some companies are however working on overcoming such problems to make mutualization less problematic for their investors.
Some insurance companies now recognize the main concern of organizations for cash flow in the event of a major loss. These insurers then offer such organizations solutions that guarantee cash flow in the form of a possible loan alternative, which is then to be repaid at a later time, when the company has mitigated its loss. Cash flow insurance can then be based upon income factors such as future royalties or rental income, that are generally not shown on current income statements.
GLOBAL FINANCE, INC. (GFI)
IT ISK ASSESSMENT PAPE
When it comes to the risk assessment of Global Finance, Inc. there were identified vulnerabilities that were occurring in the locations of Technical Security, Management, and Operational. Vulnerabilities at the company are looked at as being weaknesses that could possibly be oppressed by a group of threats or just threats in general. Basically, all of these vulnerabilities are able to be alleviated by safeguards that are recommended. These safeguards are security features and certain controls that, when included or added in the information technology environment, alleviate the risk that is connected with the operation to what are the manageable levels. However, a complete conversation of the vulnerabilities and suggested safeguards are discovered in this report. If the safeguards suggested in this risk assessment are not applied, the outcome could be alteration or damage of data, disclosure of sensitive information, or denial of…
Gregory, L.M. (2011). CISSP for Dummies. New York.
Krause, H.F. (2009). Information Security Management Handbook. New York City.
Risk Management: The Importance of Redundant Backups. (21, November 2012). Retrieved from Softlayer: http://blog.softlayer.com/2012/risk-management-the-importance-of-redundant-backups
The video game industry forms a significant part of the leading companies worldwide currently. The huge diffusion of the internet and associated information technologies over the recent years has raised the need of increased security. Advancement in technology consequently leads to the advancement of video games as well as associated security risks. Some of the common threats and vulnerabilities involving this industry include: misuse by human, hacking, fraud, virus attacks, among others. Such factors can facilitate adversities such as information loss and alteration, and unauthorized access. This paper identifies and assesses potential threats, malicious attacks, and vulnerabilities expected by the organization. It also gives the control procedures to mitigate the mentioned risks and vulnerabilities.
The Threats and Vulnerabilities
There are a number of dominant security threats involving technology and information that affect the organization. Such threats poise a serious disruption to the business continuity planning (BCP) cycle of…
Syed, R and Morh, S. (2011). IT Security Issues within the Video Game Industry. The International Journal of Computer Science and Information Technology. Vol. 3, No. 5.
80% of the vulnerabilities been discovered nowadays are from websites.
SQL injection occurs when an attacker uses SQL scripts to send information to the server by using the website forms and UL's. If, the website form data is not sanitized before been sent to the database it can lead to this attack. Without sanitization, an attacker can post any data they want directly to the database thus been able to access the information stored and alter the information if so desired. It is easy to make an SQL query, insert it into a form field with whichever parameters one desires and this would compromise the security of the website and its data. Using SQL injection, an attacker can capture sensitive information stored in the database like passwords or credit card details. To prevent this attack, the website developer will need to ensure that the website form fields do not accept…
Anandarajan, M. (2002). Profiling Web Usage in the Workplace: A Behavior-Based Artificial Intelligence Approach. Journal of Management Information Systems, 19(1), 243-266.
Cavusoglu, H., Mishra, B., & Raghunathan, S. (2004). The Effect of Internet Security Breach Announcements on Market Value: Capital Market Reactions for Breached Firms and Internet Security Developers. International Journal of Electronic Commerce, 9(1), 69-104.
Doerr, H.M., & Hecht, C.G. (1995). Navigating the Web. The Mathematics Teacher, 88(8), 716-719.
Hansen, L., & Nissenbaum, H. (2009). Digital Disaster, Cyber Security, and the Copenhagen School. International Studies Quarterly, 53(4), 1155-1175.
The diffused infrared configuration however, uses a transmitter that fills a given office space with signals. The signal receiver can then be located anywhere in the office area in order to successfully receive the I signal.
The Spread spectrum LANs
This form of arrangement utilizes the multiple-cell configuration. Each of the cells are appropriately assigned a unique center frequency that lies within a specific band in order to avoid signal interference. This transmission technique makes use of two methods; frequency hopping as well as direct sequence modulation
The Frequency hopping method uses signals that jumps from a given frequency to the other within a specific bandwidth. The transmission unit then "listens" to a give channel and if successfully detects any idle time (a time when no signal is transmitted),then transmits the packet via the full channel bandwidth .In case a channel is deemed "full," the transmitter then "hops" to the…
Bruce, WR (2002).Wireless LANs End to End, Ron Gilster (ed.), John Wiley & Sons.
Burell, J (2002) 'Wireless Local Area Networking: Security Assessment and Countermeasures: IEEE 802.11 Wireless Networks', Dec. 2002, retrieved 22 March
2011, < http://telecom.gmu.edu/sites/default/files/publications/Jim-Burrell-December-2002.pdf>
Cisco (n.d)"Cisco HWIC-AP WLAN Module for Cisco 1800 (Modular), 2800 and 3800."
isk esillience" concepts Operations Process Management examine statement: Preventive maintenance viewed process maintaining "health" a machine. Using health care analogy, explain differences tradeoffs breakdown maintenance, preventive maintenance total productive maintenance, detailed case study required apply theory model concept.
The importance of preventive maintenance
The emergent challenges facing economic agents have created a context in which the machineries and the equipments are no longer perceived as the primary source of income, nor as the operational focus of the economic agents. Today, entrepreneurs strive to attain their organizational goals through the satisfaction of the customer needs, through the motivation of the employees, through the pleasing of the community or through the creation of value for the shareowners.
In such a context, the emphasis placed on the purchase, replacement and functioning of the organizational machineries has decreased. But much like a paradox, despite the decreased investments in machineries, the company and…
Roberts, J., 1997, Total productive maintenance, New Mexico State University, http://engr.nmsu.edu/~etti/fall97/manufacturing/tpm2.html last accessed on May 11, 2011
1999, MRC Bearings' TPM journey: from totally painted machines to taking pride in our machines, Maintenance Resources, http://www.maintenanceresources.com/referencelibrary/ezine/tpmcasestudy.htm last accessed on May 11, 2011
Business resilience, Janellis Business Consulting Services, http://www.janellis.com.au/html/s02_article/article_view.asp?art_id=207&nav_cat_id=204&nav_top_id=77 last accessed on May 11, 2011
Preventive maintenance, Reliability Engineering Resources, http://www.weibull.com/SystemRelWeb/preventive_maintenance.htm last accessed on May 11, 2011
Risk Plan Outline Anheuser-Busch. Your Course Project assignment prepare a Risk Plan Outline give direction paper.
Survival in a constantly expanding business environment
Investing more finances in the first years of the enterprise
Liquor liability insurance
Having the market interested in the product
The right marketing company
The right retailer
The right attitude
Dealing with financial obligations correctly
Direct finances effectively and on time
Promote products depending on the amounts available
Concentrate on communicating with the market
Legal aspects of the business
Devising selling strategies depending on the states the company is selling its products in
Playing an active role in campaigns meant to promote moderation in drinking
c. Cooperating with the authorities
a. Making sure all workers are well-acquainted with regulations they need to follow
b. Having all machineries inspected on a frequent basis
c. Promoting a clean working environment
X. Devising strict risk tolerance…
Esslinger's book is a thorough account regarding the complete beer-making process and the numerous economic, marketing, and social elements that are involved in it.
Whaley, R.E. "Derivatives: Markets, Valuation, and Risk Management," (John Wiley & Sons, 26 Feb 2007)
This book relates to the relationship between market research and being in charge of a brewery. Risk management is essential in making it work properly and marketing is thus one of the most significant aspects of the whole brewing process.
In terms of the management of the risk, this can be completed through either one or more of the following techniques: (1) mitigation of the risks; (2) transfer of the risk from one unit to the other, one project to the other and so on; (3) the acceptance of the risk; (4) the avoidance of the risks; (5) the communication of the risks and the search for risk management strategies, and last, (6) the implementation of the risk management strategies (Elky, 2006).
Once the company has decided to accept and mitigate the risk, it has several solutions to managing the risk. Steve Elky at the SANS Institute points out that there are at least five methods for risk management, namely the NIST methodology (National Institute of Standards and Technology), the OCTAVE methodology, the FAP methodology, the COBA methodology and the isk Watch methodology. The challenge at this level is for…
Collier, P.M., Agyei-Ampomah, S., 2009, CIMA official learning system performance strategy, 6th edition, Elsevier
DuBrin, A.J., 2011, Essentials of management, Cengage Learning
Elky, S., 2006, An introduction to information system risk management, SANS Institute, http://www.sans.org/reading_room/whitepapers/auditing/introduction-information-system-risk-management_1204 last accessed on July 10, 2012
Cobit 5: a business framework for the governance and management of enterprise IT, ISACA http://www.isaca.org/COBIT/Pages/default.aspx last accessed on July 10, 2012
How the threats are detected
Ever since the September 11, 2001 terrorist attacks, businesses have had to critically rethink on the level of adequacy of their disaster recovery arrangements in relation to their business continuity plans as noted by Lam (2002,p.19). The September 11, 2001 tragedy effectively highlighted the importance for organizations to continue with their commercial operations even under the most exceptional of circumstance. My business which has a considerable e-commerce operation is particularly vulnerable to the IT related threats. It is therefore crucial that these threats be identified and eliminated or mitigated before they result to loss of revenue.
In my business, I face several threats. However, the ones that I consider most dominant are technology threats and information threats. These threats can cause a major disruption to the to business continuity planning (BCP) cycle. Technology threats include natural disasters like fire and flooding,…
Lam, W (2002).Ensuring Business Continuity. IT Pro. Available online at http://paul-hadrien.info/backup/LSE/IS%20490/Ensuring%20Business%20continuity.pdf Accessed on 3/5/2012
Snedaker, S (2007). The Best Damn IT Security Management Book Period. Syngress
Audit Management DQ
Consider the governance of the company owning ana Plaza and describe the regional expectations as well as best practice in this area and the benefits that adoption brings. Evaluate the governance of ana Plaza during and after the collapse of the building against these and explain how this helped or hindered ana Plaza.
The management of ana Plaza failed to ensure employee safety. In such a case, workers and suppliers equate the weakest points in relation to conditions of order and input dependency, footloose sourcing practices, and hand-to-mouth contracting. One of the incidents that happened in 2013 at Sadia Garments Ltd. saw new unionized workers facing aggressive campaigns on factory management (Ayres, 2014). Workers faced threats of violence while lead organizers were sent death threats. Later, one factory supervisor attacked the Union General Secretary for Sadia Garments with a pair of scissors while demanding for the resignation…
Ahmed S. & Lakhani, L. (2013). Bangladesh Building Collapse: An End to Recovery Efforts, a Promise of a New Start. CNN. Retrieved November 10, 2014 from http://www.cnn.com/2013/05/14/world/asia/bangladesh-building-collapse-aftermath/index.html?iref=allsearch
Ayres, A. (2014). A Guide to the Rana Plaza Tragedy, And Its Implications, In Bangladesh. Forbes. Retrieved November 10, 2014 from http://www.forbes.com/sites/alyssaayres/2014/04/24/a-guide-to-the-rana-plaza-tragedy-and-its-implications-in-bangladesh/
BBC Bengali Service (2013). Bangladesh factory collapse toll passes 1,000. BBC Bengali Service. Retrieved November 10, 2014 from http://www.bbc.com/news/world-asia-22476774
Benettongroup.com (2014). Benetton Group Backs an Initiative In Support Of the Victims of Rana Plaza and Their Families. Benettongroup.com. Retrieved November 10, 2014 from http://www.benettongroup.com/archive/press-release/benetton-group-backs-initiative-support-victims-rana-plaza-and-their-families
isk Management: Disaster ecovery
In essence, disaster recovery has got to do with protecting an organization against events of a negative nature and their effects/impact. Such events include, but they are not limited to, failure of equipment, serious cyber attacks, and natural disasters such as hurricanes and earthquakes. All these put the operations of the organization at risk. This text concerns itself with practical risk management. In so doing, it will, amongst other things, address the need for disaster recovery and highlight the key components of a disaster recovery plan.
The Need for Disaster isk Management
The relevance of disaster risk management cannot be overstated. This is particularly the case given that disasters put the continued operations of an enterprise at risk. It is important to note that in the past, many businesses have had to contend with huge losses when disasters strike. This is more so the case when…
Doig, J. (1997). Disaster Recovery for Archives, Libraries and Records Management Systems in Australia and New Zealand. Wagga, NSW: Center for Information Studies.
EC-Council. (2010). Disaster Recovery. Clifton Part, NY: Cengage Learning.
Rodriguez, R., Quarantelli, E.L. & Dynes, R. (Eds.). (2006). Handbook of Disaster Research. New York, NY: Springer Science & Business Media.
Snedaker, S. (2013). Business Continuity and Disaster Recovery Planning for IT Professionals (2nd ed.). Waltham, MA: Elsevier.
Operational risks tend to focus on employees, and finding ways to ensure that employees are not a source of reduction in the wealth of the company. Among the operational risks that were identified in Horcher (2005) were those related to training, fraud, theft, as well as managing exposures to certain risks that arise in the course of operations. There have been many examples of operational failures over the years. While most fraud is going to occur at the highest levels of the organization (i.e. Enron), in other companies operating issues have been the problem.
One such instance was with Subway, which faced a salmonella outbreak in the UK (Poulter, 2008) in a major outbreak, but has also faced similar situations in Canada (Mickleburgh, 2011), and the U.S. As well (Blau, 2012; Falkenstein, 2010). Food poisonings increase the risk of legal action that could devastate franchisees and can have…
Blau, R. (2012). Subway restaurants have been closed for health violations more than any other chain in the city. New York Daily News. Retrieved December 12, 2014 from http://www.nydailynews.com/new-york/subway-restaurants-closed-health-violations-chain-city-article-1.1063271?localLinksEnabled=false
CDC. (2014). Overview of attribution of foodborne illness. Center for Disease Control. Retrieved December 12, 2014 from http://www.cdc.gov/foodborneburden/attribution/overview.html
Falkenstein, D. (2010). Subway lawsuits and food poisoning claims. Food Poison Journal. Retrieved December 12, 2014 from http://www.foodpoisonjournal.com/foodborne-illness-outbreaks/subway-lawsuits-and-food-poisoning-claims/
Horcher, K. (2005). Essentials of Financial Risk Management John Wiley & Sons: Hoboken, NJ.
isk Assessment and Management
isk management refers to s strategies adopted by an organization in order to protect itself from the foreseeable and unforeseeable dangers related to its operations. This is possible when a proper assessment of the risks and their causes is done. Uncertainties in a business may come from the change in government policy, shift in tastes and preferences, and fall in demand in the market (McClure, 2011). This study identifies ways in which business operations can be improved through proper risk assessment and management strategies.
Ways to assess risk
isk assessment in a business requires the use of several metrics and measures such as market and performance analysis in its operations (Adams, 1999). In the present times in most businesses, the role of management much includes risk management. It also includes the making of plans to incorporate all the stakeholders in the firm for the purposes of…
Adams, J. (1999). Risky Business: The Management of Risk and Uncertainty. London: Adam Smith Institute (Electronic Resource).
Borodzicz, E.P. (2005). Risk, Crisis, and Security Management. New York: Wiley
Briggs, R., & Edwards, C. (2006). The Business Of Resilience: Corporate Security For The 21st Century. Demos (Organization: London, England) 2006 (Electronic Resource)
Hood, C., & Jones, K.C. (1996). Accident and Design: Contemporary Debates In Risk Management. London: Routledge
isk Management Plan for Exxon Mobil
A risk management process is a systematic application of management policies for the purpose of identifying, analyzing, evaluating and mitigating any possible risks within an organization. The following paper focuses on formulation of risk management plan for Exxon Mobil, one of the world's most renowned oil and gas companies. The risks would be identified and selected applicable to this firm and after their evaluation, a risk treatment plan would be advised.
Establish the isk Context
Identifying the Context for isk Assessment
eviewing current organizational processes
Being in the gas and power marketing department of the company, there are certain risks applicable within my area of operation. In order to clearly determine those risks, first, a comprehensive look at Exxon Mobil's organizational processes along with a SWOT analysis is presented. The firm is dedicated to create and maintain an environmental policy that would protect the…
Bastian, B.L. & Tucci, C. (2010). An empirical investigation on the effects of political risk on technology strategies of firms, presented at Summer Conference 2010, London, 2010. London: Imperial College London Business School. Retrieved from http://www2.druid.dk/conferences/viewpaper.php?id=501908&cf=43
Exxon Mobil. (n.d.). About us: How we operate. Retrieved from http://lubes.ExxonMobil.com/Lubes/about_how.aspx
Green Peace. (2011). Risks and potential impacts of oil exploration in the Arctic. Retrieved from http://www.greenpeace.org/international/Global/international/publications/climate/2011 / FinalArcticBriefing2011.pdf
Hirsch, A. (2011, June 17). Exxon Mobil accused of 'fraud' in Jacksonville gas spill trail. The Baltimore Sun. Retrieved from http://www.baltimoresun.com/news/maryland/baltimore - county/bs-md-co-exxon-trial-closing-20110617-story.html
City of Miami Gardens is vulnerable to natural hazards, particularly flooding because of the location of the area and extreme weather events like heavy rain. One of the major reasons for these extreme weather events that increase the likelihood of heavy rain and subsequent flooding is global climate change. Global climate change contributes to unprecedented weather incidents through which the earth cools and warms over geologic time. While the city has created canal systems and neighborhood drainage system to help in drainage of water during periods of heavy rainfall, the problem of flooding continues to persist. When flooding occurs, it leads to considerable business disruptions, power outages, and other negative impacts on the community.
A hazard scenario in this area would involve a series of storms that are characterized with heavy rains for several weeks. The city's weather department has issued warnings that the heavy rains will continue for several…
"Flood Awareness." (n.d.). Miami Gardens. Retrieved from City of Miami Gardens, Florida
"Flood Emergency Response Plan." (2004). FM Global. Retrieved June 23, 2014, from http://www.fmglobal.com/shamrock/p0589.pdf
"Floor Risk Assessment." (2014, May). Floodplain Mitigation Plan. Retrieved from Town of Cutler Bay, Florida website: http://www.cutlerbay-fl.gov/announcement/1403186000_DRAFT%20Floodplain%20Mitigation%20Plan_Cutler%20Bay%20Risk%20Assessment%20Section.pdf
Enterprise isk Management
The difference between enterprise risk management and traditional risk management
Traditional risk management focuses on pure risks. In this context, pure risks are defined as risks involving losses or no losses. The condition of a pure risk does not allow for a favorable outcome than the current situation. Owning a home is a typical example of a pure risk. The home might be hit by an earthquake, burn down or be infected by insects. If none of these happens, then the owner will not be in a position for losses (Damodaran, 2008).
Traditional risk management focuses on pure risks because of various reasons. People who worked in the insurance field developed and taught the concept of risk management. The focus tends to be on risks, which insurers could be willing write. The job duties of some risk managers are limited to purchasing insurance as many other options…
Damodaran, A. (2008). Strategic risk taking: A framework for risk management. Upper Saddle River, N.J: Wharton School Pub.
Tonello, M., & Conference Board. (2007). Emerging governance practices in enterprise risk management. New York, N.Y: Conference Board.
isk management in healthcare organizations includes activities that integrating the recognition of risks, assessments of risks, coming up with strategies to be used and mitigation of these risks that have been identified. The focus on this paper is how to proactively prevent risks in healthcare organizations. The area of focus in financial risk management is risks that are managed using trade financial instruments such financial management systems, appropriate EM, coding, billing, collections, general accounting, budgeting, expense management, managed care contract strategy and vendor relations processes. isks are unavoidable and are present in every human situation .T he most common concept that appears in all definitions of risks is the uncertainty of the outcomes involved in the risks. Due to the uncertainty of the nature of risks the healthcare systems should have proactive measures in place to ensure that these risks are prevented and do not take place at…
University of California (2008). Ways to Reduce Risk. Retrieved March 24, 2014 from http://map.ais.ucla.edu/go/1000570
ECRI Institute ( 2010). Sample Risk Management Plan for a Community Health Center Patient Safety and Risk Management Program. Retrieved March 24, 2014 from http://bphc.hrsa.gov/ftca/riskmanagement/riskmgmtplan.pdf
Berg H., (2010). Risk Management: Procedures, Methods and Experiences. Retrieved March 24, 2014 from http://gnedenko-forum.org/Journal/2010/022010/RTA_2_2010-09.pdf
The World Bank Group, (2014).Better Risk Management Can Unlock Opportunities, Prevent Crises, and Protect Poor amidst Disasters and Shocks, Says World Bank . Retrieved March 24, 2014 from http://www.worldbank.org/en/news/press-release/2013/10/06/better-risk-management-unlock-opportunities-prevent-crises-protect-poor-amidst-disasters-shocks
Managing isks of Large-Scale IT Projects
Designing and implementing an effective online national learning system that can scale to securely support 30,000 employees across Colorado, Illinois, Florida and Texas in addition to supporting advanced professional development applications, calendaring, data uploads and downloads and social media is fraught with risks. There are many potential risks to this system both at the user adoption and technology-related levels. The intent of this analysis is to list the most significant risks, followed by the defining of the top two. These two most significant risks will have a plan developed to mitigate their potential impact on the project. Empirical studies indicate that knowledge-based IT projects have the greatest risk in that they include the most amount of change management (Alhawari, Karadsheh, Talet, Mansour, 2012). With a system such as the one designed there is also the paradox of significant value being delivered while…
Alhawari, S., Karadsheh, L., Talet, A.N., & Mansour, E. (2012). Knowledge-based risk management framework for information technology project. International Journal of Information Management, 32(1), 50.
Ali, S., & Green, P. (2012). Effective information technology (IT) governance mechanisms: An IT outsourcing perspective. Information Systems Frontiers, 14(2), 179-193.
Besner, C., & Hobbs, B. (2012). The paradox of risk management; a project management practice perspective. International Journal of Managing Projects in Business, 5(2), 230-247.
de Bakker, K., Boonstra, A., & Wortmann, H. (2012). Risk managements communicative effects influencing IT project success. International Journal of Project Management, 30(4), 444.
Sport Stadium Risk Assessment
Sport venue management face challenges in determining the level of a potential threat (Hall). Risk must be identified, measured, and evaluated to be effectively managed. It should include assessments for threats, vulnerabilities, and criticalities for information that helps to protect critical assets, physical and human, against terrorist attacks and other threats, such as fan behavior that can cause harm to others or physical assets. Protection measures can include access control, use of CCTV security cameras, adding lighting, performance of background checks, credentialing, checking backpacks, enhancing communication networks, as well as developing and updating emergency response and evacuation plans.
There are three types of risks that need to be assessed. Mission risk prevents the organization from accomplishing goals and missions. Asset risk can harm physical assets. And, security risks can potentially cripple actual data and people. These risks are identified by surveys, inspections, employee interviews, and the…
Hall, S., Marciani, L. Cooper, W.E., & Rolen, R. "Introducing a Risk Assessment Model for Sport Venues." The Sport Journal, 10(2), ISSN: 1543-9518 (2007). Retrieved from http://www.thesportjournal.org/article/introducing-risk-assessment-model-sport-venues .
Hall, S., Marciani, L., & Cooper, W. "Sport Venue Security: Planning and Preparedness for Terrorists-related incidents." The Smart Journal, 4(2) (Spring/Summer 2008). Retrieved from http://www.thesmartjournal.com/venues.pdf .
Ecological Preservation at the Hart of Dynamic Boca de Iguanas Development (2008) St. Michael Strategies (SMS) Press Release. PR.com online available at http://www.pr.com/press-release/35513
Jeffrey Chow, Raymond J. Kopp, Paul R. Portney. (2003). Energy resources and global development. Science, 302(5650), 1528-31. Retrieved September 5, 2008, from Research Library database. (Document ID: 490116241).
Mattson, K.M., and Angermeier, P.L. (2007) Integrating Human Impacts and Ecological Integrity into a Risk-Based Protocol for Conservation Planning Journal of Environmental Management Vol. 39, No. 1 Jan 2007. Online available at http://www.springerlink.com/content/t13674l78j31jq05/
Maximizing building performance: through environmental strategies (2003) Buildings 1 July 2003. Online available at http://www.allbusiness.com/operations/facilities/601308-1.html
Negative Secondary Impacts from Oil and Gas Development (nd) the Energy & Biodiversity Initiative. Online available at http://www.theebi.org/pdfs/impacts.pdf
Santopietro, George D. (2005) Raising Environmental Consciousness vs. Creating Economic Incentives as Alternative Policies for Environmental Protection Journal; Journal of Economic Issues, Vol. 29, 1995. Excerpt online available at http://www.questia.com/googleScholar.qst?docId=5000322449
Hazard Mitigation and Preparedness (U.S. Federal Programs: Advantages and Disadvantages)
The confrontations and prospects for the reduction of hazards/disasters have never been greater than in the current period. In theory, the challenge is to do away with all disasters that cause the loss of life or injury to people along with the property and environment damage. On the other hand, such a goal is not possible to achieve practically. Although it is possible to avoid certain risks but the elimination of environmental hazards seems to be an idealistic task (Smith, 2004, p. 268).
The evidence signals that there is a need to do more today for tomorrow. Though investment in hazard mitigation has increased, there are few signs that show the effectiveness of the sustainability plans. In United States of America, several plans are outlined that have lessened the number of casualties and scale of destruction (Smith, 2004, p. 268).…
About FEMA. (2011, November 14). In FEMA. Retrieved November 28, 2011, from http://www.fema.gov/about/index.shtm
"About the National Dam Safety Program." (2010, August 11). Retrieved December 09, 2011 from http://www.fema.gov/plan/prevent/damfailure/ndsp.shtm
Bernard, E.N. (2005). The U.S. National Tsunami Hazard Mitigation Program: A Successful State -- Federal Partnership. Springer, 35, 5-24. Retrieved December 07, 2011 from http://www.hawaiistateassessment.info/library/Hawaii_Coastal_Hazards/Document_Library/GENERAL MITIGATION/Bernard USA Tsunami Mitigation.pdf
Edwards, F.L., & Afawubo, I. (2008). Show Me the Money: Financial Recovery after Disaster Professional Emergency Management, Physical Mitigation, Public Education, and Financial Assistance Can All Lessen the Impact of Post-Disaster Community Recovery Costs. The Public Manager, 37(4), 85+. Retrieved December 9, 2011, from Questia database: http://www.questia.com/PM.qst?a=o&d=5035928141
Kitchen emodeling Project: Mitigating Future isks
Please Betty You initiating assembly risk opportunity plan. The plan finalized reflection impact risks opportunities identified addressed activity 7. Your challenge activity review template basic portions risk opportunity plan omissions errors, oversights.
In order for the kitchen remodeling project to succeeds, there is need to ensure there if effective risk management in order to guarantee an increase in the opportunities available and that risks that arise are mitigated to reduce their effects on the project Beans, 2011.
The type of risk, degree of impact of the risk, likelihood of the risk, prioritization of the risks, tasks that have been effected to date, and mitigation strategies for the risk are important in developing the final risk management plan. This helps to ensure the project manager understands all that is expected and foreseen for the project and also that they develop an effective strategy for any…
Alviniussen, A., Jankensgard, H., & forskning, L. u. I. f. e. (2009). Enterprise Risk Budgeting: Bringing Risk Management Into the Financial Planning Process. Lund, Sweden: Lund Institute of Economic Research, Lund University.
Banaitien?, N., Banaitis, A., & Norkus, A. (2011). Risk management in projects: peculiarities of Lithuanian construction companies. International Journal of Strategic Property Management, 15(1), 60-73. doi: 10.3846/1648715X.2011.568675
Beans, K.M. (2011). Operational Risk Management: Sorry, There's No 'Easy Button'. The RMA Journal, 07(01).
("Lessons from New Orleans," 2005, pg. 58)
The idea behind relying on ones self to provide a backup plan for communication is only truly realized when mitigation occurs. The infrastructure of the local, state and federal governments may seem strong, but the idea that individuals and individual organizations will have less to deal with in quantity, when it comes to meeting people's immediate needs in a disaster, and can therefore ensure a better quality of response is one that all emergency managers should learn from this particular mitigation situation. Communication is key to ensuring a reduced loss of life as well as resources. One lesson learned was that the most successful of organizations in the process of communication, in the Katrina disaster were those that recognized that people came first and property second, as the largest asset of any business or region is the people who are employed by it…
Baum, K. (2003, September). Austin's Integrated Homeland Security Approach. Public Management, 85, 28-37.
Lessons from New Orleans. (2005, November). Security Management, 49, 58-62.
Mileti, D.S. (2004) Disaster By Design: A Reassessment of Natural Hazards in the United States. Washington DC: Joseph Henry Press.
Storm Forces Officials to Rethink Plans for Elderly. (2005, September 12). Sarasota Herald Tribune, p. A1.
Due to the Act North Carolina implemented a program known, as Advance Infrastructure Mitigation (AIM).It is a program designed to assist North Carolina's counties develop an infrastructure mitigation plan. This plan is now a requirement for counties following adoption of the Disaster Mitigation Act of 2000 by Congress and Senate Bill 300 an Act to Amend the Laws egarding Emergency Management, by the North Carolina General Assembly. (NCDEM, 2000)
This act helped insure that everyone is making viable efforts towards having emergency plans in place, by implement consequences for failure to comply with these regulations gives further support, and stresses the importance of having a current plan in place.
North Carolina Division of Emergency Management (2000). Disaster Mitigation Act of 2000. etrieved June 16, 2007, at…
North Carolina Division of Emergency Management (2000). Disaster Mitigation Act of 2000. Retrieved June 16, 2007, at http://www.dem.dcc.state.nc.us/PA/dma_2000_detail.htm
A related case of Toxic Torts occurred in East Anglia, where chemicals from a factory seeped into a dam (Barcelona Field Studies Centre, 2009).
The best risk management method is prevention. While Alumina's current situation is somewhat dire, the company can learn from its mistakes and attempt to prevent the same thing from occurring in the future. One measure that can be taken in this regard is to fully assess the current situation in terms of the amount of danger caused, the amount of people affected, and the mitigation measures necessary to eliminate the health risk. A cost analysis should also be conducted to quantify the financial risk, especially in the future (.
The risk of public image can be mitigated by taking the option of settlement via arbitration or mediation. Alumina's guilt and wrongdoing cannot be denied. Being subjected to a court battle that will probably be lost is…
Barcelona Field Studies Centre. (2009). Donana National Park: Causes and Effects of Toxic Waste Pollution. http://geographyfieldwork.com/DonanaCauses.htm
Landlin, David C. (2005, Aug.). Current Trends in Toxic Tort Litigation. Risks Management Magazine. Retrieved from http://www.hunton.com/files/tbl_s47Details%5CFileUpload265%5C1238%5CLandin_Toxic-tort.pdf
Airports need to also have a well-trained MANPAD threat response team that is familiar with combating MANPAD type weapons and tactics. This team needs to have the ability to respond quickly and effectively to any terrorist threat, with emphasis on MANPAD threats and attacks. Even after a MANPAD attack occurs, those in the aircraft as well as those on the ground need to understand how to respond effectively to reduce the possibility of further damage or attacks.
2 ?" Examine the issue of planning the airport of the future in terms of minimizing the MANPAD threat. It is far easier to build systems into new designs than it is to attempt to modify existing ones.
Since large airports are relatively costly and require permanent structures, it is much easier to build anti-MANPAD systems and strategies into new airports than it is to attempt to modify older, existing airports. Existing airports…
Federal Aviation Administration. (2007). National Strategy for Aviation Security.
Federal Aviation Administration. (2007). Aviation Transportation Security Plan.
Transportation Security Administration. (2006). Recommended Security Guidelines for Airport
Planning, Design, and Construction.
The main hazards related to LNG include:
upture due to Corrosion
upture while excavation
upture while excavation
upture during an earthquake
upture due to mechanical failure
upture at compressor
upture at inspection stations
Uncontrolled detonation of explosives
Blow-out of gas at head and subsequent fire
Gas leak from infrastructure
Fire involving combustible
LPG or Diesel
Diesel pump fire involving equipment brittle fracture valve Leaks
Welding failure welding casting failure
Mechanical overstressing of equipment Vibration
Failure due to external loading or impact
Underground pipe rupture of transmission pipeline
Pipe rupture at main line valve sites.
upture of adjacent gas pipeline
Uncontrolled detonation of explosives
Gas leak from pipeline infrastructure
Drop of pipe from pipe lifts
Accommodation fire involving combustible construction LPG or Diesel
Diesel fire involving mobile fuel tanker
Uncontrolled release of LNG
Uncontrolled release of refrigerant gas
Uncontrolled release of by- product…
Acutech Consulting (2009). The HAZOP (Hazard and Operability) Method
American Petroleum Institute (August 2009). Analysis of U.S. Oil Spillage. p26
Accountability for Dangerous Mitigation Efforts
When the Chernobyl nuclear accident took place, the response framework was nowhere near what it should have been. As such, many people died and many others became sick in later years from the effects of the radiation to which they had been exposed (Cheney, 1995). The main reason behind so much sickness and death was that the workers at the nuclear plant did not recognize or acknowledge the severity of the incident. Even with pieces of the reactor lying on the ground around them, they still felt that they could still pump water into the reactor and stop any further problems (Medvedev, 1991). In the meantime, there was so much radiation being released that the workers who were in the plant ended up dying within days from the heavy doses of radiation they received. They did not put on protective gear. Some of the workers…
Cheney, G.A. (1995). Journey to Chernobyl: Encounters in a Radioactive Zone. Chicago: Academy.
Medvedev, G. (1991). The Truth About Chernobyl. VAAP. New York: Basic Books.
When the risk is significant, this should be quantified against the risk of not entering the specific country in terms of expansion. When the risk is acceptable, stringent measures, including organizational arrangements, engineering control, and research and development, need to be taken. Research and development are particularly important, as mitigation measures can then be implemented that are particularly targeted towards the measure of possible terrorist attack for the country involved. Reducing the likelihood of terrorist attack can in certain cases be a better response to terrorist threat than avoidance, as it mitigates many of the additional risks involved in the latter.
Thirdly, reducing the consequences of terrorist attacks is a retrospective approach. This is done by measures such as contingency planning, recovery plans, design features, surveillance, and the like. uch measures are best implemented by learning from the past experiences of terrorist attacks on the company involved, or indeed from…
Campion, Kevin. 2002, Nov. 15. Integrating Terrorism Risk Management with the Federal Terrorism Program. Benfield Blanch, Inc. http://www.benfieldgroup.com/NR/rdonlyres/2319B84C-7C18-4280-B057-839E6F0243D5/0/11_02BB.pdf
Gould, Nathan C. 2004, July. Managing Terrorism Risk. ABS Consulting. http://www.irmi.com/Expert/Articles/2004/Gould07.aspx
Parachini, John. 2000, Jul. 26. Combating Terrorism: Assessing Threats, Risk Management, and Establishing Priorities. Center for Nonproliferation Studies. http://cns.miis.edu/pubs/reports/paraterr.htm
Internal entities therefore bear the burden of the company's interest, making the risk identification process subjective, and compromising it to the eventual disadvantage of the company. Here also it is advisable that entities from the outside be involved in the process.
The risk quantification process refers to assessing the scale of severity in the risks identified. When a risk is identified, resources need to be allocated in order to mitigate it. Severe risks will therefore require a greater amount of resources, while lower severity also means lower priority. Quantification therefore results in prioritizing. This is a process that can then mitigate the financial resources necessary for preventing the risk factors involved.
In the quantification process, however, ambiguity and subjectivity are also detrimental factors. Ambiguity for example means that there is uncertainty regarding which priority to assign to which levels of risk. Once again, subjectivity works in concomitance. Internal risk teams…
Project Risk Management risk is defined as an uncertain event or condition that, if it occurs, will affect one's project objectives, targets, or goals. A risk may have a positive or a negative effect: it may help or hinder one's project. However, since there are usually far more things that are likely to go wrong with a project than are likely to go right, risk management deals with negative aspects. Risk management largely is the art of trying to prevent things going wrong with projects.
One must analyze the project objectives to determine what is, or is not, a risk. Every project is defined by its objectives - which is just another way of saying that every project is defined by what it is trying to achieve. Most projects have four key objectives. The objectives are as follows: (1) Functionality -- the characteristics or performance of the project deliverables; (2)…
Davion Systems, (2003). Project Risk Management - An Overview. Accessed on September 11, 2003, at http://www.davion.com/index.html#top .
The advantages of a qualitative analysis approach are that it overcomes the challenge of accurate calculations of figures for asset value, cost of control etc. In a way less demanding procedure on the staff. Qualitative risk management projects can normally start to display noteworthy results in a matter of weeks, on the other hand those institutions or businesses that choose to employ a quantitative approach may experience limited benefit over months, or even a number of years of effort. The disadvantage of a qualitative analysis is that the consequential data is hazy and quite a number of strict decision makers, particularly the ones who have accounting backing or finance knowledge, may be hesitant to use the relative figures during a qualitative risk assessment.
The use quantitative approaches however also have got a number of drawbacks which include the following;
Dependence upon the scope and accuracy of specific measurement scales.
Artur Rot, (2008). It Risk Assessment: Quantitative and Qualitative Approach it Risk
Assessment: Quantitative and Qualitative Approach Proceedings of the World Congress on Engineering and Computer Science WCECS 2008, October 22-24, 2008, San Francisco, USA.
Vocus PRW Holdings, LLC. (2010). Significant Risks Identified in Information Technology
(it) Project Management. Retrieved April 20, 2011 from http://www.prweb.com/releases/Vonya_Global/IT_Project_Management/prweb4328924.htm
HSMS Gap Analysis and Hazard Identification Risk Assessments
Description of APM Terminals
Review of the Health and Safety Management System
Health and Welfare Hazards
Physical Hazard -- Working at Height - Scaffolding
Health & Welfare Hazard -- Noise
Action Plan 1 - Management System
Action Plan 2 -- Hazards and Risks
Barbour Checklist: BS OHSAS 18001 Audit Checklist
Occupational health and safety management has numerous benefits for business, not only an employer's duty of care, a legal and moral obligation but also critical part of business equal in importance to other business functions like finance, marketing and production. When health and safety is embedded as part of business, results would be, good company image and reputation, better employee motivation and morale, improved efficiency and ultimately increased profitability.
The implementation of a sound health, safety and environment (HSE)…
An organization's "operational risk" is not something that can be avoided. It arises simply because the organization is in operation (i.e. doing business). Despite the fact that the risk cannot be removed, there are ways in which it can be minimized or mitigated (Alexander & Sheedy, 2005). These ways generally come from establishing controls that work well with the organization and its operations. The key is to avoid being too restrictive while still ensuring that the most important areas of the organization are protected and cared for properly (Alexander & Sheedy, 2005). One of the best ways to mitigate risk is through a good plan for business continuity. There are so many different types of operations risks that a business continuity plan must be very comprehensive. It should consider fraud, legal risks, environmental risks, and physical risks (Gorrod, 2004). By addressing all of them, the plan will be…
Alexander, C. & Sheedy, E. (2005). The professional risk managers' handbook: A comprehensive guide to current theory and best practices. PRMIA Publications.
Gorrod, M. (2004). Risk management systems: Technology trends (finance and capital markets). Basingstoke: Palgrave Macmillan.
This was further detrimental to the morale of existing workers, as they began to resent the striking section of the workforce for their situation. The managing team then determined that a management of change assessment was necessary.
The first step in this assessment was an assessment of the existing situations. Workers were beginning to suffer from extreme fatigue, resulting in outbursts of anger and potential fights. This created physical hazards in the underground workplace. Worker resentment and anxiety were also rising as a result. Because these elements were detrimental for concentration and awareness, the physical hazard of spending long hours in the underground environment also rose exponentially for each worker.
It was also determined that input from workers themselves and their division supervisors was needed. For this purpose, several meetings were held between employees and their supervisors, and then with supervisors and management. These helped determined the precise areas of…
The organizations are usually run by a core group, which divides the different responsibilities of an operation (e.g. spamming, web design, data collection) among the members. The members run their own outer networks to fulfill those responsibilities -- rarely even having contact with each other online. The decentralized structure of the internet, as well as the high levels of anonymity it provides makes it difficult for law enforcement agencies to locate cybercriminal groups. A group could have networks in a myriad of different countries, whilst using servers based in numerous different countries and jurisdictions. Furthermore, many national jurisdictions lack the legislative framework required to properly prosecute online crime." (Collins, 2012)
These insights are illustrating how the lack of self-control is creating a situation where more criminals or organizations are turning to cyber crime. What makes the situation worse; is they can work anonymously and be able to conduct these activities…
Casey, E. (2011). Digital Evidence and Computer Crime. London: Academic.
Collins, a. (2012). Contemporary Security Studies. Oxford: Oxford University Press.
Gregg, M. (2010). Hacker Techniques, Tools and Incident Handling. Sudbury, MA: Jones and Bartlett.
Gryzbowski, K. (2012). An Examination of Cyber Crime and Cyber Crime Research. (Unpublished doctoral dissertation). Arizona State University, Scottsdale.
The Current State, Objective and Future Trends of isk and disruption management in supply chains
States and Trends of isk and Disruption Management in Supply Chains
After suffering for years, managers' gain ground in supporting supply and demand market of today, yet the effective assessment of managing risk as well as disruption is still an active conversation amongst project managers. Management takes a new position and arranges new strategies to support potential critical paths in product development and distribution. The supply chain is now global, thanks to the help of the internet, and thus needs active plans to support the future growth of distribution of products to a diverse and otherwise complex sociological environment. By evaluating the current state, revealing potential trends and discussing the support of potential disruptions, a better understanding for problem solving and preventative measures will ensue.
The current state of affairs for…
Bartholomew, D. (2006). Supply Chains at Risk. Industry Week/IW, 255(10), 54.
Blanchard, D. (2009). Portrait of Best-In-Class Risk Management. Industry Week/IW, 258(2), 54.
Chopra, S., & Sodhi, M. (2004). Managing Risk To Avoid Supply-Chain Breakdown. MIT Sloan Management Review, 46(1), 53-62.
Craighead, C., Blackhurst, J., Rungtusanatham, M., & Handfield, R. (2007). The Severity of Supply Chain Disruptions: Design Characteristics and Mitigation Capabilities. Decision Sciences, 38(1), 131-156. doi:10.1111/j.1540-5915.2007.00151.x.