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Risk and Financial Management in Construction
by Simon A. Burtonshaw-GunnIn today’s climate the need for a closer understanding of the relationship between the two inter-related topics of risk management and finance on construction projects is becoming increasingly crucial to achieving the objectives of the investor, the end-user and the constructor and its supply chain, especially as interest in PFI and PPP arrangements continues to grow around the world. Risk and Financial Management in Construction shows the relationship between the Construction Project Manager’s task of balancing time, cost and quality and the need to satisfy the client’s requirements efficiently, effectively and professionally whilst at the same time contributing to the contractor’s future sustainability. The book covers Risk Management describing the tools and methods to reduce the occurrence and consequences of risk, and the financial management of construction projects from raising funding, to contract strategy and through to estimating, budgeting and cost control. It includes a chapter covering international project risk, bringing together the issues of risk management, prime contracting, and PFI funding for construction projects undertaken away from the contractors main home market. Risk and Financial Management in Construction is aimed at those practising in, or studying to enter, the project management profession in providing a strategic and operational knowledge of these subjects allowing the reader easy access to the key points through a wide selection of models, checklists and easy to find lists in all of the key areas.
Risk and Food Safety in China and Japan: Theoretical Perspectives and Empirical Insights (Routledge Studies in Food, Society and the Environment)
by Louis Augustin-Jean Jean Pierre PoulainAround the world, food has probably never been as safe as it is today. However, periodic crises have aroused consumer anxiety and contributed to a general lack of confidence in the agro-industrial system. The diverse nature of these crises increases governments’ and industry difficulties in predicting and tackling them. This book addresses the relations between risk and food theoretically and empirically through case studies from Japan and China. Part I of the book examines the interaction between theoretical aspects and decision-making. The book theorizes the links between food and risk and analyses the decision-making process in light of risks and governance. The relationship between food risks, governance systems and economic decisions is assessed to explore ideas such as the "pact of nutrition" and the theory of weak signals. Part II examines case studies from China and Japan in the aftermaths of recent crises such as the milk powder scandal in China and food safety following the Fukushima nuclear accident and tsunami in Japan. This book will be an important resource for scholars, academics and policy-makers in the fields of sociology, economics, food studies, Chinese studies and Japanese studies and theories of risks and safety.
Risk and Hazard Management for Festivals and Events
by Peter Wynn-MoylanEvents of all types are produced every day for all manner of purposes, attracting all sorts of people. To provide a safe and secure setting in which people gather is imperative. Event risk and hazard management must be fully integrated into all event plans and throughout the event management process. Hazard management is the planning process required for the effective management of potential adverse incidents and areas of uncertainty. It involves intensive, detailed planning and cooperation to apply control systems to minimise hazards associated with venues, outdoor sites, work procedures, facilities, equipment and crowds of spectators. It involves planning for emergencies and security, and compliance with legal constraints and requirements. Risk and Hazard Management for Festivals and Events provides students with a comprehensive, fully integrated planning and management mechanism that can be applied to events of all types and size. The Event Safety Management System provides guidelines and processes for proactive methods to identify, assess and control hazardous conditions and practices. The system incorporates design of festival venues and sites, and unites the operational functions of crowd control, communications, security, terrorism prevention processes and emergency response protocols. Explanation of the causes of crowd disasters and studies into crowd behaviour are supported with international case studies. Written in an accessible, practical way, this book is essential reading for all events students and event managers.
Risk and Insurance: A Graduate Text (Probability Theory and Stochastic Modelling #96)
by Søren Asmussen Mogens SteffensenThis textbook provides a broad overview of the present state of insurance mathematics and some related topics in risk management, financial mathematics and probability. Both non-life and life aspects are covered. The emphasis is on probability and modeling rather than statistics and practical implementation. Aimed at the graduate level, pointing in part to current research topics, it can potentially replace other textbooks on basic non-life insurance mathematics and advanced risk management methods in non-life insurance. Based on chapters selected according to the particular topics in mind, the book may serve as a source for introductory courses to insurance mathematics for non-specialists, advanced courses for actuarial students, or courses on probabilistic aspects of risk. It will also be useful for practitioners and students/researchers in related areas such as finance and statistics who wish to get an overview of the general area of mathematical modeling and analysis in insurance.
Risk and Insurance in Construction
by Nael G. BunniThose involved in construction have to cope with so much learning in their own discipline that they shun further involvement in subjects such as insurance and law which in themselves are so deeply and intensely complex. However, insurance and law are interwoven in the basic procedures used in the construction industry for undertaking work, be they design, construction, supervision or operation, or any combination of them. This thoroughly revised edition of Nael Bunni's successful book, formerly called Insurance in Construction, provides information on risk, construction law and construction insurance for those involved with all aspects of construction. The chapters on risk have been expanded to include recent developments in the area and provide further examples of events which could occur on what can be viewed as the most risky human work activity, namely construction. New chapters are also added to deal with the insurance clauses of the many new standard forms of contract published in recent years, including FIDIC's new suite of contracts published in September 1999, ICE's seventh edition of the civil engineering standard form of contract, and ICE's second edition of the design/build form.
Risk and Insurance in Construction
by Nael G. Bunni Lydia B. BunniThe new 3rd edition of Nael Bunni’s Risk and Insurance in Construction, now co-authored with Lydia Bunni, explains the need for insurance in construction and engineering projects and why it must be incorporated into the Conditions of Contract for such projects. It is unique in bringing together the background of the two topics of 'risk' and 'construction insurance', explaining the flow and the interaction between them and then dealing with how they have been used to formulate the 2017 FIDIC Suite of Contracts and the 2021 Green Book. This edition has been fully updated, and new chapters deal with the latest definitions of 'risk' outlined in ISO 31000: 2009, and specifically explains the principles embodied in the new Clauses 17, 18 and 19 of the Major Suite of the FIDIC forms of contract and how they should be used. An important chapter (Chapter 5) is included, discussing the logical transition from decision-making to risk identification to responsibility for those allocated with particular risks, to the potential liability that results. This includes discussing particular liabilities that may arise for parties typically involved in construction and engineering projects, including developers, owners, contractors and designers. This part of the book links insurance to the law and explains the interaction between the two topics. The correlation between liability and the need for indemnity, which can only be provided properly through insurance, is highlighted. The book is essential reading for practitioners from both the engineering profession and the insurance industry in all types of projects. Engineers who are required to use one of the Major Forms of the FIDIC Suite of Contracts, whether they are designers or contractors, and those involved in the insurance sector, whether brokers, claim consultants or insurance company personnel, will find this book to be an indispensable reference.
Risk and Interdependencies in Critical Infrastructures
by Ingrid B. Utne Per Hokstad Jørn VatnToday's society is completely dependent on critical networks such as water supply, sewage, electricity, ICT and transportation. Risk and vulnerability analyses are needed to grasp the impact of threats and hazards. However, these become quite complex as there are strong interdependencies both within and between infrastructure systems. Risk and Interdependencies in Critical Infrastructures: A guideline for analysis provides methods for analyzing risks and interdependencies of critical infrastructures. A number of analysis approaches are described and are adapted to each of these infrastructures. Various approaches are also revised, and all are supported by several examples and illustrations. Particular emphasis is given to the analysis of various interdependencies that often exist between the infrastructures. Risk and Interdependencies in Critical Infrastructures: A guideline for analysis provides a good tool to identify the hazards that are threatening your infrastructures, and will enhance the understanding on how these threats can propagate throughout the system and also affect other infrastructures, thereby identifying useful risk reducing measures. It is essential reading for municipalities and infrastructure owners that are obliged to know about and prepare for the risks and vulnerabilities of the critical infrastructures for which they are responsible.
Risk and Precaution
by Alan RandallThe precautionary principle has been labeled simplistic and the rational approach to decision-making under risk was modeled on well-specified games of chance. How then are we to manage the risks, uncertainties, and 'unknown unknowns' of the real world? In this book, Alan Randall unravels the key controversies surrounding the precautionary principle and develops a new framework that can be taken seriously in policy and management circles. Respecting the complexity of the real world, he defines a justifiable role for the precautionary principle in a risk management framework that integrates precaution with elements of the standard risk management model. This is explained using examples from medicine, pharmacy, synthetic chemicals, nanotechnology, the environment and natural resources conservation. This carefully reasoned but highly accessible book will appeal to readers from a broad range of disciplines, including environmental policy, risk management and cost-benefit analysis.
Risk and Regulation in Euro Area Banks: Completing the Banking Union (Palgrave Macmillan Studies in Banking and Financial Institutions)
by Francesca ArnaboldiSince the last financial crisis, much work has been undertaken to strengthen the ability to respond to distress in the EU financial system. However, reforms enacted since the Single Resolution Mechanism was created in July 2014 as part of the Banking Union initiated in 2012 mainly focused on non-performing loans, and the third pillar of the Banking Union, namely a European Deposit Insurance Scheme, has not been completed. Against this backdrop, this book focuses on the reasons why the EU banking system continues to remain fragile. In particular, high stocks of non-performing loans in some countries, the Level 3 assets evaluation and high exposure of many banks to the debts of their own governments are among the major concerns. Secondly, the book discusses the completion of the public safety net for banks, including deposit insurance, which remains primarily at the national level. This creates scope for contagion from banking sector fragility to national sovereign debt distress. Of interest to banking researchers, academics and students, this book combines rigorous analysis of the regulatory framework and empirical investigation on EU banking system data to prove that market discipline and risk sharing should be viewed as complementary pillars of the Euro-area financial architecture rather than as substitutes, requiring a reformed institutional framework.
Risk and Responsibilisation in Public Communication: The Global Challenges of COVID-19 and Climate Change (Earthscan Risk in Society)
by Antoinette Fage-ButlerThis book explores the connections between risk and responsibilisation in official communication to the public about the global risks of the pandemic and climate change. Our media spheres in the 2020s have been saturated with information about what we should or should not be doing to meet the challenges of the COVID-19 pandemic and climate change. Although the ability of risk communication to ‘responsibilise’ the public is central to its functioning in our societies, this aspect has so far been under-investigated in academia. To address this lacuna, Antoinette Fage-Butler develops a discursive approach to risk communication that focuses on the values that are communicated in risk messages. Examples of official risk communication about the pandemic and climate change from national and transnational contexts are analysed and compared, leading to new empirical findings and theoretical insights about the nature of risk and responsibilisation. Fage-Butler also builds on recent stirrings in the evolving field of risk communication that highlight the importance of cultural and value-related factors. Overall, this book will equip researchers with an approach to risk communication that reflects the complexity of today’s global risk challenges. Risk and Responsibilisation in Public Communication will be of great interest to students and scholars of risk communication, public health and environmental studies.
Risk and Reward: The Science of Casino Blackjack
by N. Richard WerthamerFor decades, casino gaming has been steadily increasing in popularity worldwide. Blackjack is among the most popular of the casino table games, one where astute choices of playing strategy can create an advantage for the player. RISK AND REWARD analyzes the game in depth, pinpointing not just its optimal strategies but also its financial performance, in terms of both expected cash flow and associated risk. The book begins by describing the strategies and their performance in a clear, straightforward style. The presentation is self-contained, non-mathematical, and accessible to readers at all levels of playing skill, from the novice to the blackjack expert. Careful attention is also given to simplified, but still nearly optimal strategies that are easier to use in a casino. Unlike other books in the literature the author then derives each aspect of the strategy mathematically, to justify its claim to optimality. The derivations mostly use algebra and calculus, although some require more advanced analysis detailed in supporting appendices. For easy comprehension, formulae are translated into tables and graphs through extensive computation. This book will appeal to everyone interested in blackjack: those with mathematical training intrigued by its application to this popular game as well as all players seeking to improve their performance.
Risk and Reward
by N. Richard WerthamerFor decades, casino gaming has been steadily increasing in popularity worldwide. Blackjack is among the most popular of the casino table games, one where astute choices of playing strategy can create an advantage for the player. RISK AND REWARD analyzes the game in depth, pinpointing not just its optimal strategies but also its financial performance, in terms of both expected cash flow and associated risk. The book begins by describing the strategies and their performance in a clear, straightforward style. The presentation is self-contained, non-mathematical, and accessible to readers at all levels of playing skill, from the novice to the blackjack expert. Careful attention is also given to simplified, but still nearly optimal strategies that are easier to use in a casino. Unlike other books in the literature the author then derives each aspect of the strategy mathematically, to justify its claim to optimality. The derivations mostly use algebra and calculus, although some require more advanced analysis detailed in supporting appendices. For easy comprehension, formulae are translated into tables and graphs through extensive computation. This book will appeal to everyone interested in blackjack: those with mathematical training intrigued by its application to this popular game as well as all players seeking to improve their performance.
Risk and Reward in Venture Capital
by William A. SahlmanThis note describes the payoff structure of investment in individual venture capital-backed companies and in venture capital portfolios. Venture Capital investments are characterized by high failure rate (0ver 50%) and a small number of given successes (greater than 10% returns). As an asset, class, venture capital has produced high cyclical returns that mirror trends in capital markets and in markets for new technology. There is a large disparity in median and upper quantize performance. A small number of funds do well on a constant basis. Overall returns on venture capital have been low for the decade ending in 2009.
Risk and Ruin: Enron and the Culture of American Capitalism (American Business, Politics, and Society)
by Gavin BenkeAt the time of its collapse in 2001, Enron was one of the largest companies in the world, boasting revenue of over $100 billion. During the 1990s economic boom, the Houston, Texas-based energy company had diversified into commodities and derivatives trading and many other ventures—some more legal than others. In the lead-up to Enron's demise, it was revealed that the company's financial success was sustained by a creatively planned and well-orchestrated accounting fraud. The story of Enron and its disastrous aftermath has since become a symbol of corporate excess and negligence, framed as an exceptional event in the annals of American business.With Risk and Ruin, Gavin Benke places Enron's fall within the larger history and culture of late twentieth-century American capitalism. In many ways, Benke argues, Enron was emblematic of the transitions that characterized the era. Like Enron, the American economy had shifted from old industry to the so-called knowledge economy, from goods to finance, and from national to global modes of production.Benke dives deep into the Enron archives, analyzing company newsletters, board meeting minutes, and courtroom transcriptions to chart several interconnected themes across Enron's history: the changing fortunes of Houston; the shifting attitudes toward business strategy, deregulation, and the function of the market among policy makers and business leaders; and the cultural context that accompanied and encouraged these broader political and economic changes. Considered against this backdrop, Enron takes on new significance as a potent reminder of the unaddressed issues still facing national and global economies.Published in cooperation with the William P. Clements Center for Southwest Studies at Southern Methodist University.
Risk and Safety Challenges for Religious Tourism and Events (CABI Religious Tourism and Pilgrimage Series)
by Yasin Bilim Aynur Gülenc Birsen George Cassar Ayesha Chowdhury Alan Clarke Carlos Fernandes Danielle Griffin Kevin Griffin Professor Maximiliano Korstanje Dane Munro Cyril Peter Jahanzeeb Qurashi Yadukrishna P R Razaq Raj Hugues Seraphin Geoffrey Skoll Bernadette TheodoreTravellers today face many challenges from risk and safety issues. Focusing in particular on risk and safety issues faced by visitors to holy sites, this book looks at the unique challenges raised, where annual religious festivals are commemorated with mass gatherings lasting for days and large crowds require detailed disaster management plans. Beginning with a general section on risk management, covering areas such as disaster management, terrorism, crime and security, the book then delves deeper into specific issues and challenges. It reviews important topics such as understanding the behaviour of crowds, how to perform a risk assessment for a sacred space, and travelling in what some would regard as an increasingly hostile world. Examining critically all risk and safety challenges in this area of management, the book: - Includes a full section of global case studies, as well as discussion questions for each chapter, encouraging readers to translate theory into good practice. - Offers critical thinking on risk, vulnerability and long-term development for mass gatherings. - Covers the importance of disaster management practices and offers practical advice for ensuring attendees' safety. Mitigating risk at mass gathering events and festivals is an area that still needs further research, but this book brings together current thought and provides a valuable reference for those studying religion, tourism and events, as well as event organizers, emergency and hospital services, and local authorities.
Risk and Safety Challenges for Religious Tourism and Events
by Maximiliano Korstanje Razaq Raj Kevin GriffinTravellers today face many challenges from risk and safety issues. Focusing in particular on risk and safety issues faced by visitors to holy sites, this book looks at the unique challenges raised, where annual religious festivals are commemorated with mass gatherings lasting for days and large crowds require detailed disaster management plans. Beginning with a general section on risk management, covering areas such as disaster management, terrorism, crime and security, the book then delves deeper into specific issues and challenges. It reviews important topics such as understanding the behaviour of crowds, how to perform a risk assessment for a sacred space, and travelling in what some would regard as an increasingly hostile world. Examining critically all risk and safety challenges in this area of management, the book: - Includes a full section of global case studies, as well as discussion questions for each chapter, encouraging readers to translate theory into good practice. - Offers critical thinking on risk, vulnerability and long-term development for mass gatherings. - Covers the importance of disaster management practices and offers practical advice for ensuring attendees' safety. Mitigating risk at mass gathering events and festivals is an area that still needs further research, but this book brings together current thought and provides a valuable reference for those studying religion, tourism and events, as well as event organizers, emergency and hospital services, and local authorities.
Risk and Safety Management in the Leisure, Events, Tourism and Sports Industries
by Mark Piekarz Ian Jenkins Peter MillsRisk management can often be poorly understood and applied in the leisure, sport, tourism (including adventure) and event industries. In particular, there can be a tendency to see the management of risk as simply its avoidance or removal from activities, projects and business ventures. Unfortunately, this can reduce the quality of the activity experience, or mean opportunities for profits are missed. This book is therefore designed for students and practitioners who wish to improve upon past practices, make better management decisions and ensure safer operating environments. It includes: - an explanation of the core underpinning concepts of risk and safety, which can be used at different levels of management, in different countries, for all leisure related industry sectors; - numerous applied examples and case studies from around the world; - many practical hints and tips on how to analyse, assess and control risks and improve on safety; - explanations of the key legal and regulatory underpinnings of risk and safety; - how risk and safety management practices can be developed, and their relevance for health and safety assessments, project risk management and strategic planning.
Risk and Security Management: Protecting People and Sites Worldwide
by Michael BlythLearn to measure risk and develop a plan to protect employees and company interests by applying the advice and tools in "Risk and Security Management: Protecting People and Sites Worldwide. " In a world concerned with global terrorism, instability of emerging markets, and hazardous commercial operations, this book shines as a relevant and timely text with a plan you can easily apply to your organization. Find a series of strategic to granular level policies, systems, and concepts which identify and address risk, enabling business to occur in a manner which best protects you and your company.
Risk and Social Change in an African Rural Economy: Livelihoods in Pastoralist Communities (Routledge Iss Studies In Rural Livelihoods Ser. #7)
by Peter D. Little John G. McPeak Cheryl R. DossPastoralists’ role in contemporary Africa typically goes underappreciated and misunderstood by development agencies, external observers, and policymakers. Yet, arid and semi-arid lands (ASAL), which are used predominantly for extensive livestock grazing, comprise nearly half of the continent’s land mass, while a substantial proportion of national economies are based on pastoralist activities. Pastoralists use these drylands to generate income for themselves through the use of livestock and for the coffers of national trade and revenue agencies. They are frequently among the continent’s most contested and lawless regions, providing sanctuary to armed rebel groups and exposing residents to widespread insecurity and destructive violence. The continent’s millions of pastoralists thus inhabit some of Africa’s harshest and most remote, but also most ecologically, economically, and politically important regions. This study summarizes the findings of a multi-year interdisciplinary research project in pastoral areas of Kenya and Ethiopia. The cultures and ecology of these areas are described, with a particular focus on the myriad risks that confront people living in these drylands, and how these risks are often triggered by highly variable rainfall conditions. The authors examine the markets used by residents of these areas to sell livestock and livestock products and purchase consumer goods before turning to an analysis of evolving livelihood strategies. Furthermore, they focus on how well-being is conditioned upon access to livestock and access to the cash economy, gender patterns within households and the history of development activities in the area. The book concludes with a report on how these activities are assessed by people in the area and what activities they prioritize for the future. Policy in pastoral areas is often formulated on the basis of assumptions and stereotypes, without adequate empirical foundations. This book provides evidence on livelihood strategies being followed in pastoral areas, and investigates patterns in decision making and well being. It indicates the importance of livestock to the livelihoods of people in these areas, and identifies the critical and widespread importance of access to the cash economy, concluding that future development activities need to be built on the foundation of the livestock economy, instead of seeking to replace it.
Risk and the State: How Economics and Neuroscience Shape Political Legitimacy to Address Geopolitical, Environmental, and Health Risks for Sustainable Governance
by Phillip LeBelEconomics demonstrates how markets can serve as remarkably efficient institutions in allocating scarce resources. At the same time, incomplete information generates prices that can lead to a mis-allocation, producing in some cases too little while in oth
Risk and the Theory of Security Risk Assessment (Advanced Sciences and Technologies for Security Applications)
by Carl S. YoungThis book provides the conceptual foundation of security risk assessment and thereby enables reasoning about risk from first principles. It presents the underlying theory that is the basis of a rigorous and universally applicable security risk assessment methodology. Furthermore, the book identifies and explores concepts with profound operational implications that have traditionally been sources of ambiguity if not confusion in security risk management. Notably, the text provides a simple quantitative model for complexity, a significant driver of risk that is typically not addressed in security-related contexts. Risk and The Theory of Security Risk Assessment is a primer of security risk assessment pedagogy, but it also provides methods and metrics to actually estimate the magnitude of security risk. Concepts are explained using numerous examples, which are at times both enlightening and entertaining. As a result, the book bridges a longstanding gap between theory and practice, and therefore will be a useful reference to students, academics and security practitioners.
Risk and Trading on London’s Alternative Investment Market: The Stock Market for Smaller and Growing Companies
by John Board Alfonso Dufour Yusuf Hartavi Charles Sutcliffe Stephen WellsThis book analyses the comparative risks involved in the alternative investment market, the market of growing companies, and the 'main market', the market for more established companies.
Risk and Uncertainty in a Post-Truth Society (Earthscan Risk in Society)
by Sander van der Linden Ragnar E. LöfstedtThis edited volume looks at whether it is possible to be more transparent about uncertainty in scientific evidence without undermining public understanding and trust. With contributions from leading experts in the field, this book explores the communication of risk and decision-making in an increasingly post-truth world. Drawing on case studies from climate change to genetic testing, the authors argue for better quality evidence synthesis to cut through the noise and highlight the need for more structured public dialogue. For uncertainty in scientific evidence to be communicated effectively, they conclude that trustworthiness is vital: the data and methods underlying statistics must be transparent, valid, and sound, and the numbers need to demonstrate practical utility and add social value to people’s lives. Presenting a conceptual framework to help navigate the reader through the key social and scientific challenges of a post-truth era, this book will be of great relevance to students, scholars, and policy makers with an interest in risk analysis and communication.
Risk Appraisal and Venture Capital in High Technology New Ventures (Routledge Studies In Global Competition Ser.)
by Gavin C. Reid Julia A. SmithThis book is a 'crossover' treatment of quantitative and qualitative risk analysis within the setting of new high technology ventures in the UK. Reid and Smith have based their research on extensive fieldwork in patent-intensive, high-technology firms. This has included face-to-face interviews with leading investors, and is illustrated by two chapt
Risk Arbitrage: Abbott Labs and Alza (B)
by Randolph B. Cohen George Chacko Marc ChennaultSupplements the (A) case.