Risk management has been identified as an important way to decrease medical errors and to improve overall quality of care in US hospitals. This literature review attempts to understand the current state of risk management practices and approaches of US hospitals. This review was performed to explore the extent to which risk management systems in hospitals have the tools, resources and staffing appropriate to handle and improve risk management. These findings may be used to better understand current and best practices in US hospitals, and to further base policy recommendations that might improve those systems.
The word risk is used in many different ways. It can refer to general uncertainty, doubt, an insured object, or chance of loss. Risk exists whenever the future is unknown. The strategies to manage risk typically include transferring the risk to another party, avoiding the risk, reducing the negative effect or probability of the risk, or even accepting some or all of the potential or actual consequences of a particular risk. This book will immensely helpful to control and analysis the corporate risk.
Risk management has become a necessary activity in the administration of a hospital .The present study focused on assessment of some aspects of risk management in Main University Hospital in Alexandria (MUHA), including fire prevention and control measures , performance of hospital staff in providing some patient care activities and procedures which have the potential of risk of infection , knowledge of hospital staff regarding prevention of some occupational illnesses , training programs relevant to employees safety , and the role of relevant committees in implementation of risk management activities . The study was conducted in one general medical ward and one surgical ward in MUHA .Six checklists were designed to collect data about fire prevention and control measures and five patient care practices . Two questionnaires were prepared for interview with nurses , housekeepers and chairmen of safety related hospital committees namely : occupational health and safety committee , infection control committee and environment committee . The study revealed shortcoming of risk management in the MUHA .In spite of the presence of committee .
Banking sector is one of the vital parts of the financial system and it accumulates the idle savings of the people and makes them available for investments. If the banking sector is effective, efficient and well disciplined, it brings rapid growth in various sectors. However, there are many factors that cause the volatility of returns that could lead to unexpected losses. Business universe has not been free of risk; it has been affected by different factors in various ways. After the fall of Taliban’s regime, liberalization of the banking sector in 2002 encouraged and promoted the banking sector in the country. The Introduction of the new banking legislation in 2004 aiming to establish appropriate and effective accounting and administrative procedures, and risk management controls for the banks. Despite the new banking legislation, Kabul Bank, the private largest commercial bank, collapsed in 2010 which imposed significant fiscal costs on the country.The objective of this research is to identify the main risk drivers that increase risk in financial institutions, especially banks in Afghanistan and to find the possible ways of managing and mitigating risks in the institutions.
The hotel industry prides itself in its welcoming attitude by offering hospitality, comfort and privacy. Meanwhile, guest safety and security has been argued to be of primary concern. The aim of this work was to study how hoteliers implement risk management procedures to ensure safe hotel operations, and to study how to gap the bridge between providing hospitable services which are safe and secure. The study found that the hotel industry in Sweden lacks a common risk management framework to implement consistently and coherently. A common framework would enable hoteliers to embrace risk management and be able to utilize it in their operation. It was also found that risk management ought to be integrated in all organizational processes. It should not be an isolated event, but rather implemented on an on-going basis. Providing hospitable services that are safe necessitates that risk management is implemented consistently by regularly aiming to raise current standard. Hence, continuous improvement ought to be of fundamental importance in any organization that is fully committed to risk management. This study, therefore, suggests a model that interlinks risk- and quality management.
Supply Chain risk management (SCRM) is of growing importance these days, and the high level of complexity and the rapidly evolving business dynamics associated with supply chains greatly affect their performance. Although there has been much work done in the domain of SCRM, it doesn’t focus on the Project supply chains specifically under dynamic portfolios. In this book, we focus exclusively on project supply chains under dynamic portfolios, identifying the risks associated with them, and investigating the most efficient risk management techniques, through literature as well as practice based evidence.We present a holistic framework for Risk management in project supply chains that operate under dynamic portfolios. This framework has been developed after an extensive research on risk management frameworks as proposed by scholars and practitioners. The framework encapsulates the essential risk driving actors, risk assessment techniques, and the risk management strategy devised through a careful literature review of pre-existing work, amalgamated with a practical case study.
"Credit Risk Management: Essential Capital Markets" is a training manual which will enable students, bankers, corporate financiers, and those already in the finance profession to gain an understanding of the basic information and principles of credit risk evaluation for corporate lending. Readers will learn to use those underlying principles to undertake an analysis of non-financial and financial risks when preparing a credit proposal. Since the best loans are those that do not present a problem during the repayment stage, the author focuses on elements relating to the proactive management of loans during their inception.
The purpose of this study was to investigate the level of awareness and use of risk management techniques by SMEs in the construction industry conducting business activities in King William’s Town and Port Elizabeth in the Eastern Cape Province of South Africa. A self-administered questionnaire was used to gather data from 82 SME owners or managers in the construction industry. The statistical Package for Social Sciences (SPSS) was used to analyse data. The Chi-square, cross tabulation and descriptive statistical tests were employed to analyse the data. The results of the study revealed that there is a low level of awareness and use of risk management techniques by SMEs in the construction industry. In addition, the results revealed that SMEs in the construction industry have a positive attitude toward risk management techniques. The results of the study recommend that the government, tertiary institutions, construction industry development board and SME owners or managers in the construction industry should work together to improve the level of awareness and use of risk management techniques.
The main topic for this thesis is economic risk and risk management, primarily within aquaculture. In particular, political risk is studied, defined as risk related to political decisions and regulations. This includes exploring and modelling the importance of such risks and studying methods for the management of such risks. Such analysis could have two main normative purposes, both of which are addressed in the thesis: First, to analyse how an individual agent''s risk exposure can be improved, and second, to determine how governments should develop policies to optimise the use of resources in society at large.
Risk management is an important tool to decrease medical errors and to improve overall quality of care in US hospitals. To gain insight into current practices in US hospitals, survey methods were used to explore the extent to which risk management systems in hospitals have the tools, resources and staffing appropriate to handle and improve risk management. It was clear from both a voluminous literature on this topic and the survey that hospitals still have many challenges with regard to implementing risk management systems. Most hospitals had only one or a few risk management personnel who had little ongoing training and background preparation in risk management methodology. They performed a large variety of tasks and were faced with a large range of risks. Although the framework used for this study was primarily oriented to assessing performance, results suggested that hospital culture and behaviors often seemed to contribute to key concerns, such as the willingness to hire individuals with little background in formal risk management and to accept as standard practice the use of only very risk management tools.
In today's economic climate, no manager or board of directors can afford to ignore the importance of risk management to their business. This vital guide to the risks so many businesses face explains how to identify and manage risk, showing practitioners and students the financial and non-financial risk management skills they need to safeguard their organization. Practical and applied, it includes bite-sized case studies from a range of industries and: Combines a broad strategic approach to enterprise risk management with chapters on specific applications of risk management. Balances the importance of financial and other quantitative techniques with a social science perspective. Draws on international models including those developed in UK, Australia, South Africa, as well as techniques developed in the US. The book also provides professionals and students with a solid grounding in how risks are identified, assessed, measured, managed and monitored in organizations, equally emphasizing techniques and the human factors that exert a strong influence on risk management practice.
Six Sigma is a project management methodology. It is used in the industries and corporate sectors to substantiate goal of near perfection in process performance. It has myriads of its application in a numerous organizational and business processes. It is based on Plan-Do-Check-Act cycle to achieve performance improvement in different industries including IT sector. Six Sigma is plentiful mature but still lacks a comprehensive risk management framework. It is because of its primarily used technique Root cause analysis. The need of proper risk management has been increased due to large scale complex projects, which involve high costs. In this paper, we have made an endeavor to propose a risk identification framework to improve quality and productivity in Six Sigma projects in numerous organizations especially in the manufacturing and construction. This study has also provided a detailed overview of the methods currently being used for risk identification in different type of models proposed in the literature. The proposed model undertakes a number of hypotheses to test and then validity through implementation in real time industry environment.
One of the most important innovative concepts is the credit scoring. Today it can be interested in different sectors. Thus the improvement of credit scoring is increasing day by day as a strongest part of Risk Assessment Management. The credit scoring with the help of classification techniques provides to take easy and quick decisions in lending. However, no definite consensus has been reached with regard to the best method for credit scoring and in what conditions the methods performs best. Although a huge range of classification techniques has been used in this area, the logistic regression has been seen an important tool and used very widely in studies. This research aims to examine accuracy and bias properties in parameter estimation of the logistic regression,linear discriminant analysis, linear regression by using German Data which has different variables, data types, real basement and accurately results. Moreover, application of these significant statistical analyzes on German data is provided and the method accuracies are examine for new consumer elements by the software application. Finally, the book is the best display of this method for ratings based on the results ever.
The study was taken up in Upper Brahmaputra Valley Zone of Assam with the objective of analyzing the effect of risk arising from chronically flood hazards in the State. The perceived risk inherent with the occurrence of flood is the main hindrance in using the inputs and low productivity in the study region. Rice is the dominant crop in the region with little scope for other crops due to hydrological condition. The area is dominant with marginal and small farms with low literacy percentage. The farmers are primarily dependent on the farming and off farm income is very less. Labor showed significant effect under high intensity flood situation, depicting labor as one of the most important factors in risky situations and its effect on the variance showed that labor is also a risk reducing factor under uncertainty condition in high intensity flood condition. A number of risk management strategies viz. ex-ante, ex-post have been suggested which may be useful to small and marginal farmers. It is expected that the book will be useful to planners, extension personnel, field functionaries, research scholars and academician.
This is a first of its kind empirical study addressing the unmarked topic of risk management practices (RMPs) of IFIs and CFIs in Pakistan. The study aimed at expanding the existing literature by providing novel empirical evidence. Literature review classified risks faced by both IFIs and CFIs under six categories. The research concludes that credit risk, equity investment risk, market risk, liquidity risk, rate of return risk and operational risk management practices in IFIs are not different from the practices in CFIs and the overall risk management practices of IFIs and CFIs are alike in Pakistan. The study also concludes that a research based in one country cannot be generalized to another country therefore every country must conduct research in its own context. This opens our eyes to the fact that much is unknown about the risk management practices in Pakistani financial system, creating a need for empirical studies for further discoveries to formulate better frameworks and to prevent an impending financial crisis that might be unraveling as you read this book. “The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk…”