Dissertations / Theses on the topic 'Dolomite risk management strategy'

Development on dolomite poses a risk due to the possible formation of instability features such as sinkholes. Most of these features are however man-induced, and the risk associated with development on dolomitic areas can be mitigated through correct management. Therefore, since the Tlokwe City Council is accountable for safe development within its jurisdiction, a Dolomite Risk Management Strategy (DRMS) should be put in place. There are several factors that contribute to the risk for development on dolomite. These factors can be catagorised into two groups that should be considered during the hazard identification process, namely physical factors that consists of geology, geohydrology and geotechnical, and anthropogenic factors that consists of existing infrastructure and development, land use planning, as well as social structure and awareness. These factors are assessed by means of a risk assessment in order to obtain a disaster risk score for different areas within the study area. Based on this score, priority focus areas can be identified, mainly for critically important further research before any development can be allowed or mitigation measures implemented. Once these research activities are completed, a DRMS can be compiled based on the guidelines set by SANS 1936, which will promote the safety of people and property when further development on dolomite takes place. Urgent and interim mitigation measures are proposed to manage the risk during further research activities.<br>Thesis (MSc (Environmental Sciences))--North-West University, Potchefstroom Campus, 2013

Due to the inherent hazardous characteristics associated with dolomite and development on dolomite, quantification of the stability attributes related to dolomite is essential. In large parts of South Africa, development on dolomite is inevitable due to the location thereof. The purpose of this study is to define an implementation framework for decision-making with regards to development on dolomite. The decision-making process is based on a dolomite stability investigation conducted by AGES North West (AGES, 2012) within Sarafina, Ikageng. The results from this study are interpreted by means of a decision support system that is based on the geo-environmental setting of the study area and the geotechnical properties related to the subsurface profile. This includes but is not limited to: Geo-environmental site conditions: • Drainage • Topography • Geophysical conditions • Regional geological conditions • Local geological conditions • Regional groundwater conditions • Local groundwater conditions Geotechnical stability of the dolomite based on the hazard characterisation and evaluation procedures: • Percussion drilling data • Receptacle development • Mobilisation agencies • Potential surface manifestation development space • Nature and mobilisation potential of the blanketing layer • The bedrock morphology These parameters are all inter-related and affect each other in various ways. During the study the importance of site specific observations and interpretations are emphasized.<br>Thesis (MSc (Environmental Sciences))--North-West University, Potchefstroom Campus, 2013

Master of Agribusiness<br>Department of Agricultural Economics<br>Christine Wilson<br>Risk management is critical in crop production as the challenges farmers face on a year to year basis are quite variable due to Mother Nature. There are many tools a farmer can utilize to help manage risk such as crop insurance and forward contracting or hedging. In recent years with lower prices, these tools have been more heavily used than they were a few years ago when corn and soybean prices were $8 and $15 per bushel, respectively. Margins in crop production are tight when market prices are low and input prices are high relative to market prices, and due to land cost. In order for farmers to produce greater profit, they must find ways to lower expenses or produce more bushels to increase their revenue. As margins tighten, farmers typically try to lower expenses to be more profitable rather than trying to increase bushels that would ultimately increase their revenue. When farmers try to reduce expenses, agricultural retailers experience lower revenues holding all else equal; distributors have lower revenues because the retailer is not selling as much, and the manufacturers experience lower revenues because the retailer and distributor are not moving the inventory compared to when farmer margins are larger. This thesis examines how yield protection for grain corn can be utilized as a risk management tool for crop production farmers. This thesis explores how increasing bushels and ultimately increasing revenue by protecting the bushels the crop is physically able to produce, can help manage producer risk. This thesis uses yield protection as a tool alongside crop insurance and marketing, rather than as a tool to replace crop insurance or marketing. Data used for yield protection is replicated fungicide, fungicide with an adjuvant, and fungicide with insecticide, that were evaluated against the untreated check over multiple locations and years across the Midwestern United States. Fungicide data were chosen because it is truly the definition of yield protection, protecting the crop against disease. Fungicides are usually the first products cut from a farmer’s crop production program to help reduce expenses and maintain profitability as margins tighten. The results found in this study are consistent with work conducted at Iowa State University. Results exhibited an increase in corn yield, but were not consistently statistical significant across treatments and location. In conclusion, the average yield increase was not enough over multiple years to pay for itself, and it lacked sufficient evidence. Yield protection does not fit a risk management strategy annually. However, yield protection should be utilized when specific thresholds on disease or insects are present to warrant this strategy.

Embarking on a construction project means taking a risk. Project risk management (PRM) provides an effective approach to improve decision making and minimise project risk. Project risks may not possess the same level of significance for different countries, markets and projects. Current research on PRM in China has been rather theoretical, addressing technology issues. Considering the current practice in the Chinese construction industry (CCl), the PRM needs understanding and support from the industry and a mature market environment. This research aims to establish PRM strategies for identifying and adopting the best practice to provide practical guidelines for the CCl, thus improving the PRM, motivating the reform of the Chinese construction market, and enabling the CCl to function in the competitive environment of globalisation. An extensive literature review and a number of case studies for construction projects in China have been conducted, addressing issues closely related to the research. A systematic analysis is employed and developed for project planning and decision making. Contractual risks are considered as the first step and catalyst for improving the PRM in the CCl. Built on the findings from the case studies and analysis, the research puts forward a framework of contractual risk management to study the concept, identification and classification of contractual risks. Contract interfaces are analysed for contractual risk management under various project procurement routes (PPRs). The potentially large improvements to the PRM and reform of the Chinese construction market from the introduction and application of innovative PPRs and their contractual conditions are addressed. Two mathematical models -a probabilistic analysis model and an effective information entropy model for key contractual risks -are presented. The validity and applicability of the models are demonstrated with sample data for the CCl. Detailed recommendations and guidelines for the implementation of the proposed strategies are suggested.

Material responsible for discolouration risk has been shown to accumulate on pipe walls even after cleaning intervention, suggesting that risk cannot be eliminated with a single applied intervention and hence the long-term water quality benefits are uncertain. This recurring cleaning requirement can substantially increase total expenditure on interventions. Although different interventions exist to manage accumulated material, flow conditioning is considered to be a long-term intervention due to the use of only system hydraulic (shear stress) with minimal resources. The water quality performance of the selected intervention was tested in multiple operational trunk mains including a control main with similar physical, chemical and microbiological conditions and their discolouration risk and chlorine wall decay were measured as a water quality performance indicator. The periodic trunk main flow conditioning improved the long-term chronic material loading and chlorine wall decay of trunk mains compared to the control. Although transport of occasional acute loading to the downstream network from the flow conditioning trial was recorded, the improved downstream accumulation return period found for the flow conditioned main evidenced that chronic loading has a significant influence on discolouration risk than acute loading. Using the field observed material accumulation processes for large diameter main and long-term measured data, the Variable Condition Discolouration (VCD) model was used successfully to simulate long-term discolouration behaviour with high accuracy and the model’s accumulation functionality was validated. This fundamental way of capturing accumulation behaviour in the VCD model was used to develop a novel whole life costing (WLC) model for designing flow conditioning intervention cycle cost trading against hydraulic resilience. The WLC modelling framework derived exponential Pareto front solutions that can select best solutions between intervention expenditure and level of resilience achieved. This research enlightens for the first time how the trunk main and downstream network discolouration risk behaves in response to periodically controlled interventions and how risk can be managed proactively and strategically from treatment works to trunk main and downstream distribution zone.

This thesis sets out a journey which culminates in the development of an analytical framework, the "Organisational Creativity Appraisal" which is intended to assist organisations in evaluating their ability to support and develop creativity. This framework is derived from the common thread of the thesis, which is drawn from a range of research and consultancy projects, and the resulting published work, spanning an eight year period, centring on the role of knowledge and creativity in the strategy and performance of organisations. The literature of strategy, learning and creativity increasingly recognises that organisational context is critical to the formation of strategy, to the content of the strategy and to its successful implementation. The thesis explores the ways in which learning and creativity, the basis of knowledge-based strategy, are influenced by organisational context or social architecture. The research explores the ways in which managers can gain greater understanding of the social architectures of their organisations so as to assist in supporting their strategic development. The central core of the thesis is the nine published papers upon which it is based but it also derives from the broader perspective of my published work in the form of both articles and books. The thesis further draws upon my own experience as a leader and manager in the context of university business schools and as a consultant, researcher and developer in the context of a range of international private and public sector organisations. The work is based upon a premise that theory should inform practice and that practice should inform theory. The "Organisational Creativity Appraisal" framework is informed by both theory and practice and is intended to assist in management practice. There is no assumption that management research can arrive at prescriptions for managerial and organisational behaviour. On the other hand management research can usefully inform management and organisational behaviour, as long as it is employed in a critically reflective manner. The "Organisational Creativity Appraisal" presented in this work should be regarded as the framework in its present form which is likely to develop further as my research progresses in the future.

La gestion des risques et la responsabilité sociale des entreprises ont pris les rôles dans la gestion de la stratégie mondiale d'efficacité énergétique de la chaîne d'approvisionnement et de la logistique internationale. Tout est basé sur des faits simulations, causes et impacts dans le transport, la production et la gestion de l'entrepôt. En termes de transport dans les ensembles de la chaîne d'approvisionnement globale, le système de suivi du rendement devrait être appliqué selon les normes standard appropriées. Particulièrement pour les produits dangereux. Ainsi, le niveau de pollution peut être anticipé et calculé au niveau exact. Le plus important est aussi le niveau externe, soi-disant facteur de leadership. Ce facteur reflétera la performance de la responsabilité sociale de l'entreprise.Le type de système de production qui relie le système de chaîne d'approvisionnement global est le plus difficile. Pourquoi avons-nous des difficultés sur celui-ci ? Parce que certaines entreprises ou pays ne pouvaient dans une certaine mesure faire un meilleur choix en termes de pénurie pour certains types de ressources énergétiques. Pour la section de l'entrepôt, l'auteur a trouvé le résultat que le secteur de l'électricité avec une base de données en temps réel donnait une manière réaliste de l'efficacité énergétique de la chaîne d'approvisionnement mondiale. L'efficacité énergétique dans la chaîne d'approvisionnement mondiale est une perspective que l'efficacité de l'énergie au niveau mondial pourrait être réalisée par n'importe quel type de produit, principalement sur la matière énergétique. En se concentrant sur la façon de les transporter, le système de production et la façon de construire un système d'entrepôt pour maintenir la source d'énergie plus efficace pour servir les utilisateurs finaux<br>Risk management and corporate social responsibility took roles play how to manage global supply chain energy efficiency strategy and international logistics. All is based on facts-simulations, causes &amp; impacts in transportation, production, and warehouse management”. In term of transportation in global supply chain shows for tracking performance systems hould be applied on appropriate standardized. Particularly for hazardous products. So that, the pollution level can be anticipated and calculated in exact level. The most important one is also the external level, so called leadership factor. This factor will reflect the corporate social responsibility performance.The type of production system which connected to global supply chain system is the most difficult one. Why do we have difficulties on this one? Because, some enterprises or countries for some extent could not make a better choice in term of scarcity for certain type of energy resources. For the warehouse section, the author found the result that electricity sector with real time data base has been giving realistic the way of energy efficiency of global supply chain.The energy efficiency in global supply chain is a perspective that efficiency energy in global level could be perform by any type of product, mainly on energy matter. By focusing on how to transport them, the way of production system, and how to build up warehouse system to keep source of energy become more efficient to serve end users

Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division; in conjunction with the Leaders for Global Operations Program at MIT, 2011.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (p. 65-66).<br>Amgen Inc. currently manufactures, formulates and fills substantially all of their global drug product units in a single primary facility ("Site 1A"). Concerned about the inherent risks posed by the geographic concentration of these activities, Amgen has decided to acquire a new international Risk Mitigation Site ("RMS"), expand existing bulk manufacturing infrastructure at Site 1A, and construct a new formulation and filling facility colocated with Site 1A ("Site IB"). Bringing both sites online in the near future will create a novel operational challenge for Amgen, as it will present a broad range of formulation/fill production allocation decisions that did not previously exist. If per-unit costs (production, logistics, etc.) were considered to be typically higher at either RMS or Site 1A/B, an unconstrained optimization model might suggest filling/finishing all product at whichever site has the lowest average cost. However, we assume that RMS should be able to ramp up to full capacity within 3 months of an adverse occurrence at Site 1A. This translates to a minimum product flow constraint through RMS, irrespective of per unit costs, that will keep the facility sufficiently staffed to prepare for a fast ramp-up. Furthermore, helping Amgen mitigate the risks of geographic concentration, RMS may typically produce only a portion of global demand for any product. Given this situation, this thesis develops a product allocation strategy that will: 1) minimize the financial cost of filling various quantities of drug product at the new facility, yet 2) maintain at RMS the expertise required begin manufacturing all drugs in a short period of time. A mixed-integer linear program ("MILP") was developed to capture variable costs of the formulation & fill process for each drug product ("DP") and market combination. The objective of this model is to minimize total supply chain costs subject to meeting market demand and maintaining a sufficient amount of product flow through the RMS facility. The analysis assumes that the decision to develop fill capacity at both RMS and Site lB is complete and that both facilities will be licensed to fill all products that currently run through Site 1A (i.e. capital investment decisions will not be analyzed in this study). The outcome of this study is a product allocation strategy that minimizes network costs as well as a tool that will enable Amgen to solve for minimal network costs under additional future scenarios.<br>by Roy J. Lehman, III.<br>S.M.<br>M.B.A.

Since the introduction of the Municipal Finance Management Act (MFMA) in 2003 and the Public Sector Risk Management Framework in 2010, Municipalities had to start focusing on proper risk management as part of their management activities. Within the government sector, risk management needs to be implemented in order to prevent financial losses and to improve service delivery. If shortcomings regarding risk management exist within a municipality, it could have a negative effect on sound financial management and the outcome of annual audits. This study was conducted to test the hypothesis, namely if shortcomings regarding risk management exist within a municipality. Should this be the case, it could possible affect sound financial management and the outcome of annual audits. This was to a large extent proven within this case study and it is likely that other municipalities will have similar problems. Information was obtained from two groups of officials of the Sedibeng District Municipality by means of one-on-one interviews and hand delivered questionnaires. Group 1 consisted of 14 officials not in management positions and group 2 of 11 officials in senior management positions. The questionnaire comprised five sections of questions that aimed at determining the extent of knowledge and attitude of the respondent towards monitoring, assessment, identification and response to risk management within their specific departments. Analysis of the results indicated clearly that the overall risk management knowledge differed substantially from group 1 to group 2. The knowledge, monitoring, assessment, identification and response to risk management activities were minimal or unclear to respondents not in management positions. Respondents in senior management positions were more aware of risk management responsibilities. However they admitted that it was not always done as required and in many cases only due to compliance. The results are strengthened by the statement released by the Auditor General in his 2011 audit report on Sedibeng District Municipality stating “the implementation of appropriate risk management activities to ensure risk assessment, were not conducted and the risk strategy to address the risks was not developed and monitored.” Various recommendations are proposed within this article that could improve the overall management and sustainability of risk management within municipalities.<br>M Development and Management (Public Management and Governance), North-West University, Vaal Triangle Campus, 2014

This thesis investigates the evolutionary process of risk management practices associated with the implementation of enterprise risk management (ERM) across the finance sector. Despite the increasing number of ERM adoptions in the finance industry in recent years, ERM was still at an early stage of development and further research is recommended. The literature review identifies a gap in the ERM literature, prompting the development of a theoretical framework to investigate key organisational factors critical to effective implementation of the strategic framework. A strategic ERM Alignment Framework was developed to address key shortcomings of existing ERM practices in the industry and to provide practical guidance to academics and practitioners. The research was conducted as a two-stage empirical study in the finance sector, employing sequential mixed methods of data collection and analysis: a series of 35 semi-structured qualitative interviews with senior enterprise risk managers representing a variety of financial organisations, followed by a quantitative questionnaire survey of 115 finance industry professionals. The literature supports the industry view of continuous internal and external pressures towards ERM implementation across financial organisations. The research findings confirm that ERM is perceived to have slowly transformed from a process of compliance to a strategic tool and become a source of value creation and competitive advantage. The study also shows that aligning ERM with core organisational strategies and enterprise risk culture have been the underlying factors driving a strategic ERM framework sustainable over time. Inadequate senior management support for ERM and an insufficiently dynamic enterprise risk culture are identified as the greatest challenges to ERM sustainability. Major benefits of ERM are revealed as well informed risk-adjusted decision making and a strategic enterprise-wide view of key risks. The main contribution to knowledge of this research is the development of a strategic ERM Alignment Framework for the finance sector and practical guidelines for its effective implementation. Specifically, this research offers academics and finance industry practitioners a better understanding of organisational factors critical to the implementation of a strategic ERM Alignment Framework, supported by empirical evidence. Key limitation of the research was identified as the complexity of the ERM Alignment Framework that can be mitigated by undertaking future research to simplify the framework following its practical application. The researcher recommends that future research should focus on intangible elements and qualities of ERM that are important to the Alignment Framework, such as developing a strong and consistent enterprise risk culture, or investigating how the framework can add value to the organisation.

Pocs incendis grans i destructius representen els impactes més negatius en els valors socioeconòmics i naturals de les zones mediterrànies. Com a conseqüència de l’augment de l’acumulació de biomassa en els paisatges culturals prèviament elaborats, aquests esdeveniments no característics que es produeixen en condicions meteorològiques extremes són resistents als esforços de supressió a causa de les brases massives de dutxa, les intensitats de foc aclaparadores i les taxes d’expansió molt elevades. D'altra banda, l'augment de les àrees d'interfície de zones silvestres-urbanes representa un factor condicionant que exigeix protecció i augmenta substancialment la complexitat de la gestió d'emergències. Les polítiques de prevenció d’ignició i de supressió d’incendis només resulten ineficaces per mitigar les pèrdues dels focs contemporanis. En aquesta tesi he implementat un marc analític a escala múltiple per informar sobre la presa de decisions d’una estratègia de gestió de riscos d’incendis forestals amb l'objectiu de crear paisatges resistents al foc, restaurar el règim de foc cultural, donar suport a la supressió d’incendis segura i eficient i crear comunitats adaptades al foc. En descompondre el risc d'incendis forestals en els principals factors causals a les escales relacionades amb les capacitats de gestió dels diferents agents, des dels propietaris individuals fins als governs regionals, aquesta tesi intenta proporcionar una solució integral per aconseguir aquests objectius bàsics a mig termini a la Unió Europea del sud regions. Es va implementar un model de simulació contra incendis per obtenir els factors causals de risc requerits o els indicadors d’exposició. La propagació del foc i el comportament en grans àrees es van modelar tenint en compte els règims de bombers variables en termes d’estacionalitat, gran nombre de focs i distribució espacial. Les relacions de susceptibilitat definides per experts o models de mortalitat es van utilitzar per avaluar els efectes de foc com a possibles pèrdues econòmiques en valors de risc. A més, vam utilitzar una anàlisi de transmissió per definir els incendis de la comunitat i avaluar l'intercanvi de foc entre els municipis veïns. La gestió de combustibles és la principal estratègia de mitigació de riscos d'incendis forestals a escala paisatgística i s'han utilitzat models d'optimització espacial per ajudar en el disseny del tractament del paisatge estratègic i explorar les oportunitats de col·locació sota restriccions pressupostàries. Els resultats es van proporcionar a les escales operatives adequades per informar de diferents estratègies de gestió d’incendis forestals. Els perfils d’exposició i l’avaluació de riscos a escales finals per a les estructures d’habitatges individuals i els valors dels boscos de fustes intenten promoure la participació dels propietaris i exigir les bones pràctiques dels gestors forestals amb l'objectiu de mitigar les pèrdues derivades dels incendis en el mateix lloc (unitats de tractament) i les terres veïnes. Els esforços de gestió dins de les àrees de planificació articulats com a projectes de planificació col·laborativa entre diversos agents socioeconòmics inclouen tractaments sobre el combustible del paisatge en llocs estratègics que redueixen la probabilitat general d’incendis forestals i la intensitat del foc, la planificació del paisatge per excloure àrees perilloses per al desenvolupament urbà, la preparació de la comunitat reduint la vulnerabilitat social i les ordenances del municipi a reduir la vulnerabilitat de l’habitatge. La producció conjunta de tractaments representa una oportunitat en ecosistemes forestals mediterranis multifuncionals per organitzar solucions complexes. La formulació de polítiques a escala regional dóna prioritat a nivell municipal a les diferents estratègies de gestió, com ara programes de prevenció d'ignició, pre-posicionament de recursos, assignació de subvencions per a tractaments de combustible i aplicació de la llei per a la gestió de combustibles en comunitats d'interfície de zones silvestres-urbanes amb major risc. Els diferents treballs es van desenvolupar en diverses àrees mediterrànies per ressaltar l'aplicabilitat del marc en altres llocs.<br>Pocos incendios grandes y destructivos representan la mayoría de los impactos negativos sobre los valores socioeconómicos y naturales en las áreas mediterráneas. Como resultado de la creciente acumulación de biomasa en los paisajes culturales que antes eran de grano fino, estos eventos no característicos que ocurren en condiciones climáticas extremas son resistentes a los esfuerzos de supresión debidos a las brasas de lluvia masiva, las intensidades de fuego abrumadoras y las tasas de propagación muy altas. Además, el aumento de las áreas de interfaz urbano-forestal representa un factor de condicionamiento que exige protección y aumenta sustancialmente la complejidad de la gestión de emergencias. Las políticas de prevención de ignición y extinción de incendios por sí solas resultan ineficaces para mitigar las pérdidas de incendios contemporáneos. En esta Tesis, implementé un marco analítico de múltiples escalas para informar la toma de decisiones de una estrategia de gestión de riesgos de incendios forestales con el objetivo de crear paisajes resistentes a incendios, restaurar el régimen cultural de incendios, apoyar la supresión segura y eficiente de incendios y crear comunidades adaptadas a incendios. Al disolver el riesgo de incendios forestales en los principales factores causales en escalas relacionadas con las capacidades de gestión de los diferentes agentes, desde los propietarios individuales hasta los gobiernos regionales, esta tesis intenta ofrecer una solución integral para lograr esos objetivos centrales a medio plazo en el sur de la Unión Europea regiones. Se implementó un enfoque de modelado de simulación de incendios para obtener los factores causales de riesgo requeridos o las métricas de exposición. La propagación y el comportamiento de los incendios en grandes áreas se modelaron teniendo en cuenta los regímenes de incendios variables en términos de estacionalidad, gran número de incendios y distribución espacial. Las relaciones de susceptibilidad definidas por los expertos o los modelos de mortalidad se utilizaron para evaluar los efectos del fuego como posibles pérdidas económicas a valores en riesgo. Además, utilizamos un análisis de transmisión para delimitar las cuencas comunitarias y evaluar el intercambio de incendios entre los municipios vecinos. La gestión de combustibles es la principal estrategia de mitigación del riesgo de incendios forestales a escala del paisaje, y se utilizaron modelos de optimización espacial para ayudar en el diseño estratégico del tratamiento del paisaje y explorar oportunidades de colocación bajo restricciones presupuestarias. Los resultados se proporcionaron en escalas operativas apropiadas para informar diferentes estrategias de manejo de incendios forestales. Los perfiles de exposición y la evaluación del riesgo a escalas finas para las estructuras de viviendas individuales y los valores forestales de los bosques de madera intentan promover la participación de los propietarios y demandan las buenas prácticas de los administradores forestales con el objetivo de mitigar las pérdidas por incendios encendidos en el mismo sitio (unidades de tratamiento) y las tierras vecinas. Los esfuerzos de gestión dentro de las áreas de planificación articulados como proyectos de planificación colaborativa entre diversos agentes socioeconómicos incluyen tratamientos de combustible de paisaje en lugares estratégicos que reducen la probabilidad general de incendios forestales y la intensidad de incendios, la planificación del paisaje para excluir áreas peligrosas para el desarrollo urbano, la preparación de la comunidad para reducir la vulnerabilidad social y las ordenanzas municipales para reducir la vulnerabilidad de la vivienda. El tratamiento conjunto de la producción representa una oportunidad en los ecosistemas forestales mediterráneos multifuncionales para organizar soluciones complejas. La formulación de políticas a escala regional prioriza a nivel municipal las diferentes estrategias de manejo, como los programas de prevención de ignición, el posicionamiento previo de recursos de supresión, la asignación de subsidios para tratamientos de combustible y la aplicación de la ley para el manejo de combustibles en comunidades de interfaz urbano-forestal en mayor riesgo. Los diferentes documentos se desarrollaron en varias áreas mediterráneas para resaltar la aplicabilidad del marco en otros lugares.<br>Few large and destructive fires account for most negative impacts on socioeconomic and natural values in Mediterranean areas. As a result of an increasing amount of biomass accumulation on the previously fine-grained cultural landscapes, these uncharacteristic events occurring under extreme weather conditions are resistant to suppression efforts due to massive showering embers, overwhelming fire intensities, and very high spread rates. Moreover, increasing wildland-urban interface areas represent a conditioning factor demanding protection and substantially increasing emergency management complexity. Ignition prevention and fire suppression policies alone result ineffective to mitigate losses from contemporary fires. In this Thesis I implemented a multiple-scale analytical framework to inform the decision-making of a wildfire risk management strategy aiming at creating fire resilient landscapes, restoring the cultural fire regime, supporting safe and efficient fire suppression, and creating fire-adapted communities. By decomposing wildfire risk into the main causative factors at scales related to management capabilities for the different agents, from the individual homeowners to Regional Governments, this dissertation attempts to provide a comprehensive solution to achieve those core goals on the mid-term in southern European Union regions. A fire simulation modeling approach was implemented to obtain the required risk causative factors or exposure metrics. Fire spread and behavior in large areas were modeled accounting for variable fire regimes in terms of seasonality, large fire number, and spatial distribution. Expert-defined susceptibility relations or mortality models were then used to assess fire effects as potential economic losses to values at risk. Moreover, we used a transmission analysis to delineate community firesheds and assess fire exchange among neighboring municipalities. Fuels management is the main wildfire risk mitigation strategy at the landscape scale, and spatial optimization models were used to help in strategic landscape treatment design and explore collocation opportunities under budgetary restrictions. Results were provided at appropriate operational scales to inform different wildfire management strategies. Exposure profiles and risk assessment at fine scales for individual housing structures and timber stand forest values attempt to promote homeowners’ involvement and demand forest managers’ good practices aiming at mitigating losses from fires ignited on the same site (treatment units) and the neighboring lands. Management efforts within Planning Areas articulated as collaborative planning projects among various socioeconomic agents include landscape fuel treatments on strategic locations reducing overall wildfire likelihood and fire intensity, landscape planning to exclude hazardous areas for the urban development, community preparedness reducing social vulnerability, and municipality ordinances to reduce housing vulnerability. Treatment joint-production represents an opportunity in multi-functional Mediterranean forest ecosystems to arrange complex solutions. Regional scale policy-making prioritizes at municipality level the different management strategies such as ignition prevention programs, suppression resource pre-positioning, assignation of subsidies for fuel treatments, and law enforcement for managing fuels in wildland-urban interface communities at highest risk. The different papers were developed in various Mediterranean areas to highlight the applicability of the framework elsewhere.

Les pertes de rendement dues au climat sont positivement corrélées. Cela va à l’encontre des principes d’assurance et expose l’assureur à des risques financiers qu’il ne peut supporter seul. Les réassureurs eux-mêmes peuvent être dépassés par les sommes en jeu. Les marchés financiers en revanche possèdent la capacité financière requise et l’effet diversifiant des risques climatiques pourraient intéresser les investisseurs. Une stratégie de gestion du risque systémique consistant pour l’assureur à isoler la partie corrélée du risque rendement et à la transférer aux marchés financiers via des obligations catastrophe est analysée en trois points. Tout d’abord, des modèles de tarification isolant la part systémique du risque sont présentés. Ensuite, la démonstration de la faible corrélation d’une obligation agricole est faite, ainsi que de ses rendements élevés, confirmant son potentiel pour les investisseurs. Enfin, l’évolution de la valeur de marché des compagnies émettrices d’obligations catastrophe est étudiée. Au global, aucun impact n’est détecté. En détail, des émissions répétées favorisent la hausse de la valeur de l’émetteur, et de grosses émissions en favorisent la baisse. Les assurances indicielles sont utilisées comme support de l’étude. Basées sur des proxys de rendement plutôt que sur des rendements réels, elles donnent accès à des bases de données complètes et fiables. Ces travaux contribuent à la littérature restreinte concernant les risques agricoles et leur transfert vers les marchés financiers. Ils fournissent aux assureurs une stratégie alternative de transfert de risque et ouvrent la voie vers des outils innovants d’investissement<br>Crop yield insurance comes with loss correlation, impeding the classical insurance risk pooling. Insurers alone cannot face the high exposure entailed by weather risks, which can even fall beyond the reinsurers’ financial capacity. Financial markets appear as a logical risk-transfer solution, investors being potentially interested by the diversifying effect of weather-linked risks. A systemic risk management strategy consisting for the insurer to isolate the correlated component of the crop yield risk and to transfer it to the financial markets through catastrophe bonds is investigated in three points. First, insurance pricing models separating the risk into a systemic and a non-systemic component are presented. Second, the interest for investors to take part in a cat bond based on agricultural risks is analyzed. The low correlation to financial markets of such bonds and their potentially high returns confirm the attractiveness of this new asset class for investors. Finally, the evolution of the market value of cat bonds issuers is studied. No general evolution is identified, but firms used to issue cat bonds may expect their market value to increase, while the firms issuing the largest bonds may expect their market value to decrease. The study is applied to the case of index insurance, based on yield proxys rather than real yields, which provides detailed data for accurate risk quantification. This work contributes to the still limited literature regarding agricultural risks and insurance by describing an integrated systemic risk management strategy providing insurers with alternative risk-sharing solutions and investors with innovative asset allocation opportunities

The impacts of unconventional risks and crises on organisation survival have shifted the focus not just to risk and crisis management but also on business continuity and organisational resilience. At the same time, the effectiveness of current risk and crisis management models or strategies in dealing with unconventional risks and crises remain a challenge, not least due to the regular re-occurrence of similar events. However, this thesis contends that the value of existing models of risk and crisis management is overestimated, resulting in risk underestimation and the same issues becoming evident, repeatedly. This thesis calls for need to subjecting risk/crisis management theories and models to more rigorous testing and re-evaluation against reality. Two significant unconventional crises were analysed within the context of risk/crisis management literature. It was found that moral disengagement is responsible for the difficulties in managing the response to each of the incidents. At the root of most organisational crises, ethical dilemmas underpin the decisionmaking of leaders and organisational members which are suggested to have initiated a chain of events leading to those crises. It is argued that an awareness of selective risk perception, crisis miscommunication, inflated ethical business practice, trust deficit, organised corporate irresponsibility and moral disengagement is crucial towards improving the management of the Niger Delta crises and similar incidents in future. The thesis also found that issues of moral disengagement mechanisms are responsible for generating competing constructions of unconventional risks, crises and disasters. This thesis demonstrated that moral disengagement mechanisms weaken or destroy established approaches to mitigating and managing risks and crises; facilitate sanctionable behaviours in risk, crisis and disaster situations without self-condemnation; and help to maintain high moral self-image even in obviously detrimental and unethical conducts. It was argued that part of the reason for this was that organisations did not consider a link between moral disengagement and risk/crisis management to determine whether organisational crises are self-inflicted or within organisational risk appetite before escalation. This conceptualisation of moral disengagement contributes to better understanding of risk and crisis evolution and the wider implications for organisational resilience and growth. Of importance was the recognition that decision-based model of risk and crisis management could have address each of the issues that were identified in the case studies. The research implications and limitations were carefully discussed.

Strategic Management cycle consist of strategic planning, implementation, monitoring, evaluation and review of strategy. Strategy implementation has thus become the most significant management challenge. Yang et al. (2010) claim that although formulating a consistent strategy is a difficult task for any management team, making that strategy work and implementing it throughout the organisation is even more difficult. Yang further argues that Strategy implementation has been recorded as a key challenge for today’s organisations. According to Gurowitz (2008, there is evidence which shows that less than 10 percent of strategies formulated are effectively executed. Hrebiniak (2005) advances that; failure in organisations to effectively execute strategies is often as a result of limitation in linking organisational goals with objectives (operations). There are many other factors that influence the success of strategy implementation, ranging from the people who communicate or implement the strategy, to the systems or mechanisms in place for co-ordination. Brynard (2005) asserts that strategy implementation is equally challenging for management in Government departments, given that efforts of Government are aimed at improving service delivery. Poor strategy implementation is linked to poor service delivery. It is also worth noting that whilst implementation is acknowledged as a challenge, joint planning and joint implementation policies and strategies experience even a greater challenge in their implementation According to Young (2006), Debra and Yeates (2008), strategy implementation is in itself a risk because of its impact on the processes, people, and the systems. Strategy implementation is thus considered one of the main risk factors in organisations. In concurring with this view, Lorenzi et al. (2008) proposes that, strategy implementation implies change, and therefore poses risk to the processes, the people and the systems.

A central concern of this research has been to understand more about how and why organisations change. My initial research question posed was: What is 'strategy', how does it emerge in health care organisations and how can I influence its development? This is explored within the context of my field of practice as a Director of Nursing in a National Health Service (NHS) Trust. I have approached this enquiry through using a methodology known as emergent exploration of experience (Stacey et al., 2003). This methodology is informed by insights from Complexity Science and the theories of complex responsive processes of relating. What emerged through the enquiry were a number of key areas of concern related to national healthcare strategy and the management of risk within my NHS trust. The findings from this research radically challenge the way we are practising together in my organisation in moving from the position of locating accountability for mistakes with either the individual or the system. Instead it is suggested that, as part of our ongoing process of interaction, we co-create what others are describing as a 'system' through our participation with each other. Accepting the notion of co-creation requires us to examine very carefully the influence of our own participation in the dangerous situations that arise in our everyday work, and to acknowledge our own accountability for what emerges. I am proposing that this makes a new contribution to knowledge in this field for two reasons. First, because it explores for what I believe to be the first time the validity of the theory of complex responsive processes in the discourse of risk management in health care. I am proposing that this theory has a legitimate contribution to make in this field of practice, that is worthy of further enquiry and research. Second, in making this shift to a perspective that understands accountability for error as something that we co-create in groups, my thesis poses a radical challenge to many of the activities that are traditionally undertaken when mistakes occur in organisations. Specifically, I have questioned the usefulness of approaches that seek remedies through focusing on individuals outside the context of the group and those that focus on re-engineering what other authors refer to as the 'whole system'. I offer an alternative through describing examples in my narrative of a different approach grounded in the research methodology of emergent exploration of experience. This focuses on the micro-interactions between participants in groups as a way of understanding the transformation of practice .I am arguing that such transformation may not always be an improvement, because we cannot always accurately predict the outcomes of our actions in advance. This perspective therefore also challenges the assumption made by some authors in this field, who believe it is possible to 'human-proof' systems and thus guarantee ‘zero defects'. In seeking an answer to my research question I have therefore moved from understanding strategy as a vision for the future that can be planned and implemented by a few powerful individuals whom others follow to a different understanding. I now see strategy as an emergent phenomenon arising from micro-interactions between people in the present – hence we co-construct our future as the actions we take in the present. From this perspective I have argued we all have the potential to influence what is emerging through our actions, for which we are constantly held to account, through both our inner dialogue with ourselves and our conversations with each other.

<p>The following research was performed to establish an engineering knowledge management strategy for improving knowledge sharing concerning risk prediction models for hospital readmissions. The health care industry has been met with numerous approaches toward reducing preventable hospital readmissions; a recognized quality of care metric. Risk prediction models are increasingly being seen as a data-driven readmission reduction tactic that proactively inform health care teams of a patient?s risk for readmission by using a sophisticated blend of data derived from electronic health records and other pertinent sources. In an industry where effective communication is critical to the deployment, execution, and sustainment of delivering quality health care to patients, validated methods contributing to the improvement of communication processes are generously accepted and encouraged. Application of an engineering knowledge management strategy was identified as a novel approach to guiding the flow of knowledge regarding the use and interpretation of risk prediction models for readmissions throughout health care teams. An engineering management research method was linked to the process of developing a knowledge management strategy and ultimately resulted in a pilot (trial) to realize the impact of improved knowledge capturing and sharing activities on using risk prediction models as a readmission reduction tactic. Overall, application of this praxis is intended to be performed by health care consultants and industrial/systems engineers involved in deploying readmission-based risk prediction models in hospitals.

Thesis (M.B.A.)--Naval Postgraduate School, June 2009.<br>Thesis Advisor(s): Dillard, John. "June 2009." Description based on title screen as viewed on July 13, 2009. Author(s) subject terms: Stryker Brigade Combat Team, Interim Force, Mobile Gun System, Complexity, Uncertainty, Systems Engineering, Reliability, Risk Management, Acquisition Strategy Includes bibliographical references (p. 113-122). Also available in print.

<p>Information security is tasked with protecting the confidentiality, integrity, and availability of an organizations information resource. A key aspect in protecting these resources is developing an</p><p>understanding of the threats, vulnerabilities, and exposures that they face by using Risk Management.</p><p>The objective of Risk Management is to identify, quantify and manage information security risks to achieve organizations objectives through a number of tasks utilizing key Risk Management techniques.</p><p>Risk Management is a process that ensures that the impact of threats exploiting vulnerabilities is within acceptable limits and at an acceptable cost.</p><p>With the increased complexity of modern dynamic networks, traditional defence mechanisms are failing and as a result cyber crime is on the rise [FBI03]. This puts organizations and corporations at risk as the defences are ill-fitted and weak [KBM04].</p><p>No information system can be absolutely secure, especially large and complex systems. Embedded security works for isolated, dedicated systems with few users but does not offer cost effective security, and even worse does not always handle security based on a real threat (this is manly due to it inherent inflexibility). A military strategy within the field of information operations suggests a method of information superiority bases on the OODA-loop. This theses propose a method of information security protection based on a combination of risk management techniques and information operation (foremost the OODA-loop). This is in order to ensure a cost effective and a viable future for information security in large</p><p>and complex systems, where the war at least at present time is lost to the “black hats”, a term often used to describe a menaced hacker.</p>

This study attempts to identify any differences between Islamic and non-Islamic banks in UAE. Furthermore, factors affecting rate of return on lending have also been examined for UAE banks, Islamic and non-Islamic banks. This study has used quantitative research design. Data has been collected through questionnaire. Data is obtained directly as primary evidence from the senior credit risk managers from all the local commercial banks within United Arab Emirates. The sample for the study consists of 6 commercial banks from UAE with 3 non-Islamic and 3 Islamic banks with 148 credit risk managers as respondents for the survey. Descriptive statistic and inferential statistics are used to obtain the results. Islamic and non-Islamic banks differ in 'expert system', 'lending policy' and 'lending decisions'. Islamic banks are performing better making lending decision and lending policies than non-Islamic banks. Whereas, non-Islamic (conventional) banks are having better expert system than Islamic bank. All explanatory variables i.e. bank-wise exposure, experts system, company factors, lending decision, corporate borrowers, demographic variables and lending policy have significant influence on the profitability of UAE banks. Overall, credit risk management practices of Islamic banks are significantly contributing in profitability of banks than non-Islamic banks. Originality - This paper uses questionnaire-based methodology has not been used previously in UAE financial sector as well as in studies of credit risk management. Therefore this research could become the cornerstone of further academic research in other developing countries using this methodology. Practical implication. This study is significantly important for the academic point of view as well as for the practitioners, risk managers and policy makers.

Mestrado em Finanças<br>Implementamos e detalhamos uma estratégia de negociação em ações, de nome estratégia de momentum com volatilidade ajustada, que minimiza o impacto negativo que as emoções humanas podem incutir aos traders nas suas decisões de investimento. Remove a aleatoriedade e interpretação subjetiva na seleção dos ativos constituintes do portfólio. A nossa abordagem totalmente automatizada tira proveito de uma generalizada e bem documentada ineficiência financeira, o efeito momentum. Ao ajustar o momentum à volatilidade e usando paridade de risco no peso a atribuir aos activos no portfólio, os nossos resultados suportam que a longo prazo, os investidores podem ativamente esperar obter melhor performance que o mercado de referência S&P500. Esta estratégia tem o potencial de exibir maiores retornos com menor exposição ao risco, e apresenta a capacidade de diminuir consideravelmente as grandes viragens para terreno negativo do mercado bolsista, na gestão de portfólios.<br>We implement and detail a stock trading strategy, named volatility adjusted momentum strategy (VAMS) that minimizes the negative impact human emotions can instill in traders investment decisions. It withdraws the randomness and subjective interpretation from the portfolio asset selection. Our fully automatized approach takes advantage of a pervasive and well documented financial inefficiency, the so called: momentum effect. By adjusting momentum to volatility and using risk parity in asset portfolio weighting, our findings support that in the long run, investors can actively expect to outperform the S&P500 benchmark. This strategy has the potential of exhibiting higher returns with lower exposure to risk, and presents the capability to diminish greatly the impact of bear markets in portfolio management.<br>info:eu-repo/semantics/publishedVersion

Information Technology (IT) projects that resulted from the accelerated technological pace of change, will enable a path of growth and long term return on investment (ROI) for organisations. However, embarking on such large scale investments leave little opportunity to turn back, and sound project management principles will be required to effectively manage unforeseen issues during the project life cycle, and if these fail, the organisations will be constantly functioning in crisis mode. The absence of risk control and risk management can be destructive towards overall business performance. Management skills are therefore of paramount importance to reduce direct cost of projects and to handle increased challenges derived from improvements on existing IT infrastructures. The need for a robust risk management framework exists although many industry standard methodologies are available to assist management in the ongoing task of project delivery. The main objective of the study was to propose a general reference framework that describes an optimal project risk management process plan for IT projects from various industry types in South Africa. The literature study focused on identifying key factors and components within the project risk management academic field. This framework can also be useful to organisations in developing and expanding existing project risk management processes to facilitate the preparation and practical implementation in order to give assurance to stakeholders that all potentially momentous risks are identified and properly managed. Shareholders require transparency and high standards of corporate governance that must therefore function in an environment that cultivate open communication channels. Shareholder value will be delivered by means of information that is applied through effective knowledge management initiatives and constantly monitored by measurable strategic objectives. The second part of the study entails an empirical investigation that identified the [1] general project management issues within organisations; [2] perceptions on risk management practices; [3] key factors within project risk management; [4] and methodologies/frameworks that are applied in practice. The results indicated that it simply will not suffice with only managing some stages of a project cycle. Information audits form an integral part in maximising Information Systems (IS) that must be aligned with the overall organisational strategy. Strategy, performance and sustainability are inseparable assets of any organisation. IT governance perceived by organisations as important, can improve its competitive value with effective risk practises like risk methodology and data management. Knowledge management will lead management towards better competitive positions as well as increasing the overall organisational performance levels. Risks identified must be well documented, and the implementation of risk support systems will enable business management to anticipate future conditions and plan ahead. Management tools like Prince2 and PMBOK can guide the project management process. None of them, however, ensure project success and the project team must decide on the combination of each tool to implement according to individual organisational needs. The study further indicated that an organisation must cultivate an open communication channel for identifying and escalating risk and issues. Risk management can be seen as a scientific soul mate to project management with communication lying at the heart of effective risk management. Effective communication will establish critical links between shareholders' needs; information distribution; performance reporting; and management of issues towards shareholders. Governance, as the binding glue for organisations, has been one of the fastest growing elements of risk management. Performance measurement is paramount to IT governance and must be set and monitored by measurable objectives. COBIT as a comprehensive framework for IT management, promotes an excellent reference model to advance IT governance. King III, as non-legislated code towards JSE Securities Exchange, states that a company should have a risk assessment framework in place to enable management to pro-actively and continuously address risks. Basel II has reached the plateau but its effectiveness purely rests on the management of financial institutions to extend beyond the regulation alone. Various ISO standards can be used in conjunction with these management tools like the ISO 31000 risk management standard to guide management in the effective implementation of risk practices. The empirical research indicated that knowledge management will lead organisations towards better competitive positions as well as increasing the organisation's overall performance levels. It further indicated that IT governance can improve an organisation's competitive value with effective risk management practices. The study revealed that top management involvement is vital with each IT project intervention along with the required sponsor support. Project risk management is not only the project teams' responsibility, but the organisation as a whole. The strategy of an organisation must cultivate an open communication channel within projects; clearly assign roles and accountability; enforce a repository support system to monitor and evaluate risks; and to drive risk awareness throughout the organisation.<br>Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

Master of Agribusiness<br>Department of Agricultural Economics<br>Vincent Amanor-Boadu<br>Business plans are a necessity for new ventures. The plan helps to set goals for the business, establishes a good product and customer base, looks at competition, provides management strategies and develops a financial plan and succession/exit strategy. This thesis assesses the business plan that was developed for a 9,300 acre farm in Southwestern Wisconsin from an ex post perspective when assumptions about the future have been realized. It assesses the strategic direction, objectives and financial projections that were made and the assumptions that underlay the projections. The research provides a discussion of a family farming operation that ultimately became a banking investment at the cost of many family members’ lifestyles. The farm did continue on, but not with the same operators that had goals to build a new venture from the existing one. This research evaluates the financial information to determine whether the farm could have been a feasible proposition under the specified conditions. Also, the business plan is evaluated using hindsight information to assess the errors in assumptions and their effects on the projected cash flows, profitability and balance sheet situations. The research assesses the role that the template approach to the business planning process played in the results, and explored if the process model or the Cascade Approach® might have produced different recommendations. The entrepreneurial behaviors under uncertainty are discussed and evaluated, with the hubris being an underlying factor in the plan. It is concluded that the assumptions entrepreneurs make are often over-optimistic. There is, therefore, a need to temper entrepreneurs’ enthusiasm about their projects with reality to control their natural hubris.

Försörjningskedjor har blivit allt mer globala, vilket har medfört att risken ökat och allt fler oförutsedda händelser uppstår som kan påverka organisationen på ett negativt sätt. Denna studies syfte var att få en förståelse för hur företag A hanterar och identifierar risker inom försörjningskedjan utifrån ett inköpsperspektiv, vilket undersöktes med hjälp av kvalitativa metoder. Studien började med insamling av allmänna fakta för att skapa en bild över potentiella problem inom försörjningskedjan, vidare riktades den teoretiska referensramen in på teorier och modeller inom riskdefinition, riskstrategier och analysverktyg för riskbedömning. Sedan genomfördes en fallstudie av hur företag A upplever risker. Den empiriska datan blev insamlad genom semi-strukturerade intervjuer med individer på företagets inköpsavdelning, med fokus på hur de identifierar och hanterar risker. Därefter analyserades den insamlade datan från intervjuerna, utifrån den teoretiska referensramen. Resultatet visade att det finns en stor riskförståelse och aktivt arbete mot olika typer av risker, samt för att minimera störningar är den främsta åtgärden kommunikation med leverantörer. I studien framkom även att det inte finns någon enhetlig riskstrategi och riskhantering bland individerna på inköpsavdelningen, istället hanteras riskerna utifrån enskilda situationer.<br>Supply chains have become increasingly global, which has led to increased risk and more and more unforeseen events occurring that could adversely affect the organization. The purpose of this study was to gain an understanding of how Company A manages and identifies risks in the supply chain from a purchasing perspective, which was investigated using qualitative methods. The study began with the gathering of general facts to create a picture of potential problems in the supply chain, and the theoretical frame of reference was also focused on theories and models within risk definition, risk strategies and analysis tools for risk assessment. A case study was then conducted of how Company A perceived risks. The empirical data was collected through semi-structured interviews with individuals in the company's purchasing department, focusing on how they identify and manage risks. Subsequently, the data collected from the interviews were analyzed based on the theoretical frame of reference. The result showed that there is a great understanding of risk and active work against different types of risks, and to minimize disruptions, the main measure is communication with suppliers. The study also revealed that there is no uniform risk strategy and risk management among the individuals in the purchasing department, instead the risks are managed based on individual situations.

The introduction of contracts for difference, CFDs, in the Nordic market has meant a tremendous freedom for both large investors and small investors. CFDs, like many other financial derivatives, allow speculation on price movements in virtually all global markets with easy access to leverage, which is the same as borrowed capital. CFDs carry high risk and hence should only be used by qualified traders.  Swedish CFD providers have been criticized for mass marketing their services with lack of regard for the industry's sustainability. The legal requirements placed on CFD providers for customer's creditworthiness and knowledge are also said to be weak, given the products complexity and high risk. Thus, the purpose with this research is to respond to the criticism by examining the level of risk management, and the level of strategic awareness among CFD traders. The epistemological orientation of this research conforms to the philosophy of positivism, and the research approach is consistent with the deductive approach. The research is based on a quantitative data collection method were a survey was carried out with CMC Markets’ customers with 233 respondents.After examining the usage of risk management tools, position sizing and monitoring; the results suggest that the level of risk management among CFD traders is moderately high. For a trading strategy to function, and hence be successful, it is important that traders are consistent with the various components that a trading strategy consists of. After examining to what extent the CFD traders positions are based on rules and signals as well as loyalty to them, to what extent they optimize their trading strategy, and lastly to what extent they use available strategy methods I came to the conclusion that there is a relatively low level of strategic awareness.Keywords: CMC Markets, Finance, CFDs, Investment, Derivative, Securities Trading, CFD Trading, Stocks, Risk management, Strategic awareness, Trading strategy, Technical analysis, Fundamental analysis

A leader's unwillingness to delegate critical decision-making authority to subordinate managers and employees negatively impacts the performance of a firm. There is a lack of research that measures a leader's willingness to delegate critical decision-making authority to subordinate managers and employees based on their individual risk propensities. The purpose of this study was to provide empirical evidence of the influence risk propensity has on a leader's willingness to delegate critical decision-making authority. Specifically, this study examined the extent that risk propensity of leaders affect delegating critical decision making authority to subordinate managers and employees. The research design was a quantitative cross-sectional, correlation study that involved 56 questions. The study participants (N = 102) were presidents, CEOs, corporate executives, and chairpersons. The Stimulating-Instrumental Risk Inventory measured risk propensity and the Delegation Decision Instrument measured the willingness delegate critical decision-making authority. Both instruments showed to be reliable in terms of internal consistency for the measurement tests. Survey results revealed a significant negative correlation between a leader's risk propensity and the willingness to delegate critical decision-making authority. These findings suggested that leaders who retain primary responsibility for critical decision making have high risk propensity while those who delegate decisions have less risk propensity. These findings may equip theorists of risk propensity and decision-making on the relationship between delegation behaviors, risk propensity, and organizational performance. This research and the resulting analysis provides decision makers a window into their individual risk propensity preferences.

Thesis (M.S.)--University of Wisconsin--Stevens Point, 2008.<br>Submitted in partial fulfillment of the requirements of the degree Master of Science in Natural Resources (Wildlife), College of Natural Resources. Includes bibliographical references.

This thesis investigates roadmapping in the context of its application to strategic early-stage innovation planning. It is concerned with providing an understanding of how uncertainty and risk are manifested in roadmapping in this application, and with developing and testing a roadmapping process that supports appropriate treatment of uncertainty and risk. Roadmapping is an approach to early-stage innovation planning, which is strategic in nature. It is seeing increasing application in practice and receiving growing attention in management literature. There has, however, been a noticeable lack of attention to uncertainty and risk in roadmapping theory and practice (and generally in strategic planning and at innovation’s early-stages). This is despite the awareness that uncertainty and risk are fundamental to strategy and innovation (i.e. application domains of roadmapping), and that roadmapping is meant to deliver, as part of its benefits, the identification, resolution and communication of uncertainties and risks. There is very limited theoretical or practical direction on what this entails. It is this gap that the research reported in thesis addresses. The research is divided into two phases. The first phase explains the manifestations and mechanisms of uncertainty and risk in roadmapping. It also introduces ‘risk-aware roadmapping’, a concept of roadmapping that includes a conscious and explicit effort to address uncertainty and risk, and points out what the process would entail in terms of necessary steps and procedures. The research here is designed using mixed methods (a combination of experience surveys, archival analysis, and case studies). The second phase provides a practical risk-aware roadmapping process. This practical process is developed based on the results of the first phase, and is designed according to procedural action research. This thesis contributes to the fields of roadmapping, early-stage innovation and organisational sensemaking. It is found that factors related to the content, process and nature of roadmapping interact to influence the perception and treatment of uncertainty and risk. Characteristics of organisational sensemaking as theorised by Weick (1995) are explored in the light of the findings and challenged. Aspects of early-stage innovation including the generation and selection of innovation ideas are explored in the context of uncertainty and risk and important paradoxes and constraints at innovation’s early-stages.

Mestrado em Gestão e Estratégia Industrial<br>A Gestão de Risco é cada vez mais uma realidade para as empresas, uma vez que a complexidade e o número de riscos aumentou com a globalização empresarial e com as novas exigências dos mercados. A necessidade de melhorar a gestão do risco levou as empresas à implementação de estratégias de Gestão do Risco próprias. Sendo a maioria destas estratégias definidas a partir dos princípios e diretrizes da norma ISO 31000:2009, apresentando como principais áreas de análise: a identificação, a análise, a avaliação e o tratamento do risco. Com este estudo pretende-se compreender a implicação, nos resultados e desempenhos, da implementação de uma estratégia de Gestão de Risco para as empresas. Através da revisão de literatura foi possível criar a base do estudo, que foi complementada com um inquérito realizado a várias empresas da Indústria Aeronáutica Portuguesa. Os resultados obtidos no estudo vão de encontro com as premissas apresentadas neste trabalho, que os impactos da implementação de uma estratégia de Gestão do Risco para as empresas são positivos a todos os níveis, de desempenho e resultados. As empresas devem olhar para a Gestão do Risco como uma fonte de criação de valor e não como um custo dispensável.<br>Risk Management is more and more a reality for the companies, since the complexity and number of risks has grown with enterprise globalization and the new demands of the markets. The need to improve risk management took companies to the implementation of proper Risk Management strategies. Being most of those strategies defined by the principles and guidelines of the ISO 31000:2009 standard, presenting as main assessment areas: identification, analysis, evaluation and treatment of risks. It was intended with this study the comprehension of the implication, in results and performance, of the implementation of a Risk Management strategy for the companies. Through the literature review it was possible to create the groundwork for the study, that was complemented with an inquiry conducted to various companies of the Portuguese Aeronautic Industry. The obtained results are in line with the premises presented in this study, which the impacts of the implementation of a Risk Management strategy are positive at all levels, of performance and results. Companies should look at Risk Management has a source of creation of value and not has a dispensable cost.<br>info:eu-repo/semantics/publishedVersion

Recent U.S. legislation applies a precautionary approach to setting catch regulations in federal fisheries management. A transparent approach to complying with federal guidelines involves calculating the catch recommendation that corresponds to a specified probability, P*, of exceeding the "true" overfishing limit (OFL) located within an estimated distribution. The P* methodology aims to manage the risk of overfishing explicitly, but choice of P* alone does not provide sufficient information on all of the risks associated with a control rule—both the probability of overfishing and the severity of overfishing. Rather, the ramifications of P* choices depend on the amount of uncertainty in the stock assessment and on the life history of the species in question. To evaluate these effects on the risks associated with P* rules, my study simulated fishing three example species under three levels of uncertainty. Trends identified among example species were consistent with predictions from life history. Periodic strategists, which have highly variable recruitment, experienced probabilities of overfishing which exceeded P* and which increased in time. Equilibrium strategists showed more predictable risks of overfishing but may have less capacity to recover from depleted biomass levels. Differences in the size of the OFL distribution—representing differences in levels of uncertainty—led to mixed results depending on whether the distribution was biased or whether uncertainty was fully characterized. Lastly, because OFL distributions are themselves estimates and subject to uncertainty in their shape and size, lower P* values closer to the tails of the estimated distribution produced more variable resulting risks.<br>Master of Science

Thesis (Ph. D.)--Ohio State University, 2004.<br>Title from first page of PDF file. Document formatted into pages; contains xii, 209 p.; also includes graphics. Includes bibliographical references (p. 171-181).

Esant sudėtingai ekonominei situacijai verslo rizikos įvertinimas ir valdymas tampa aktualia problema. Nestabilumas reikalauja nuolatinio dėmesio banko likvidumo vertinimui ir valdymui. Sudėtingėjant ekonominėms sąlygoms, likvidumo rizikos valdymas negali būti izoliuotas procesas. Magistro darbe išanalizuoti ir susisteminti Lietuvos ir užsienio autorių darbai likvidumo rizikos valdymo temomis. Apibendrinami esminiai likvidumo rizikos vertinimo ir valdymo metodai bei principai. Atlikta mokslinės literatūros analizė bei kiekybinis rezultatų vertinimas. Teorinėje ir praktinėje dalyse siekiama apibrėžti likvidumo riziką ir jos valdymo strategijas komerciniame banke, įvertinti likvidumo rizikos valdymą konkretaus banko pavyzdžiu. Atlikta „AS UniCredit Bank“ likvidumo rizikos analizė, vertinimas pagal nustatytus normatyvus bei testavimas nepalankiomis sąlygomis pagal tris galimus scenarijus. Mokslinės literatūros analizė bei kiekybinis rezultatų vertinimas iliustruotas lentelėmis ir paveikslais. Pasiūlytos likvidumo vertinimo ir valdymo metodų tobulinimo kryptys. Darbą sudaro 8 dalys. Darbo apimtis – 54 p. teksto be priedų, 3 iliustr., 15 lent., 38 bibliografiniai šaltiniai. Atskirai pridedami darbo priedai.<br>The business risk assessment and management is becoming important problem in a difficult economic situation. Instability requires constant attention to liquidity measurement and management. Due to Complexity of economic conditions, liquidity risk management process can not be isolated. Liquidity risk management topics of Lithuanian and foreign authors are analyzed and structured in Master’s work. The essential liquidity risk measurement and management methods and principles are summarized. An analysis of scientific literature and quantitative evaluation of the results is performed. The theoretical and practical parts define liquidity risk ant risk management strategies in a commercial bank, the liquidity risk management model for a particular bank is assessed. AS UniCredit Bank's liquidity risk analysis, assessment according to established standards and testing in adverse conditions, according to three scenarios was performed. The scientific literature analysis and quantitative evaluation of the results is illustrated by tables and pictures. Trends of The liquidity measurement and management of development are suggested. The work consists of 8 parts. Work size - 54 p. without appendixes, 3 pictures., 15 tables., 38 references. Appendixes included separately.

Mestrado em Gestão e Estratégia Industrial<br>Diversos trabalhos realizados nos anos mais recentes enfatizam a necessidade de explorar o tema da gestão de risco, nomeadamente pela existência de alguma imaturidade dos agentes económicos na compreensão do conceito e das suas implicações práticas. Com o objetivo de contribuir para um maior entendimento do tema, apresentamos este estudo, cujo objetivo é avaliar de que modo a gestão de risco é parte integrante da estratégia e da tomada de decisão das empresas em Portugal, bem como de que fatores depende a sua implementação. A investigação realizada alicerçou-se na recolha de dados de natureza qualitativa e quantitativa das empresas constantes no Portuguese Stock Index (PSI) Geral da Euronext Lisboa, tentando compreender a razão pela qual estas adotam práticas de gestão de risco, tendo por base um referencial teórico relacionado com as temáticas do risco, incerteza e estratégia. Baseados num modelo de regressão linear múltipla, verificámos que os fatores mais relevantes na adoção de práticas de gestão de risco são a dimensão da empresa, medida pelo logaritmo do ativo total da empresa e o facto de esta possuir ou não uma função de gestão de riscos. Com este estudo pretendemos consciencializar o tecido empresarial em Portugal para a necessidade da implementação de departamentos e grupos de trabalho que se debrucem sobre o tema da gestão de risco, de modo a que seja possível às empresas antecipar eventos, estudar soluções e identificar oportunidades de negócio.<br>Several studies in recent years have emphasized the need to explore the issue of risk management, particularly because of the immaturity of economic agents in understanding the concept and its practical implications. In order to contribute to a better understanding of the subject, we present this study, which aims to evaluate how risk management is an integral part of Portuguese companies' strategy and decision making, as well as the factors in which its implementation depends on. The research was based on the collection of qualitative and quantitative data from the companies included in Euronext Lisbon General Portuguese Stock Index (PSI), trying to understand the reason why companies adopt risk management practices, based on a theoretical framework related to risk, uncertainty and strategy themes. Based on a multiple linear regression model it was found that the most relevant factors in adopting these practices are the size of the company, measured by the logarithm of its total assets and whether or not it has a risk management function. This study aims to contribute to the awareness of companies in Portugal to the need to implement departments and work groups that address the issue of risk management, so that it is possible for companies to anticipate events, study solutions and identify business opportunities.<br>info:eu-repo/semantics/publishedVersion

The main aim of this research is to develop a conceptual model that describes the way managers make decisions about internationalizing. It also tries to explain under what conditions managers will be risk-seekers and under what conditions they will be risk-averse, and as a result which groups of strategies and tools they will choose to use when internationalizing. This investigation focuses on the field of behavioural economics in opposition to leading paradigms in the IB field that concentrate on the neoclassical economic theory. This research uses an interdisciplinary approach that combines the behavioural economics approach and theories drawn from the field of entrepreneurship, IB, market relations, industrial organization, RBV and institutional theory, in order to develop a comprehensive theoretical framework that can explain from the senior manager's perspective when and why s/he chooses certain variables and not others. The findings link the manager's perception of his position vis-à-vis his industry reference point (IRP are defined as any variable that highlights a particular objective, seems capable of establishing a reference point, and as a result, creates a framework for organizational/individual decision making) and his decision making in the area of risk management, learning, and product adaption and development. The findings indicate that managers below their IRP display innovation when developing new marketing/distribution channels, and share their knowledge with partners. Nevertheless, they demonstrate low awareness of risk management. In contrast, managers above their IRP focus on the organization's existing technology and marketing and distribution channels and avoid adjusting their products to the market needs and sharing knowledge with distributors. On the other hand, they adopt an active risk management strategy.Additionally we link between the manager's perceptions of his position vis-à-vis his IRP and his choice of entry mode strategy. The findings indicate that a number of differences exist between managers below their IRP and managers above their IRP. Managers below their IRP use positioning strategies but use TCA or institutional strategies very little. In contrast, managers above their IRP use TCA or institutional strategies but will hardly use positioning strategies at all. The two types of managers use network strategy and RBV, but each group uses different factors within the theories. The research makes a number of important contributions to study of the IB sphere, particularly to the fields of research relating to the internationalization of BG companies, which is a relatively new field of knowledge. Today there is no comprehensive theoretical framework explaining the way BG companies internationalize and the reasons they choose one strategy or tool over another when entering foreign markets. The present research attempts to establish a conceptual model that describes the way managers make internationalization decisions. It does so by importing a new discipline from the field of behavioural economics into the IB field, which is deeply wedded to the tradition of neo-classical economics and integrates it with existing strategies in the field to create a conceptual model that mediates between traditional IB research and the BG research stream.

Purpose- This thesis aims to identify the role of the Balanced Scorecard (BSC) for managing strategy risks as well as the types of strategy risks that can be managed using four perspectives of the BSC in the Iranian Petroleum Industry Equipment Manufacturers (IPIEM). Design/ approach/ methodology- In this thesis cross-sectional design and the deduction approach are used. For collecting data for quantitative analysis, a questionnaire was conducted by the research team. Then the data collected from respondents were then analyzed through running simple linear regression analysis in the SPSS software. Findings- The first research question (RQ) is about BSC’s roles in managing strategy risks in IPIEM. These roles are risk assessment, risk controlling and collecting data for decision making of strategy risks. It was proved by the research team that BSC can play a role of the assessment of strategy risks in IPIEM. This means by using BSC as an RM tool in IPIEM, companies can assess strategy risks through identifying, analysing and evaluating strategy risks. However, the results indicate risk controlling and collecting data for decision making cannot be managed by using BSC. The second Research question is about the types of strategy risks that four perspectives of BSC can manage. The results show that from the 8 strategy risks chosen for this thesis, 6 of them which are “liquidity risk” from the financial perspective; “risk of clients’ opposition to pilot testing of the product” from the customer perspective; “risk of improper design of the product at development stages”, and “risk of improper selection of international partners” from the internal perspective; “risk of incorrect evaluation &amp; selection of technology options” and “the risk of not enough operational experience in similar previous projects” from the learning and growth perspective can be managed through using BSC as an RM tool in IPIEM. Based on the conclusion of RQ1, the effect can now be adjusted into RQ2 findings. This study concludes that IPIEM can use BSC for risk assessment of the above-mentioned six different strategy risks. It can also be concluded that the BSC cannot be a full RM tool for managing strategy risks in the companies, since it only can apply for one of the three processes of RM; risk assessment.

For my project I’ve chosen to create a Business Plan for a Crisis Management Consultancy company. To do this I’ve used a limited company and named it Navigator Ltd. In the preceding project I’ve explained all the essential steps needed to create a new company, as well as pointing out the importance of crisis management for various companies on the market. I’ve described the services in detail, compared the competing businesses in the field of crisis management, shown a view of the future and built a personnel infrastructure of the described company. I’ve created a realistic company strategy and planned budgets needed for a smooth start.

Areas underlain by dolomite pose a risk for sinkhole and doline development and subsequently have serious implications towards the safe planning of towns. Research also indicates that almost all sinkholes and dolines formed on dolomitic areas were man-induced and may be contributed to a lack of informed decision making by town planners. Consequently, town-planning decisions must have a guiding plan to avoid unsuitable development on such areas. Such a guiding plan was identified as a Dolomite Risk Management Plan (DRMP). A DRMP has in recent years become a legal responsibility, to be implemented where development is taking place on areas underlain by dolomite according to SANS 1936 and the Geoscience Amendment Act, (16 of 2010). There however currently exists a need to determine to what extent a DRMP contributes to the town planning decisions making process. The aim of this study is to determine to what extent currently existing Dolomite Risk Management Plans contribute to a town planning decision-making process by means of the analysis of four case studies. Four case studies were assessed against a framework compiled through a literature study of all applicable legislation to determine to which extent each complies with the compulsory legislation in South Africa needed to guide safe and sustainable development. The study indicated that a need existed for a DRMP to guide town-planning decisions because it is people‟s constitutional right to be protected and to live in a safe environment. It was also concluded, through the random sampling and assessment of available results from four case studies against criteria from applicable legislation, that currently only 50% are capable of informing and guiding town planning decisions adequately.<br>M (Environmental Management), North-West University, Potchefstroom Campus, 2015

碩士<br>國立中央大學<br>財務金融研究所<br>94<br>The paper focuses on two things：First, to compare conservation, accuracy, and efficiency of forecast performance of 5 VaR models：historical simulation method, Variance-Covariance method, Monte-Carlo simulation method(Multi-Normal), Monte-Carlo simulation method(Constant Conditional Correlation, CCC), and Monte-Carlo simulation method(Dynamic Conditional Correlation, DCC)；Second, use RAROC to compare stock portfolio performances simulated by different stop-loss methods, and so as foreign exchange portfolios and bond portfolios. Data are derived from Taiwan Economic Journal database, Gre-Tai Market (OTC), and Datastream database；sample period begins from 2001 to 2005. Conservation, accuracy, and efficiency of five VaR methods perform differently form stock, foreign exchange, to bond portfolios. For stock portfolios, DCC method performs best in accuracy and efficiency. As for foreign exchange portfolios, historical simulation method stands out both in conservation and accuracy； however, variance-covariance method performs best in efficiency. As far as bond portfolios are concerned, Multi-Normal method performs best in conservation, accuracy, and efficiency, whereas forecasts of the other four methods tend to so conservative that number of these model’s exception are zero which may result form selection of sample period. In 2001, yield to maturity of 5 year government bond is around 5% which yield to maturity drops to 2% or so in 2004；nevertheless, yield to maturity of 5 year government bond fluctuates around 1.7%；Therefore, an extremely variable sample period would lead to overestimate variation of bond returns which result in model misspecification. Empirical evidence shows that the optimal VaR method differs from asset returns. Concerning dynamic simulation portfolios, only stock portfolios have ever touched hurdle rate and adjusted portfolio holdings. As for RAROC, portfolios observed weekly and hurdle rate is 20% performs best. For sensitivity analysis, CCC method and DCC method’s scores are highest and that means CCC method and DCC method whose capacity of covering loss better than the other three methods.

碩士<br>國立中山大學<br>國際高階經營管理研究所<br>90<br>Abstract In today’s worldwide economy, to stay competitive a company needs to take advantage of every opportunity to lower their costs, to increase margins and realize the saving that can come from doing business overseas. Today trillions of dollars in the currencies trade everyday in markets around the world. The currency markets are considered to be one of the most efficient markets. As companies dealing with import and export, they have exposure to currencies risk. The increasing difficulty in understanding exchange rate determination has led to for corporations how to approach the currency hedging decision. The importance of financial and operational hedges as tools for managing foreign-currency exposure is examined. In this thesis, the three basic methods for evaluating the currency risks are with the use of the spot rate method, the future rate method and the currency options. The results are summarized as follow: 1.In terms of currency exposure, the sport rate method leaves the currency exposure un-hedged. Futures and the options hedge technique are most widely used and the information to evaluate the use of these instruments as a hedging tool is readily available. Still, the less efficiency method is the future rate method. The most effective approach is the currency options, have the advantage of more flexibility than the future rate. 2.By comparison with the future rate and currency options, the future rate is determinate by swap point, the negative connotations attached to its disadvantage is the “fixed currency rate”. No matter the currency moves toward company’s favor or unflavored, the funds to fulfill the forward contract will be exercised in maturity date. Other than the future rate hedge, the currency options are based upon the “Buy Call”. Within a certain period in the future, when currency rate is moving toward currency’s profit or loss, the company could decide to exercise or give up the “Buy Call”. The difference is that the currency option hedge is determined by the “Right to Exercise Buy Call” or “Right No to Exercise Buy Call” which give company more flexibility in FX hedging. In conclusion, the re-thinking of currency hedging is conservative because it is single-mindedly focused on risk-reducing approaches to exchange rate risk management.

博士<br>國立成功大學<br>交通管理學系碩博士班<br>95<br>Aviation insurance has become a heavy burden for the airline industry business since September 11, 2001. Most of the literature written for and about the airlines has concentrated on the operation and management of the industry, but very few studies have examined the question of aviation insurance. The purpose of this thesis is to survey the historical data of aviation insurance premiums and investigate expert opinions to identify determinants of aviation insurance and their priority. First, this study adopted literature review and in-depth interview with experts is working in airline and insurance company was conducted to categorize factors of influence aviation insurance. Following this study applied quantitative historical data (1999~2000) and grey relation analysis (GRA) to identify the primary factors influencing ratemaking for aviation insurance premiums. Fuzzy analytic hierarchy process (FAHP) was used to analysis the priority of influencial factors from expert quesionnair. Finally, to compare the outcome between GRA and FAHP to suggest risk management strategies throuth loss experience of individual airlines. Both of results from subjective and objective methods showed that the loss experience and performance of individual airlines were the key elements associated with aviation insurance premiums paid by each airline. After normalizing original loss data, this research used a risk analysis matrix to compare the loss severity against loss frequency of the six airlines and to suggest the best risk management strategies at different loss severity and frequency levels. By identifying and understanding the primary factors influencing ratemaking for aviation insurance, airlines will better understand their relative operational strengths and weaknesses, and further help top management identify areas for further improvement. Knowledge of these factors combined with effective risk management strategies could potentially result in lower premiums and a reduction in expenditures for airline companies.

碩士<br>實踐大學<br>財務金融與保險研究所<br>101<br>It is inevitable that Cloud Computing will trigger off some loss exposures. Unfortunately, not much of scientific and objective researches had been focused on the identification and evaluation of loss exposures stemming from applications of Cloud Computing. In order to fill this research gap, this study attempts to identify and analyze loss exposures of Cloud Computing by scientific and objective methods which provide the necessary information to administrators in support of decisions of risk management. In conclusion, this study has identified “Social Engineering”, “Cross-Cloud Compatibility” and “Mistakes are made by employees intentionally or accidentally” are high priority risks to be treated. The findings also revealed that people who work in the field of information or Cloud Computing are somehow ignorant of where the risks in Cloud Computing lie due to its novelty and complication.

碩士<br>國立中央大學<br>財務金融學系在職專班<br>101<br>Taiwan is an export-oriented economy and thus firms have foreign exchange rate exposures. By a case study, this dissertation examines the exchange risks, exchange risk management tools and costs of this specific multinational firm in Taiwan. This study has four findings. First, if the local currency (in this case, NTD) appreciates at the expiration date of the forward contract, the trading cost of the forward contract is the lowest one. However, if the local currency depreciates at the expiration of the forward contract, no hedge has the lowest trading cost. Second, in this case study, the translation exposure cannot be hedged by the forward contract or balance-sheet method. Rather, the risk is mitigated by the capital management. Third, hedging economic exposure usually involves in the rearrangement of tangible assets (for example, re-locate the manufacturing cite). Such method is inflexible and thus is less likely to be immediately and widely used by firms. To mitigate the economic exposure, the case company reduces the difference between sales revenue and sales costs in U.S. dollars, improves the production process, and increases USD-nominated loans. Finally, the case company adopts several strategies to mitigate the exchange rate exposure, and simulation results show that hedging through exercising forward contract or using call/put options can effectively mitigate the foreign exchange risks.

碩士<br>國立臺灣大學<br>國際企業學研究所<br>91<br>The risk management strategy is getting more and more important for business management and becoming a key factor in its core competencies. Though venture capital industry is high risk and high return, this paper will focus on strategic management point of view to analyze the operation risks of venture capital industry in Taiwan, such as the lack of funding risk, the shortage of good quality deals risk, the insufficient professionals risk, the risk of different expectations from shareholders, the risk of going-concern and investment risk. This paper also classifies the current risk management strategies adopted by venture capital industry into Risk Reduction Strategy, Risk Separation Strategy, Risk Avoidance Strategy, Risk Transfer Strategy and Risk Retention Strategy, etc. According to the above observation and analysis, this paper provides a new investment risk managerial model for a venture fund’s decision on increasing investments for its current portfolios. This model is based on financial measurements to infer a simple reference model for those engaging in the venture capital oriented managerial strategies in Taiwan. The key findings yielded in this study include notably: (1) In Taiwan, venture capital is developing toward this “big players will always grow bigger” trend both on capital and investment networks. Consequently, those ordinary investment firms sharing characteristics in common would be in mounting competition more severely. (2) A majority of venture capital firms in Taiwan set up their risk management strategies by cumulating their previous failures or sour performance. As a result, each and every venture capital firm takes not necessarily integral and complete risk management strategies; (3) Even if the internationalization is an unavoidable choice for risk management strategy to venture capital in Taiwan, Taiwan’s venture capital should concern for whether their resource layout and managerial platforms are efficient and effective or not. Otherwise, they just conclude the efforts to spread out resources alone, and could never achieve the synergy results; (4) In Taiwan, those venture capital oriented business concerns are advised to verify they have got adequate team arrangement and comprehensive investment plans at the moment raising the funds. If not, though with capital funds on hand, they could not possibly achieve investment yield to live up to investors’ satisfaction. Instead, they would heighten operation risks in the future; (5) Only the cooperation between incubating venture capital firms and ordinary venture capital firms can possibly accomplish the goals - both helping business incubation and investing in risk management strategies; (6) In Taiwan, the venture capital can bring down the future operation risks by successful cases which were dominating by the venture capital; (7) The “Improved BCG model for investment risk managerial strategy” in this study can provide a streamlined quantitative tool into the common and impersonal criteria for the portfolio of the venture capital. In practice, this model is equally applicable to diverse business lines as a handy reference for their risk management strategy. Key words: venture capital, operation risks, risk management strategies, model.

碩士<br>靜宜大學<br>資訊碩士在職專班<br>103<br>What is Cloud Computing? What specific benefits does it give to enterprise operation? What kind of risk will it cause if it is used? Is it safe? Are there any rules of international credibility to follow? These questions do bother people! The research follows clauses made by Cloud Security Alliance CSA（Cloud Security Alliance）“Security Guidance for Critical Areas of Focus in Cloud Computing V3.0“ for Critical Areas of Focus in Cloud Computing and I use it to analyze Cloud Computing， study it and give some suggestions. I hope to give some references to the enterprises when they estimate Cloud Computing.