Risk management

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Risk (342)
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Synopsis: Risk: Risk management:

Ahti Salo (M. Sc. 1987, D. Tech. 1992) is Professor at the Systems analysis Laboratory with research interests in decision analysis, decision support systems, technology foresight, and risk management.

development of proactive risk assessment methodologies for different corporate risk management purposes (identiffyin the vulnerability of corporate and process actions, managing the risks in occupational, industrial and environmental safety, managing business risks, etc.),

Risk assessment and risk management concepts can refer e g. to risk assessment related to health risk, toxicology, ecology, food safety or industrial use 12,

In recent years the approach towards more comprehensive and holistic risk management has strengthened. Approaches like inherent safety 26 in process design as well as resilience engineering 27 in process operating address the complex nature of industrial process.

This approach has raised recently interest in the risk management field. Resilience engineering originates from the resilience thinking of ecosysste dynamics 38 implying that ecosystems must cope with continuous changes and constant evolution.

As an analogy to Fig. 3. The process of risk analysis, risk assessment and risk management 20.1167 R. Koivisto et al./

As in resilience engineering, the dominant normative safety/risk management strategy is replaced by a natural or adaptive strategy in the new paradigm of risk management.

Risk management is based not on a striving for perfection from the start nor even on systematic surveillance of deviances for the purpose of correcting them,

Hence, the risk management paradigm is changing towards a more holistic approach. The process safety is considered not component-by-component anymore

According to this new risk management paradigm errors and failures are normal in industrial processes and the process management just has to cope with them.

INNORISK researchers also point out that risk management is not only about identifying and assessing risks and selecting risk reducing measures,

One core idea in risk management is to find out early warning signals and near miss situations and learn lessons from them

The same idea belongs also to the holistic risk management where safety is created in the process by evolving the intrinsic safety potential of the process.

How case studies contributed to risk management methodology? The results show that the integration of proactive risk assessment

The study showed that risk management is not just about identifying and assessing risks, but also about being able to respond quickly

Due to the need of developing more holistic risk management processes responding the continuous change, the future risk assessment shows up as a methodology that should increasingly adapt supplementary elements from many different approaches such as FTA.

This may, for example, concern integration of theories of networks or organisational culture in risk management more solidly.

not only when forming a risk management team, but also when forming the methodology and tools for the use of these teams.

, International organisation for Standardization, Switzerland, 1999.19 International organization for Standardization (ISO), Risk management vocabulary guidelines for use in standards, ISO Guide, vol. 73, International organisation for Standardization, Switzerland, 2002.20

Quality Management of Safety Analysis, Elsevier, Amsterdam, 1993, pp. 71 78.34 SME Risk management Toolkit. SME vulnerability analysis, Booklet, http://www. pk-rh. com/(Read 5. 4. 2007), VTT, 2002.35 J. Paasi, P. Valkokari, P. Maijala

A. Volkery, T. Ribeiro/Technological forecasting & Social Change 76 (2009) 1198 1207 UK government's strategy on flood and coastal erosion risk management,

In this case promoting variation also constitutes a risk management approach, whereby a policy is more able to work as its environment changes

This links well with the concept of risk-society 69 and risk management. Our analysis suggests that this can be contributed partly to the selected process design for developing the scenarios.

Also, from the viewpoint of risk management, the presence of interdependencies makes it advisable to provide some flexibility 31,32 in scheduling,

study, International Journal of Project Management 20 (2002) 1 11.31 E. Osipova, P. E. Eriksson, Balancing control and flexibility in joint risk management:

Implications for European and international risk management practices',Food Control, 20: 345 56. Mendonc¸A s.,Pina e Cunha, M.,Ruff, F. and Kaivo-oja, J. 2009)‘ Venturing into the wilderness:

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