• Title/Summary/Keyword: Risk mitigation

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IT Risk Assessment: Case Study on Domestic Construction company (IT 리스크 평가 연구사례: 국내 건설사 적용 사례)

  • Lee, youngjai;Lee, Sungjung;Lee, Seongil
    • Journal of Korean Society of societal Security
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    • v.2 no.1
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    • pp.47-55
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    • 2009
  • Organizations and customers lose if business activities are discontinued by an incident of information systems under the current business environment because they pursue real time enterprise and on demand enterprise. The loss includes the intangible decline in brand image, customer separation, and the tangible loss such as decrease in business profits. Thus, it is necessary to have preparedness in advance and mitigation for minimization of a loss due to the business discontinuity and IT risks. This paper described a IT risk assessment case about domestic construction company.

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Risk Mitigation for Independent Power Producer Projects in Developing Countries Based on Case Studies (사례연구를 통한 개발도상국 민자발전사업 리스크 경감방안)

  • Yoon, Young-Il;Yoo, Ho-seon;Yeo, Yeong-Koo
    • Plant Journal
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    • v.9 no.1
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    • pp.50-57
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    • 2013
  • This study investigates the risks that can occur during the development stage of IPP project in developing countries. In case that ECA and MLA cannot participate due to poor credit rating of the country, the diversification of power purchaser in marginal states can be a great help to reduce both market risk and country risk at the same time. In case of thermal power plants and combined cycle power plants, the effect of performance degradation as time passed will be considered and expected profit of sponsors should be maintained. Recently, developing countries are expanding IPP projects to reduce the financing cost and Korean power companies are positively participating in IPP projects. Accordingly, the loss of Korean companies should be minimized by risk management through the risk mitigation methods of this study.

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Indoor Radon and Lung Cancer: Estimation of Attributable Risk, Disease Burden, and Effects of Mitigation

  • Kim, Si-Heon;Koh, Sang-Baek;Lee, Cheol-Min;Kim, Changsoo;Kang, Dae Ryong
    • Yonsei Medical Journal
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    • v.59 no.9
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    • pp.1123-1130
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    • 2018
  • Purpose: Exposure to indoor radon is associated with lung cancer. This study aimed to estimate the number of lung cancer deaths attributable to indoor radon exposure, its burden of disease, and the effects of radon mitigation in Korea in 2010. Materials and Methods: Lung cancer deaths due to indoor radon exposure were estimated using exposure-response relations reported in previous studies. Years of life lost (YLLs) were calculated to quantify disease burden in relation to premature deaths. Mitigation effects were examined under scenarios in which all homes with indoor radon concentrations above a specified level were remediated below the level. Results: The estimated number of lung cancer deaths attributable to indoor radon exposure ranged from 1946 to 3863, accounting for 12.5-24.7% of 15623 total lung cancer deaths in 2010. YLLs due to premature deaths were estimated at 43140-101855 years (90-212 years per 100000 population). If all homes with radon levels above $148Bq/m^3$ are effectively remediated, 502-732 lung cancer deaths and 10972-18479 YLLs could be prevented. Conclusion: These findings suggest that indoor radon exposure contributes considerably to lung cancer, and that reducing indoor radon concentration would be helpful for decreasing the disease burden from lung cancer deaths.

Risk Mitigation Methodology of the General Conditions of Contract (공사계약일반조건의 위험요인 감소방안)

  • Yoon, Chul-Sung;Kwon, Soon-O;Kim, Seon-Gyoo
    • Korean Journal of Construction Engineering and Management
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    • v.6 no.5 s.27
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    • pp.177-185
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    • 2005
  • Construction uncertainties are frequently exposed to the claims. In most cases, an interpretation of the claims is based on the construction contract. Therefore, the key points of contract negotiation are how to fairly distribute the contract risks to the client and contractor. For these, a FIDIC that is considered as an international standard contract form would be a good reference to decide reasonable contract risk distribution. In order to find out any unreasonable and unfair contract clauses at the general conditions of contract applying generally to public construction project in Korea, this study surveys, analyses and evaluates the general conditions of contract based on a FIDIC, and then proposes a risk mitigation methodology to response those clauses' risk factors reasonably.

Development of the FMEA-based Backdoor Transaction Improvement Model (FMEA를 활용한 뒷문거래 개선모델 개발)

  • Ryou, Sungkook;Kim, Sunho;Kim, Chongman
    • Journal of the Korea Safety Management & Science
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    • v.21 no.4
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    • pp.7-15
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    • 2019
  • This paper proposes the FMEA-based model to avoid backdoor transactions when purchasers select suppliers for products and services. In the model, backdoor transactions consist of two categories: backdoor selling and maverick buying. Both of which influence negative effects on cost savings due to not only uncompetitive advantage but also unusable purchasing leverage by unethical and misbehavior of purchase requestors. For the risk evaluation based on FMEA, three and five risk types of backdoor selling and maverick buying are identified respectively. Current risk priority numbers(RPN) based on those risk types are calculated by three categories: occurrence, detection and severity. Six risk mitigation strategies and fourteen mitigation tactics are identified to improve current RPN. In order to validate the model, questionnaires are collected from fifteen companies and statistically analyzed. The analysis result shows that the model reduces backdoor transaction risks and has no differences in reduction of backdoor transaction risks regardless of the type of purchasing organization units and existence of purchasing procedures in the organization.

Risk Analysis and Selection of the Main Factors in Fishing Vessel Accidents Through a Risk Matrix (위험도 매트릭스를 이용한 어선의 사고 위험도 분석과 사고 주요 요인 도출에 관한 연구)

  • WON, Yoo-Kyung;KIM, Dong-Jin
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.25 no.2
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    • pp.139-150
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    • 2019
  • Though, fishing vessel accidents account for 70 % of all maritime accidents in Korean waters, most research has focused on identifying causes and developing mitigation policies in an attempt to reduce this rate. However, predicting and evaluating accident risk needs to be done before the implementation of such reduction measures. For this reasons, we havve performed a risk analysis to calculate the risk of accidents and propose a risk criteria matrix with 4 quadrants, within one of which forecasted risk is plotted for the relative comparison of risks. For this research, we considered 9 types of fishing vessel accidents as reported by Korea Maritime Safety Tribunal (KMST). Given that no risk evaluation criteria have been established in Korea, we established a two-dimensional frequency-consequence grid consisting of four quadrants into which paired frequency and consequence for each type of accident are presented. With the simple structure of the evaluation model, one can easily verify the effect of frequency and consequence on the resulting risk within each quadrant. Consequently, these risk evaluation results will help a decision maker employ more realistic risk mitigation measures for accident types situated in different quadrants. As an application of the risk evaluation matrix, accident types were further analyzed using accident causes including human error (factor) and appropriate risk reduction options may be established by comparing the relative frequency and consequence of each accident cause.

Barriers to Realization of Forestry Mitigation Potential in India

  • Murthy, Indu K;Prasad KV, Devi
    • Journal of Forest and Environmental Science
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    • v.34 no.5
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    • pp.405-411
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    • 2018
  • Implementation of mitigation options on land is important for realisation of the goals of the Paris Agreement to stabilize temperature at $2^{\circ}C$. In India, the Intended Nationally Determined Contribution (INDC) targets include a forestry goal of creation of carbon sinks of 2.5 to 3 billion tonnes by 2030. There are however, multiple barriers to implementation of forestry mitigation options in India. They include environmental, social, financial, technological and institutional barriers. The barriers are varied not just across land categories but also for a land category depending on its regional location and distribution. In addition to these barriers is the impeding climate change that places at risk realisation of the mitigation potential as rising temperatures, drought, and fires associated with projected climate change may lead to forests becoming a weaker sink or a net carbon source before the end of the century.

Probabilistic Method of Risk Assessment in Voltage Sag Mitigation Studies (순간전압강하 보상을 위한 확률론적 위험도 분석 연구)

  • Han, Jong-Hoon;Jang, Gil-Soo;Park, Chang-Hyun
    • Journal of IKEEE
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    • v.14 no.3
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    • pp.236-243
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    • 2010
  • Power quality mitigation devices play an important role in lots of industrial segments. Although there were many devices available in the market, the selection of an appropriate device specially for voltage sags and interruptions mitigation has been a challenge in the utility and customer for several years. It usually depends on technical and economic characteristics of the device. Nevertheless, most mitigation method is selected by rule of thumb or empirical method. In this paper, the life cycle cost analysis for the probabilistic risk assesment of voltage sag mitigation method is performed using either the deterministic or probabilistic approach. The difference between a deterministic and a probabilistic cost analysis approach is illustrated with five different case studies. This paper not only provides a comparison of life cycle costing of various devices but it also indirectly shows the possible savings due to the mitigation of voltage sags in the form of a project balance chart.

A Study on the Optimum Disaster Mitigation Activity to Establish the Early Counter System on the Industrial Accidents (산업체재난 조기 대응체계 구축을 위한 최적 재해경감활동 방안 연구)

  • Lee, Keun-Jae;Yoon, Myong-O;Lee, Won-Ho
    • Fire Science and Engineering
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    • v.24 no.2
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    • pp.9-20
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    • 2010
  • This study indicates direction on establishment of the operational plan for disaster mitigation and its implementation for maintaining business continuity of the local company of the first step, and seeks plans for maintaining their continuity through the establishment of early counter system constructed for achieving lasting safe at the any disaster. For achieving it, we investigated the standard of disaster management selected by the government called "Incident Preparedness and Operational Continuity Plan" Guideline, and investigated a guideline to be easily applied to domestic companies. And, we also studied on how to build the operational plan of disaster mitigation and apply IT techniques to A corporation. Especially, this study indicates the models of establishment of risk assessment, impact analysis, prevention and mitigation plan, response management plan for the establishment of plan among 5 main steps on "Incident Preparedness and Operational Continuity Management" Guideline. We devised the plan to activate the disaster mitigation activity throughout the country. It shows the skills to be prepared to upgrade the level of disaster response in this study.

A Study on the Link between the Serious Accidents Punishment Act and the Enterprise Disaster Management Standard: Focused on the Serious Industrial Accidents (중대재해처벌법과 재해경감활동관리체계 연계방안 연구 - 중대산업재해 중심)

  • Lee, Byoung-Lim;Kim, Sang-Duk;Choi, Jae-Wook
    • Journal of the Society of Disaster Information
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    • v.18 no.3
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    • pp.660-671
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    • 2022
  • Purpose: This study is intended to confirm the business disruptive risk in the Serious Accidents, and propose a plan to comply with the Serious Accidents Punishment Act through the Disaster Mitigation Activity Management System. Method: Through literature review and case studies, the requirements and characteristics of each of the Serious Accidents Punishment Act, the Disaster Mitigation Activity Management System, and ISO 45001 were compared and analyzed, and implications were derived. Result: The business disruption and financial adverse effects caused by industrial accidents were identified. Based on this and by using the Disaster Mitigation Activity Management System, measures to link the documentation requirements of the the Serious Accidents Punishment Act to the Disaster Mitigation Activity Management System, and to manage the implementation records of the Serious Accidents Punishment Act's duty were derived. Conclusion: When establishing and operating the Disaster Mitigation Activity Management System, it can not only comply with the Serious Accidents Punishment Act but also contribute to maintaining business continuity and ESG management through the prevention of various disasters and the minimization of secondary damage, etc.