... of Project
Management, Fall 2008
7
Types of Risks
•
Quality Risks
•
Operational Risks
•
Most of the “Classic Mistakes”
–
Classic mistakes are made more often
Principle of Project
Management, ... it
•
Risk Exposure
–
Product of probability and potential loss
•
Problem
–
A risk that has materialized
Principle of Project
Management, Fall 2008
3
Risk Management
•
Problems that haven’t happened ...
project
Principle of Project
Management, Fall 2008
19
Principle of Project
Management, Fall 2008
29
Principle of Project
Management, Fall 2008
6
Types of Risks
•
Schedule Risks
•
Schedule compression...
... Hygiene
and
Tropical Medicine
and
WEDC,
Loughborough University,
UK.
PHLS (1959) Sewage contamination
of
coastal bathing waters
in
England
and
Wales:
a
bacteriological
and
epidemiological ... great
deal
of
evidence
was
available
on the
risk
of
exposure
to raw
wastewater
and
excreta,
and on the
risks
to
farm
workers
and
populations living nearby spray-irrigated
areas
... Acceptable
risk 207
Paul
R.
Hunter
and
Lorna Fewtrell
11
A
public health perspective
for
establishing water-related
229
guidelines
and
standards
Joseph
N.S. Eisenberg, Jamie Bartram
and
...
... LLMHH
RISK RATING
The risk matrix determines a risk rating’, based on the likelihood and consequence of risk.
RISK ASSESSMENT MATRIX
RATINGS
E = Extreme risk: immediate action required
H = High risk: ... is held on Council or public land, relevant
permits and licences are obtained and that a risk assessment and Event
Management Plan (attached below) is completed and forwarded to Council.
Please ... as a fresh perspective when undertaking risk assessment.
RISK CONTROL
In order to control the risk we need to work out the best method of handling the risk. Look at the following
methods, which...
... software and actions of the personnel both having elements and
output with several condition
Scenario Logic and Probabilistic
Management of Risk in Business
and Engineering
Management and risk
17
sociopolitical, ... The LP risk model with GIE allows one to perform
active scenario riskmanagement instead of passive riskmanagement of
insurance in other methods. Means and the maintenance of scenario
risk managements ... U.S.A.
Contents
Forewor
d
Introductio
n
xiii
Acronyms and general notations
1
9
Chapter 1. MANAGEMENTAND RISK
1.1.
1.2.
1.3.
1.4.
1.5.
1.6.
1.7.
1.8.
1.9.
1.10.
History of Interrelation of Managementand Risk
Reasons and consequences...
... identified between financial riskand some types of insurance risk. As a result, insurance
companies are using financial risk models to support their insurance risk modeling efforts. One interesting ... convince management of the value in
this information.
Page 34
The first five activities involve pulling, preparing, and loading data. These are important and must be a standard and
repeatable ... involves looking for and handling data
errors, outliers, and missing values. Once the data is accessed and cleaned, I create some routine variables through
summarization, ratios, and date math. On...
... variables into strong predictors. And every step of
the way, I worked through the one-model and two-model approaches. We are now ready to take our final candidate
variables and create the winning model. ... coefficients and create an output data set.
I am now ready to process my candidate variables in the final model for both Method 1 (one-step model) and Method 2
(two-step model). I can see from my candidate ... the remaining candidate variables, given that the first variable has
been selected and is explaining some of the variation in the data. If two variables are highly correlated and
one enters...
... with huge shifts in average debt and
risk profiles. Newer competitive industries like telecom and utilities will experience rapid shifts in market characteristics
and behavior.
Different selection ... then do;
if infd_ag2 < 40 then risk_ adj = 1.09;
else if infd_ag2 < 50 then risk_ adj = 1.01;
else if infd_ag2 < 60 then risk_ adj = 0.89;
else risk_ adj = 0.75;
end;
else if marital ... into 20 equal parts and display the
results.
A model is a powerful tool for ranking customers or prospects. Figure 7.5 shows the expected active rate, average risk
index, and three
-
year present
Figure...
... prospecting and more successful customer relationship management. You can segment and profile your
customer base to uncover those profit drivers using your knowledge of your customers, products, and ... replaces the missing values for pid80c4
and ppbluec and creates four new
variables, pid80crn, pc4_miss, ppbluecn, and pec_miss. (Note: I'm using the first and last two letters to create a three-
character ... largest scale will dominate the clustering procedure. The
following code standardizes the variables using PROC STANDARD:
proc standard mean=0 std=1 out=stan;
var age income;
run;
The programming to...
... selected all the customers now considered high risk or in default and a sample of those
customers who were still current and considered low risk. A high -risk customer was defined as any customer ... insurance. Banks assume risk through loans and credit cards, but other business such as utilities and
telcos also assume risk by providing products and services on credit. Virtually any company ... three-
way matrix of gender, age, and marital status. It easily could have been derived from a risk model. In
chapter 8, we saw how risk scores are used to segment customers and prospects. The model...
... power-
shoppers, and attritors to reactivators. Modeling and Classification can
also be used to support ad and site content personalization and to design and execute targeted promotions, offers and
incentives ... improvement
•
Web site design and user interface feedback
•
Customer community database management
•
Customer management strategies
•
Dynamic offer managementand rapid cycle offer testing
The ... and economic activities to forming friendships and families,
getting advice on important personal decisions, and feeling more confident and stable in our social
environment. Many people abandon...
... 8:59 AM Page 122
146 Credit and Collections Best Practices
Exhibit 7.1 Summary of Credit and Collections Best Practices
Best Practice Cost Install Time
Collection Management
7–1 Clearly define ... submitted data and list a budget number in the wrong account. In
either case, the budget must be reviewed by the subsidiary and a request made to
adjust the error, which takes still more time and effort.
An ... are
considerable for not having sufficient cash on hand to cover company obligations.
Many companies run the risk of not having sufficient funds on hand because they
want to earn interest on their...
... cost, time, and training required to ensure that this
system becomes fully operational and accepted by management, it is no surprise
that many such installations have not been completed, and even ... through the
cracks and remain in both the warehouse and the inventory database. The
accounting staff should keep track of all acknowledged obsolete inventory
and continue to notify management of those ... approval than the controller’s, and
they have a short implementation duration and are quite inexpensive to install
and operate. The main exceptions are target costing and activity-based costing,
which...
... can handle large transaction volumes, and will handle
unusual transactions. If a new system successfully passes all of these tests,
then it can be put into service. If not, it must be fixed and ... and then detach them from the checks and file them away again. All
of this movement of paper also raises the risk that documents will be misfiled
during the process of taking them out of files and ... review the lists and cross out any reports and
recipients that are no longer needed, it is usually possible to put a consider-
able dent in the accounting department’s reporting and filing chore.
238...
... part of the finance
staff’s workday and is highly subject to error. These tasks involve management of
a company’s cash position, investment and debt portfolio, andrisk analysis. The
normal approach ... Internet at www.riskgrades.com.
This on-line service grades the risk of any equity that the user enters into the
system, reviewing its equity, interest rate, currency, and commodity risk. This
results ... short-term and fixed-income
investments, equities, and options.
• Risk analysis. It allows an employee to use it as a giant calculator, perform-
ing what-if analyses with yield-curve manipulation and...
... into standard containers.
Its best application is for small parts that would otherwise be difficult to handle and
count.
Cost: Installation time:
16–11 Use Standard Containers to Move, Store, and ... receipt, movement, and issuance of parts to and from
stock. If any of these transactions are incorrect, the inventory quantities used to
derive the cost of goods sold, as well as of on-hand inventory, ... changes are advocated during the audit, such as giving con-
trols and self-audit training to the staff and managers of business units, and issu-
ing process improvement recommendations to unit managers....