Hazards and Risks

PurposeThe purpose of this paper is to identify the perceptions of farmers on the major sources of risk and to examine the effectiveness of the risk management responses of rural smallholder farm households in the semi-arid region of Northern Ghana from the socioeconomic perspective.Design/methodology/approachBoth descriptive statistics and exploratory factor analysis were used on a Likert scale question to rank and identify the important risk perceptions and management strategies of the farmers. The linear regression model was used to highlight the significant factors that affect the farmers’ risk perception and management responses.FindingsThe effects of the variations in crop yield, fertiliser prices and crop price on household income were perceived as the three most relevant sources of risk. Stabilising household income by growing different crops, storing feed/seed reserves and spreading sales were the most effective risk management strategies. Factor analysis identified market risk, production risk and human risk as major risk factors whereas diversification, financial strategy, and off-farm employment were perceived as the most effective risk management strategies. Farm and farmer characteristics were found to be significantly associated with risk perceptions and risk management strategies. Risk perceptions significantly increase the risk management strategy adopted by the smallholder rural farmers.Practical implicationsThe findings of the paper call for the integration of farmers’ risk perceptions and management strategies in the development of agricultural policies for the semi-arid regions of Ghana.Originality/valueThis paper deviates from the traditional technology adoption studies by modelling rural household perceptions and management strategies using, using descriptive, factor analyses, and linear regression.

This article examines the use of enterprise risk management (ERM) by companies in Canada, the characteristics that are associated with the use of ERM, what obstacles companies face in implementing ERM, and what role, if any, corporate governance guidelines have played in the decision to adopt ERM. We obtained our data from the responses to a mail survey sent to Canadian Risk and Insurance Management Society members as well as telephone interviews with 19 of the respondents. The results indicate that 31 percent of the sample had adopted ERM and that reasons for adopting ERM include the influence of the risk manager (61 percent), encouragement from the board of directors (51 percent), and compliance with Toronto Stock Exchange (TSE) guidelines (37 percent). The major deterrents to ERM were an organizational structure that discourages ERM and an overall resistance to change. Although only about one‐third of companies indicated that they had adopted an ERM approach, evidence was clear that a larger portion of the sample was moving in that direction, as indicated by what changes they had observed in their companies in the past three years. These include the development of company‐wide guidelines for risk management (45 percent), an increased awareness of nonoperational risks by operational risk management personnel and an increased awareness of operational risks by nonoperational risk management personnel (49 percent), more coordination with different areas responsible for risk management (64 percent), and more involvement and interaction in the decision making of other departments. Contrary to what we expected, there was not a significant difference between firms that are listed on the TSE versus those that are not in terms of the propensity to use ERM. However, the fact that 37 percent of firms indicated that the TSE guidelines were influential in their decision to adopt ERM provides some evidence that the guidelines are influencing companies’ risk management strategies.

This study aims to comprehensively examine the risk management practices, challenges, and strategies employed during the construction of the Suramadu Bridge. A structured data collection process began with defining clear objectives to identify risks related to structural integrity, environmental impacts, financial uncertainties, project delays, and safety concerns. Key search terms such as "Suramadu Bridge construction," "risk management in bridge construction," and "construction risk assessment" guided searches across reputable online databases like Google Scholar, IEEE Xplore, ScienceDirect, the ASCE Library, JSTOR, and SpringerLink. Articles were selected based on relevance, credibility, publication date, and analytical depth. Data from these articles were extracted and organized, documenting metadata, key points, risk types, and mitigation strategies. The synthesized data revealed common themes and unique insights into the risk management practices during the Suramadu Bridge construction. The discussion delved into these themes, comparing and contrasting different risk management strategies from the literature. Key findings included effective mitigation strategies for financial and environmental risks, the importance of early risk assessment, and the role of continuous monitoring. Challenges in managing these risks were analyzed, showing how they were overcome or mitigated. The report concluded with recommendations for future infrastructure projects, emphasizing a systematic and proactive approach to risk management. Utilizing tools such as Zotero for reference management, Excel for data organization, and Microsoft Word for report compilation ensured efficiency and accuracy. This approach provided valuable insights into risk management for large infrastructure projects, offering a robust foundation for future research and practice.

The coupled human-landscape system (CHLS) conceptual model, developed by Hossain et al. (2020), integrates natural and social processes using system dynamics to capture interactions and feedbacks between socio-economic and biophysical systems. This model enables the assessment of mountain communities’ risks and resilience to natural hazards. However, further development of the model is necessary to deepen understanding of key interactions and feedbacks. The goal is to refine the CHLS model as a “blueprint” for providing insights into future trajectories of mountain community risk and resilience, while also broadening perspectives on hazard and risk management by integrating adaptation strategies into the context of governance arrangements.The ACRP project EMERGENCE explores how transdisciplinary knowledge co-creation within a multi-scale assessment framework—encompassing climate triggers, geomorphometric characteristics, mitigation efforts, and exposure dynamics—enhances understanding of the processes driving torrential loss events and the resilience of mountain communities. This approach bridges the gap between conceptual human-landscape interaction modelling and the practical knowledge of stakeholders in hazard risk management. The insights gained inform adaptation strategies that are tailored to stakeholder needs.We present how Austrian experts in hazard and climate risk management identified damage triggers and examined their interactions within the CHLS framework. These efforts contributed to refining the model at the conceptual or numerical level, or by enhancing its basic assumptions. This process has strengthened the CHLS model’s capacity to provide insights into future trajectories of mountain community resilience and adaptation strategies. Reference:Hossain, M.S., Ramirez, J.A., Haisch, T., Speranza, C.I., Martius, O., Mayer, H., & Keiler, M. (2020). A coupled human and landscape conceptual model of risk and resilience in Swiss Alpine communities. Science of the Total Environment, 730, 138322. https://doi.org/10.1016/j.scitotenv.2020.138322

Risk control and management are becoming increasingly important in many organisational operations. It goes beyond the business sector to include security organisations like police departments. The fact that police officers engage in a widerange of daily activities that expose them to a variety of potentially hazardous situations Police risk management includes both physical and financial aspects. Risk identification is the first step in the risk management process, followed by risk analysis, risk evaluation, and risk treatment. According to the literature, the Dubai Police Department has no framework in place to fully manage risks and evaluate the effectiveness of police operations. Early warning systems are critical for detecting potential severe RM because police departments must rely on them to manage risks and keep track of any potential new risks. As a result, the UAE police department's risk management strategy was investigated in this paper. It classified the data collection process using exploratory factor analysis, which wasa quantitative approach. A self-administered survey yielded 381 valid questionnaires from Dubai Police Department officers. The study's findings revealed that risk identification, risk analysis, risk evaluation, and risk response are the four fundamental steps of effective risk management. The Crobach Alpha test was used to assess the consistency and reliability of the data, and the result was 0.814, indicating that the data is suitable for use. Only one of the twenty indicators, which were divided into four groups for risk management, was weak according to outliers and communalities tests. The risk management process was accurately described by another 20 factors. Total variance extraction yielded a rate of 57.130 percent, which was higher than the required 50%. As a result, the risk management procedure investigated in this study may be useful for effectively managing risks in the UAE police force.

Healthcare facilities play an important role in safeguarding life and ensuring well-being towards attaining Sustainable Developmental Goals (SDGs) 2030. However, healthcare organizations are harmful, requiring risk management to ensure occupational safety. This study evaluated the effect of risk management on workers’ safety at the University of Medical Sciences Teaching Hospital, Ondo State. This study utilized a qualitative research methodology with a questionnaire to collect data, analysed using descriptive and inferential statistics of regression model and Analysis of Variance (ANOVA). The results revealed a positive effect of risk management on workers' safety at the University of Medical Sciences Teaching Hospital, Ondo State. Health workers had undergone risk and safety management training and were aware of risk management practices. Incident reporting was the widely used risk management strategy, while safety training was underutilized. The lack of commitment of health workers to risk management procedures was a significant constraint. The study recommended a well-designed risk management policy and systematic employee training to promote healthy and safe working conditions for health workers.

Technological advancement has exposed companies to various risks. With the adoption of technological infrastructures in many companies, various processes have been rendered vulnerable to different forms of threats. Evidence from the current empirical studies on organizational management indicates effective risk assessment is a crucial aspect in any organization. Global technological advancement has equally redefined risk assessment and management strategies. Global leading technology companies such as Apple Inc., Amazon Inc., and Google are leveraging modern technology to unlock hidden data to aid in risk assessment and management. As evidenced in this research report, the use of big data has revolutionized risk assessment in many companies across the world. Big data technology has enabled organizations to collect, store, and assess huge information to aid in risk assessment and management. The pro-cesses of risk identification, assessment, mitigation, monitoring, and reporting have been redefined due to the adoption of big data analytical technology. As a result, this research reviews the specific roles played by big data in organizational risks management. The research carries out a comparative case study analysis among three companies that utilize big data in risk management. Specifically, the roles of big data technology in risk management at Apple Inc., Amazon Inc., and at Google are identified. Results from this comparative analysis are used in formulating recommendations for various organizations that desire to adopt big data analytical technology in risk management.

Purpose: The purpose was to study the effect of risk management practices on the insurance companies performance in Kenya. The objective of the study was to assess the effect of the risk management practices on the performance of firms in the insurance industry. Methodology: The study embraced descriptive survey design. This study’s target population comprised of all the 56 insurance firms in Kenya that are duly registered, licensed and regulated by the IRA. Since the number of insurance firms are few, this study proposed to use census survey and it purposively used underwriting managers as a source of crucial information for the study. This study relied on both primary and secondary data. Data was analyzed using the Statistical Package for Social Sciences (SPSS) version 26. Quantitative data was analyzed using descriptive statistics including frequency, percentages and means, summary graphs, pie charts and frequency distribution tables was employed. This study also conducted inferential statistics through correlation analysis. The study results was presented through use of tables and figures. Findings: The study found out that revealing that all four strategies significantly enhance financial stability, profitability, and operational efficiency, with Risk Reduction Strategy having the strongest effect. Unique Contribution to Theory, Practice and Policy: To strengthen performance, firms should adopt structured risk assessment frameworks, invest in predictive analytics, enhance loss prevention programs, and expand risk transference mechanisms such as reinsurance partnerships. Additionally, fostering a strong risk management culture through employee training and regular strategy reviews is essential for long-term sustainability. The study recommends further research on the role of technological advancements, regulatory compliance, and economic factors in risk management, as well as the impact of policyholder behavior on insurance firms’ financial resilience and market competitiveness.

Introduction Due to the vastness of various construction practices globally, there is a need for knowledge mapping. Through the utilisation of research on Project Risk Management (PRM) for the Construction Industry, it is possible to carry out an investigation into the processes that pertain to knowledge management. To elaborate on the current research emphasis from three different points of view, namely the influence of political risk, risk assessment, and risk management strategies, the knowledge map analysis method has been elected as the appropriate approach. Knowledge mapping provides a systematic way to visualise research trends, identify gaps, and strengthen the understanding of PRM in international construction projects. Methods This scientific investigation, conducted in the field of risk management research, considers publications related to risk management. The study was conducted as a systematic literature review that adopted bibliometrics approach to explore the data from Dimensions database that have been reviewed using PRISMA 2020 statement. This study intends to present Knowledge Mapping for PRM in the Construction Industry, using data from 2000-2025. The analysis focused on three dominant research dimensions: political risk, risk assessment, and risk management strategies. It uses literature on studies that have been carried out on project risk and provides a comprehensive perspective on the topic. Results The knowledge maps revealed distinct clusters of research activity across the three focal areas. Political risk emerged as a consistent theme in studies addressing international and cross-border construction contexts. Research on risk assessment showed significant methodological diversity, while studies on risk management strategies tended to emphasise both technological tools and organisational processes. Overall, the mapping highlighted increasing scholarly attention to integrated and holistic approaches to PRM. Some under-researched areas, particularly knowledge-transfer processes and cross-national learning mechanisms, were also identified. The findings demonstrate that knowledge mapping is a valuable tool for understanding the evolution and priorities of PRM research in the construction industry. Discussion The study makes use of Knowledge Mapping to offer some suggestions for research areas concerning risk management in international construction projects. These knowledge maps are founded on the investigations that were conducted on project risk management. However, the development of Knowledge Maps offers good contribution to knowledge for best practices in the construction sector. By identifying patterns and gaps, the study provides guidance for future investigations and encourages the development of improved risk management practices in global construction projects. The resulting knowledge maps contribute meaningfully to the field by supporting better decision-making, improving risk-handling capabilities, and informing best practices for the construction sector.

In today's globalized business landscape, enterprises face increasing reliance on intricate supply chains to deliver goods and services efficiently. However, this interconnectedness exposes organizations to diverse risks, exacerbated by factors like natural disasters, geopolitical tensions, and technological vulnerabilities. The COVID-19 pandemic further emphasized the vulnerability of supply chains, prompting the urgent need for robust risk management strategies. Interstate conflicts also significantly influence supply chain risks, posing challenges such as trade disruptions and security vulnerabilities. To mitigate these risks, enterprises must adopt proactive risk management strategies, enhance supply chain resilience, and leverage technology-enabled solutions for real-time monitoring and response. The study examines supply chain risk management (SCRM) practices in healthcare establishments in Algeria and Ukraine, comparing countries with differing healthcare systems. The research aims to identify disparities in SCRM approaches and their consequences. Results reveal that while both countries prioritize technology for predictive analysis, Algerian managers emphasize collaboration with other institutions. The study suggests integrating SCRM technology into enterprise management system, prioritizing advanced technological solutions, scenario planning, collaborative partnerships, comprehensive risk management plans, continuous monitoring, and strengthening supplier relationships to enhance supply chain resilience and continuity in healthcare service delivery. These findings underscore the importance of efficient SCRM strategies in mitigating supply chain disruptions and ensuring uninterrupted healthcare services. By implementing these strategic measures, healthcare establishments can enhance their SCRM capabilities, thus promoting resilience, efficiency, and continuity in healthcare service delivery across diverse healthcare systems.

The article proposes an innovative system of supervision and data acquisition, oriented to fire safety through a dynamic risk analysis, called supervisory control and dynamic risk analysis (SCADRA). SCADRA achieves operation and management benefits for safety, functionality, and energy optimization, by means of dynamic control and monitoring measures. A “Smart Tunnel” can be defined as a model where technical systems are designed and installed in an advanced way, by using digital components and sensors. SCADRA has been developed to offer a complete tool (human machine interface) for real-time monitoring of tunnel safety by tunnel operators, integrated with the innovative dynamic risk analysis. SCADRA offers compensatory and/or supplementary safety measures for emergency management and supports fire rescue teams that are operating in tunnel in which some requirements could not be realized.

The paper proposes an innovative system of supervision and data acquisition, oriented to fire safety through a dynamic risk analysis, called SCADRA (Supervisory Control and Dynamic Risk Analysis). SCADRA achieves operation and management benefits for safety, functionality and energy optimization, by means of dynamic control and monitoring measures. A “Smart Tunnel” can be defined as a model where technical systems are designed and installed in an advanced way, by using digital components and sensors. SCADRA has been developed to offer a complete tool (human machine interface HMI) for real time monitoring of tunnel safety by tunnel operators, integrated with the innovative dynamic risk analysis. SCADRA offers compensatory and/or supplementary safety measures for emergency management and supports fire rescue teams that are operating in tunnel in which some requirements couldn't be realized.

This paper analyses the methods and frameworks used by firms in emerging markets when adapting their risk management strategies across the different dimensions of the strategic, financial, institutional, and operational scopes. In addition to the existing literature surrounding enterprise risk management and the emerging economies (Boubaker et al. 2016), this particular study looked to understand the response of firms to increased levels of uncertainty attributed to macroeconomic turbulence, coupled with the regulatory and or institutional voids. With the use of a constructive integrative approach in the comparative and institutional literature, this paper attempts to consolidate analyses surrounding the firm-level adaptations to fragmented markets and governance policy constraints, coupled with an unpredictable policy environment. Empirical evidence suggests that risk management frameworks that are based (modified or otherwise) on global standards issued by the international regulatory bodies are rarely used by the firms in emerging economies. Rather, such firms tend to contextualize their systems by adjusting their frameworks to align with the institutional setting of the emerging economies within which they operate. In particular, firms tend to incorporate informal governance, relational contracting, and political risk-attribute frameworks into their strategic decision-making processes to counter regulatory and enforcement gaps (Henisz and Zelner 2015; Khanna and Palepu 1997). In response to the currency instability, gaps in capital market accessibility, and limited credit, the financial risk management practices and operational risk mitigate flexibility, redundancy, and supply chain risks, and the control mechanisms straddle. This type of operational adaptation signals a responsiveness to the management of risk in environments of continuous uncertainty and fundamental transformation. Integrated and context-sensitive risk management practices in emerging markets consistently outperform the application of standardized global models, which serves as the basis of the postulate of the undertaken research. Furthermore, the research illustrates that the alignment of risk management and local institutional order conditions proves the greatest resilient and high-performing divergence when compared to the application of systemic, contextually blind models (Hoskisson et al. 2000; McNeil et al. 2015). This conclusion elevates the importance of institutional knowledge as a distinctly relevant factor within enterprise risk management.

Microfinance institutions (MFIs) play a crucial role in promoting international and local development goals, especially in the context of poverty reduction, economic empowerment, and financial inclusion. MFIs provide financial services, such as microloans and savings accounts, to low-income individuals and small businesses. These services are intended to help people lift themselves out of poverty by providing access to capital for income generating activities. Many of the United Nations' Sustainable Development Goals, such as no poverty, zero hunger, and gender equality, can be furthered through the work of MFIs. However, it's essential to note that the impact of MFIs varies depending on the specific institution, its approach, and the regulatory environment in which it operates. While microfinance has the potential to be a powerful tool for development, it is not a panacea and must be implemented effectively to achieve the desired outcomes. Consequently, MFIs face various risks in their operations, which impact their financial stability and ability to achieve their social and economic development goals. To manage these risks effectively, MFIs need to implement robust risk management strategies. The specific objective of carrying out this study was to examine the extent to which risk management influences the financial performance of Rushere Savings and Credit Cooperative Organization in Kiruhura Uganda. The research questions focused on risk assessment, diversification of portfolio, credit risk management, member education, technology risk management, and insurance risk coverage. This study was based on a quantitative research approach. The study was underpinned by the modern portfolio theory. A descriptive research design was used to obtain the responses that were later statistically described in quantified formats. The study considered a target population of 160 people from which a sample size of 127 respondents was selected for this study. Both Stratified proportionate sampling and simple random sampling techniques were used to select individual respondents in their strata. Structured self-administered questionnaires were used for primary data collection. Data was analyzed by the use of inferential statistics with the aid of Statistical Package for Social Scientists (SPSS) version 24.0. The study established a significant positive relationship between risk management and financial performance (β1=-124, p=0.000<0.05). The study concluded that there is a strong positive relationship between risk management and financial performance. The study recommended the implementation of risk management strategies to enhance the performance of SACCOs. Keywords: Risk Management, Performance, Strategy, SACCOs

Purpose. This study aimed to explore health professionals' perspectives regarding the presence, assessment and management of risks when providing community-based rehabilitation (CBR) to clients with acquired brain injury (ABI).Method. A qualitative approach using semi-structured interviews of health professionals working in CBR.Results. The main themes were: (1) risk assessment in CBR settings is an informal, unstructured, complex, multi-phase and cyclical process extending over a period of time; (2) structured and standardised risk assessments were not considered ideal for use in CBR services catering for people with ABI; (3) CBR services face numerous challenges in providing effective risk assessment and management; (4) the risks encountered by health professionals in CBR settings are not always predictable or preventable; and (5) CBR risk management focuses on implementing a range of practical strategies.Conclusions. A flexible risk assessment process supported by a range of practical risk management strategies to minimise and manage potential risks is advocated by health professionals working in CBR services for people with ABI. There is a need for more research into the effectiveness of current risk assessment and management strategies for CBR services.