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A New Approach to Fine Kinney Method and an Implementation Study

Author

Listed:
  • Murat Oturakçı
  • Cansu Dağsuyu
  • Ali Kokangül

Abstract

In the present day, importance of risk assessments are increasing due to rising awareness of occupational health and safety and excessing legal enforcements. Legal regulations in last years, force all the companies to complete their risk assessments according to their danger class in certain time periods. Technological changes in companies and new legislations are also forcing companies to do their risk assessments before its due time. This ensures risk analyses to be done in more frequent periods and increases importance of being applicable and suitable for the company’s structure of chosen risk assessment method. In this study, a new approach has been studied for Fine-Kinney method which is one of the mix risk assessment methods and which is used frequently in construction and cement industries. In this new approach, alternative scales have been created for probability and frequency scales which are used in conventional method. More probable and more frequent risk scores have been augmented to increase their sensitiveness and degree of importance. The new approach has been applied to a mid-scale company and positive or negative effects of scales, which are created with different interpolation results, have been examined. It has been observed that risk scores, which are obtained with the new approach, are more sensitive than conventional Fine-Kinney Methods’ risk scores. By this way, action plan of jobs has been changed and risks which are more important have been taken into consideration of company.

Suggested Citation

  • Murat Oturakçı & Cansu Dağsuyu & Ali Kokangül, 2015. "A New Approach to Fine Kinney Method and an Implementation Study," Alphanumeric Journal, Bahadir Fatih Yildirim, vol. 3(2), pages 83-92, December.
  • Handle: RePEc:anm:alpnmr:v:3:y:2015:i:2:p:83-92
    DOI: http://dx.doi.org/10.17093/aj.2015.3.2.5000139953
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    More about this item

    Keywords

    Fine-Kinney Method; Risk Analysis; Risk Assessment Methods;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • Z00 - Other Special Topics - - General - - - General

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