IDEAS home Printed from https://ideas.repec.org/a/eee/reensy/v99y2012icp74-86.html
   My bibliography  Save this article

Identification and evaluation of priorities in the business process of a risk or safety organization

Author

Listed:
  • Teng, Kuei-Yung
  • Thekdi, Shital A.
  • Lambert, James H.

Abstract

Agencies are increasingly following principles and guidelines for the coordination of risk assessment, risk management, and risk communication in large-scale programs. In particular, there is a challenge to comply with the U.S. Office of Management and Budget (OMB) memorandum “Updated Principles for Risk Analysis†among other guidelines. This paper demonstrates a systemic approach to achieve compliance of a risk program with administrative and organizational principles and guidelines for risk analysis. The paper suggests three canonical questions as the mission of such a program: (i) what sources of risks are to be managed by the program, (ii) how should multiple risk assessment, risk management, and risk communication activities be administered and coordinated, and what should be the basis for resource allocation to these activities, and (iii) how will the performance of the program be monitored and evaluated. The paper demonstrates a re-prioritization of policy initiatives of the program based on emergent and future conditions. The approach is useful to agencies implementing risk or safety organizational guidelines such as those of the OMB, the US Government Accountability Office, the US Department of Homeland Security, the US Department of Defense, and others. This paper will be of interest to risk managers; agencies; and risk and safety analysts engaged in the conception, implementation, and evaluation of risk or safety programs.

Suggested Citation

  • Teng, Kuei-Yung & Thekdi, Shital A. & Lambert, James H., 2012. "Identification and evaluation of priorities in the business process of a risk or safety organization," Reliability Engineering and System Safety, Elsevier, vol. 99(C), pages 74-86.
  • Handle: RePEc:eee:reensy:v:99:y:2012:i:c:p:74-86
    DOI: 10.1016/j.ress.2011.10.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0951832011002067
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.ress.2011.10.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Skogdalen, Jon Espen & Vinnem, Jan Erik, 2011. "Quantitative risk analysis offshore—Human and organizational factors," Reliability Engineering and System Safety, Elsevier, vol. 96(4), pages 468-479.
    2. Zio, E., 2009. "Reliability engineering: Old problems and new challenges," Reliability Engineering and System Safety, Elsevier, vol. 94(2), pages 125-141.
    3. Aven, Terje, 2011. "On the new ISO guide on risk management terminology," Reliability Engineering and System Safety, Elsevier, vol. 96(7), pages 719-726.
    4. Matthew J. Schroeder & James H. Lambert, 2011. "Scenario-based multiple criteria analysis for infrastructure policy impacts and planning," Journal of Risk Research, Taylor & Francis Journals, vol. 14(2), pages 191-214, February.
    5. Kadak, Andrew C. & Matsuo, Toshihiro, 2007. "The nuclear industry's transition to risk-informed regulation and operation in the United States," Reliability Engineering and System Safety, Elsevier, vol. 92(5), pages 609-618.
    6. Martinez, Lauro J. & Lambert, James H. & Karvetski, Christopher W., 2011. "Scenario-informed multiple criteria analysis for prioritizing investments in electricity capacity expansion," Reliability Engineering and System Safety, Elsevier, vol. 96(8), pages 883-891.
    7. Aven, Terje, 2011. "Selective critique of risk assessments with recommendations for improving methodology and practise," Reliability Engineering and System Safety, Elsevier, vol. 96(5), pages 509-514.
    8. Yacov Y. Haimes, 1991. "Total Risk Management," Risk Analysis, John Wiley & Sons, vol. 11(2), pages 169-171, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aven, Terje & Renn, Ortwin, 2018. "Improving government policy on risk: Eight key principles," Reliability Engineering and System Safety, Elsevier, vol. 176(C), pages 230-241.
    2. Abrahamsen, Eirik Bjorheim & Moharamzadeh, Alireza & Abrahamsen, Håkon Bjorheim & Asche, Frank & Heide, Bjørnar & Milazzo, Maria Francesca, 2018. "Are too many safety measures crowding each other out?," Reliability Engineering and System Safety, Elsevier, vol. 174(C), pages 108-113.
    3. T. R. Wang & N. Pedroni & E. Zio & V. Mousseau, 2020. "Identification of Protective Actions to Reduce the Vulnerability of Safety‐Critical Systems to Malevolent Intentional Acts: An Optimization‐Based Decision‐Making Approach," Risk Analysis, John Wiley & Sons, vol. 40(3), pages 565-587, March.
    4. Terje Aven, 2013. "On How to Deal with Deep Uncertainties in a Risk Assessment and Management Context," Risk Analysis, John Wiley & Sons, vol. 33(12), pages 2082-2091, December.
    5. Almutairi, Ayedh & Collier, Zachary A. & Hendrickson, Daniel & Palma-Oliveira, José M. & Polmateer, Thomas L. & Lambert, James H., 2019. "Stakeholder mapping and disruption scenarios with application to resilience of a container port," Reliability Engineering and System Safety, Elsevier, vol. 182(C), pages 219-232.
    6. Aven, Terje, 2017. "Improving risk characterisations in practical situations by highlighting knowledge aspects, with applications to risk matrices," Reliability Engineering and System Safety, Elsevier, vol. 167(C), pages 42-48.
    7. Vrishali Subramanian & Elena Semenzin & Danail Hristozov & Esther Zondervan-van den Beuken & Igor Linkov & Antonio Marcomini, 2015. "Review of decision analytic tools for sustainable nanotechnology," Environment Systems and Decisions, Springer, vol. 35(1), pages 29-41, March.
    8. Hernandez-Perdomo, Elvis & Guney, Yilmaz & Rocco, Claudio M., 2019. "A reliability model for assessing corporate governance using machine learning techniques," Reliability Engineering and System Safety, Elsevier, vol. 185(C), pages 220-231.
    9. Elizabeth B. Connelly & Lisa M. Colosi & Andres F. Clarens & James H. Lambert, 2015. "Risk Analysis of Biofuels Industry for Aviation with Scenario‐Based Expert Elicitation," Systems Engineering, John Wiley & Sons, vol. 18(2), pages 178-191, March.
    10. Baozhuang Niu & Zongbao Zou, 2017. "Better Demand Signal, Better Decisions? Evaluation of Big Data in a Licensed Remanufacturing Supply Chain with Environmental Risk Considerations," Risk Analysis, John Wiley & Sons, vol. 37(8), pages 1550-1565, August.
    11. Thekdi, Shital A. & Lambert, James H., 2015. "Integrated risk management of safety and development on transportation corridors," Reliability Engineering and System Safety, Elsevier, vol. 138(C), pages 1-12.
    12. Aven, Terje, 2016. "Risk assessment and risk management: Review of recent advances on their foundation," European Journal of Operational Research, Elsevier, vol. 253(1), pages 1-13.
    13. Daniel DiMase & Zachary A. Collier & Kenneth Heffner & Igor Linkov, 2015. "Systems engineering framework for cyber physical security and resilience," Environment Systems and Decisions, Springer, vol. 35(2), pages 291-300, June.
    14. Hamilton, Michelle C. & Lambert, James H. & Connelly, Elizabeth B. & Barker, Kash, 2016. "Resilience analytics with disruption of preferences and lifecycle cost analysis for energy microgrids," Reliability Engineering and System Safety, Elsevier, vol. 150(C), pages 11-21.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rogerson, Ellen C. & Lambert, James H., 2012. "Prioritizing risks via several expert perspectives with application to runway safety," Reliability Engineering and System Safety, Elsevier, vol. 103(C), pages 22-34.
    2. Hamilton, Michelle C. & Lambert, James H. & Connelly, Elizabeth B. & Barker, Kash, 2016. "Resilience analytics with disruption of preferences and lifecycle cost analysis for energy microgrids," Reliability Engineering and System Safety, Elsevier, vol. 150(C), pages 11-21.
    3. Haowen You & Elizabeth B. Connelly & James H. Lambert & Andres F. Clarens, 2014. "Climate and other scenarios disrupt priorities in several management perspectives," Environment Systems and Decisions, Springer, vol. 34(4), pages 540-554, December.
    4. Aven, Terje, 2012. "The risk concept—historical and recent development trends," Reliability Engineering and System Safety, Elsevier, vol. 99(C), pages 33-44.
    5. Asadzadeh, S.M. & Azadeh, A., 2014. "An integrated systemic model for optimization of condition-based maintenance with human error," Reliability Engineering and System Safety, Elsevier, vol. 124(C), pages 117-131.
    6. Rajkumar Bhimgonda Patil & Basavraj S Kothavale & Laxman Yadu Waghmode, 2019. "Selection of time-to-failure model for computerized numerical control turning center based on the assessment of trends in maintenance data," Journal of Risk and Reliability, , vol. 233(2), pages 105-117, April.
    7. Quentin Perrier, 2017. "The French Nuclear Bet," Working Papers 2017.18, Fondazione Eni Enrico Mattei.
    8. Alberto Cerezo-Narváez & Andrés Pastor-Fernández & Manuel Otero-Mateo & Pablo Ballesteros-Pérez, 2022. "The Influence of Knowledge on Managing Risk for the Success in Complex Construction Projects: The IPMA Approach," Sustainability, MDPI, vol. 14(15), pages 1-30, August.
    9. Aven, Terje, 2016. "Ignoring scenarios in risk assessments: Understanding the issue and improving current practice," Reliability Engineering and System Safety, Elsevier, vol. 145(C), pages 215-220.
    10. Kasai, Naoya & Matsuhashi, Shigemi & Sekine, Kazuyoshi, 2013. "Accident occurrence model for the risk analysis of industrialfacilities," Reliability Engineering and System Safety, Elsevier, vol. 114(C), pages 71-74.
    11. Hiba Baroud & Jose E. Ramirez‐Marquez & Kash Barker & Claudio M. Rocco, 2014. "Stochastic Measures of Network Resilience: Applications to Waterway Commodity Flows," Risk Analysis, John Wiley & Sons, vol. 34(7), pages 1317-1335, July.
    12. Sven Ove Hansson & Terje Aven, 2014. "Is Risk Analysis Scientific?," Risk Analysis, John Wiley & Sons, vol. 34(7), pages 1173-1183, July.
    13. Ortwin Renn & Andreas Klinke, 2013. "A Framework of Adaptive Risk Governance for Urban Planning," Sustainability, MDPI, vol. 5(5), pages 1-24, May.
    14. Rodrigo Andrade & Somayeh Moazeni & Jose Emmanuel Ramirez‐Marquez, 2020. "A systems perspective on contact centers and customer service reliability modeling," Systems Engineering, John Wiley & Sons, vol. 23(2), pages 221-236, March.
    15. Phan, Hieu Chi & Dhar, Ashutosh Sutra & Bui, Nang Duc, 2023. "Reliability assessment of pipelines crossing strike-slip faults considering modeling uncertainties using ANN models," Reliability Engineering and System Safety, Elsevier, vol. 237(C).
    16. Rocchetta, Roberto & Crespo, Luis G., 2021. "A scenario optimization approach to reliability-based and risk-based design: Soft-constrained modulation of failure probability bounds," Reliability Engineering and System Safety, Elsevier, vol. 216(C).
    17. Niu, Gang & Yang, Bo-Suk & Pecht, Michael, 2010. "Development of an optimized condition-based maintenance system by data fusion and reliability-centered maintenance," Reliability Engineering and System Safety, Elsevier, vol. 95(7), pages 786-796.
    18. Yacov Y. Haimes, 2012. "Systems‐Based Guiding Principles for Risk Modeling, Planning, Assessment, Management, and Communication," Risk Analysis, John Wiley & Sons, vol. 32(9), pages 1451-1467, September.
    19. Dilip Roy & Saikat Banerjee, 2003. "Some Aspects of Insurance in the Context of Risk Management," Vision, , vol. 7(1), pages 89-97, January.
    20. Matthew H. Henry & Yacov Y. Haimes, 2009. "A Comprehensive Network Security Risk Model for Process Control Networks," Risk Analysis, John Wiley & Sons, vol. 29(2), pages 223-248, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reensy:v:99:y:2012:i:c:p:74-86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/reliability-engineering-and-system-safety .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.