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Risk management

About: Risk management is a research topic. Over the lifetime, 57042 publications have been published within this topic receiving 902635 citations.


Papers
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BookDOI
01 Jul 2012
TL;DR: In this paper, a special report on Managing the Risks of Extreme Events and Disasters to Advance Climate Change Adaptation (SREX) has been jointly coordinated by Working Groups I (WGI) and II (WGII) of the Intergovernmental Panel on Climate Change (IPCC).
Abstract: This Special Report on Managing the Risks of Extreme Events and Disasters to Advance Climate Change Adaptation (SREX) has been jointly coordinated by Working Groups I (WGI) and II (WGII) of the Intergovernmental Panel on Climate Change (IPCC). The report focuses on the relationship between climate change and extreme weather and climate events, the impacts of such events, and the strategies to manage the associated risks. This Special Report, in particular, contributes to frame the challenge of dealing with extreme weather and climate events as an issue in decision making under uncertainty, analyzing response in the context of risk management. The report consists of nine chapters, covering risk management; observed and projected changes in extreme weather and climate events; exposure and vulnerability to as well as losses resulting from such events; adaptation options from the local to the international scale; the role of sustainable development in modulating risks; and insights from specific case studies. (LN)

4,126 citations

Book
01 Aug 2001
TL;DR: The Three Essential Activities: Core Asset Development, Software Engineering Practice Areas, and Single-System Development with Reuse - All Three Together.
Abstract: Foreword. Preface. Acknowledgements. Dedication. Reader's Guide. I. SOFTWARE PRODUCT LINE FUNDAMENTALS. 1. Basic Ideas and Terms. What Is a Software Product Line? What Software Product Lines Are Not. Fortuitous Small-Grained Reuse. Single-System Development with Reuse. Just Component-Based Development. Just a Reconfigurable Architecture. Releases and Versions of Single Products. Just a Set of Technical Standards. A Note on Terminology. For Further Reading. Discussion Questions. 2. Benefits. Organizational Benefits. Individual Benefits. Benefits versus Costs. For Further Reading. Discussion Questions. 3. The Three Essential Activities. What Are the Essential Activities? Core Asset Development. Product Development. Management. All Three Together. For Further Reading. Discussion Questions. II. SOFTWARE PRODUCT LINE PRACTICE AREAS. Describing the Practice Areas. Starting versus Running a Product Line. Organizing the Practice Areas. 4. Software Engineering Practice Areas. Architecture Definition. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Architecture Evaluation. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Component Development. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. COTS Utilization. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Mining Existing Assets. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Requirements Engineering. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Software System Integration. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Testing. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Understanding Relevant Domains. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. 5. Technical Management Practice Areas. Configuration Management. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Data Collection, Metrics, and Tracking. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Make/Buy/Mine/Commission Analysis. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Process Definition. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Scoping. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Technical Planning. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Technical Risk Management. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Tool Support. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. 6. Organizational Management Practice Areas. Building a Business Case. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Customer Interface Management. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Developing an Acquisition Strategy. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Funding. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Launching and Institutionalizing. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Market Analysis. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Operations. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Organizational Planning. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Organizational Risk Management. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Structuring the Organization. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. Discussion Questions. Technology Forecasting. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. Training. Aspects Peculiar to Product Lines. Application to Core Asset Development. Application to Product Development. Specific Practices. Practice Risks. For Further Reading. Discussion Questions. III. PUTTING THE PRACTICE AREAS INTO ACTION. 7. Software Product Line Practice Patterns. The Value of Patterns. Software Product Line Practice Pattern Descriptions. The Curriculum Pattern. The Essentials Coverage Pattern. Each Asset Pattern. What to Build Pattern. Product Parts Pattern. Assembly Line Pattern. Monitor Pattern. Product Builder Pattern. Cold Start Pattern. In Motion Pattern. Process Pattern. Factory Pattern. Other Patterns. Practice Area Coverage. Discussion Questions. 8. Product Line Technical Probe. What Is the Product Line Technical Probe? Probe Interview Questions. Probe Participants. Probe Process. Using the Probe Results. Conducting a Mini Self-Probe. Discussion Questions. 9. Cummins Engine Company: Embracing the Future. Prologue. Company History. A Product Line of Engine Software. Getting off the Ground. An Organization Structured for Cooperation. Running the Product Line. Results. Lessons Learned. Epilogue. Practice Area Compendium. For Further Reading. Discussion Questions. 10. Control Channel Toolkit: A Software Product Line that Controls Satellites. Contextual Background. Organizational Profiles. Project History. Control Channels. Launching CCT. Developing a Business Case for CCT. Developing the Acquisition Strategy and Funding CCT. Structuring the CCT Organization. Organizational and Technical Planning. Operations. Engineering the CCT Core Assets. Domain Analysis. Architecture. Component Engineering. Testing: Application and Test Engineering. Sustainment Engineering: Product Line Evolution. Documentation. Managing the CCT Effort. Early Benefits from CCT. First CCT Product. Benefits beyond CCT Products. Lessons and Issues. Tool Support Is Inadequate. Domain Analysis Documentation Is Important. An Early Architecture Focus Is Best. Product Builders Need More Support. CCT Users Need Reuse Metrics. It Pays to Be Flexible, and Cross-Unit Teams Work. A Real Product Is a Benefit. Summary. For Further Reading. Discussion Questions. 11. Successful Software product Line Development in Small Organization. Introduction. The Early Years. The MERGER Software Product Line. Market Maker Software Product Line Practices. Architecture Definition. Component Development. Structuring (and Staffing) the Organization. Testing. Data Collection and Metrics. Launching and Institutionalizing the Product Line. Understanding the Market. Technology Forecasting. A Few Observations. Effects of Company Culture. Cost Issues. The Customer Paradox. Tool Support. Lessons Learned. Drawbacks. Conclusions: Software Product Lines in Small Organizations. For Further Reading. Discussion Questions. 12. Conclusions: Practices, Patterns and Payoffs. The Practices. The Patterns. The Success Factors. The Payoff. Finale. Glossary. Bibliography. Index.

3,502 citations

Journal ArticleDOI
TL;DR: For instance, this article argued that analytic reasoning cannot be effective unless it is guided by emotion and affect, and argued that rational decision making requires proper integration of both modes of thought.
Abstract: Modern theories in cognitive psychology and neuroscience indicate that there are two fundamental ways in which human beings comprehend risk. The “analytic system” uses algorithms and normative rules, such as probability calculus, formal logic, and risk assessment. It is relatively slow, effortful, and requires conscious control. The “experiential system” is intuitive, fast, mostly automatic, and not very accessible to conscious awareness. The experiential system enabled human beings to survive during their long period of evolution and remains today the most natural and most common way to respond to risk. It relies on images and associations, linked by experience to emotion and affect (a feeling that something is good or bad). This system represents risk as a feeling that tells us whether it is safe to walk down this dark street or drink this strange-smelling water. Proponents of formal risk analysis tend to view affective responses to risk as irrational. Current wisdom disputes this view. The rational and the experiential systems operate in parallel and each seems to depend on the other for guidance. Studies have demonstrated that analytic reasoning cannot be effective unless it is guided by emotion and affect. Rational decision making requires proper integration of both modes of thought. Both systems have their advantages, biases, and limitations. Now that we are beginning to understand the complex interplay between emotion and reason that is essential to rational behavior, the challenge before us is to think creatively about what this means for managing risk. On the one hand, how do we apply reason to temper the strong emotions engendered by some risk events? On the other hand, how do we infuse needed “doses of feeling” into circumstances where lack of experience may otherwise leave us too “coldly rational”? This article addresses these important questions.

2,847 citations

Posted Content
TL;DR: In this paper, the authors develop a general framework for analyzing corporate risk management policies and argue that if external sources of finance are more costly to corporations than internally generated funds, there will typically be a benefit to hedging: hedging adds value to the extent that it helps ensure that a corporation has sufficient internal funds available to take advantage of attractive investment opportunities.
Abstract: This paper develops a general framework for analyzing corporate risk management policies. We begin by observing that if external sources of finance are more costly to corporations than internally generated funds, there will typically be a benefit to hedging: hedging adds value to the extent that it helps ensure that a corporation has sufficient internal funds available to take advantage of attractive investment opportunities. We then argue that this simple observation has wide-ranging implications for the design of risk management strategies. We delineate how these strategies should depend on such factors as shocks to investment and financing opportunities. We also discuss exchange-rate hedging strategies for multinationals. as well as strategies involving "nonlinear" instruments like options.

2,598 citations

Book
16 Oct 2005
TL;DR: The most comprehensive treatment of the theoretical concepts and modelling techniques of quantitative risk management can be found in this paper, where the authors describe the latest advances in the field, including market, credit and operational risk modelling.
Abstract: This book provides the most comprehensive treatment of the theoretical concepts and modelling techniques of quantitative risk management. Whether you are a financial risk analyst, actuary, regulator or student of quantitative finance, Quantitative Risk Management gives you the practical tools you need to solve real-world problems. Describing the latest advances in the field, Quantitative Risk Management covers the methods for market, credit and operational risk modelling. It places standard industry approaches on a more formal footing and explores key concepts such as loss distributions, risk measures and risk aggregation and allocation principles. The book's methodology draws on diverse quantitative disciplines, from mathematical finance and statistics to econometrics and actuarial mathematics. A primary theme throughout is the need to satisfactorily address extreme outcomes and the dependence of key risk drivers. Proven in the classroom, the book also covers advanced topics like credit derivatives. Fully revised and expanded to reflect developments in the field since the financial crisis Features shorter chapters to facilitate teaching and learning Provides enhanced coverage of Solvency II and insurance risk management and extended treatment of credit risk, including counterparty credit risk and CDO pricing Includes a new chapter on market risk and new material on risk measures and risk aggregation

2,580 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20243
20231,132
20222,572
20212,681
20203,039
20192,974