Society for Risk Analysis - Fifth World Congress on Risk
Society of Environmental Toxicology and Chemistry (SETAC) - Ninth Biennial Meeting of SETAC Africa

"Development and Resilience"
Cape Town International Convention Centre

Session Schedule & Abstracts

* Disclaimer: All presentations represent the views of the authors, and not the organizations that support their research. Please apply the standard disclaimer that any opinions, findings, and conclusions or recommendations in abstracts, posters, and presentations at the meeting are those of the authors and do not necessarily reflect the views of any other organization or agency. Meeting attendees and authors should be aware that this disclaimer is intended to apply to all abstracts contained in this document. Authors who wish to emphasize this disclaimer should do so in their presentation or poster. In an effort to make the abstracts as concise as possible and easy for meeting participants to read, the abstracts have been formatted such that they exclude references to papers, affiliations, and/or funding sources. Authors who wish to provide attendees with this information should do so in their presentation or poster.

Common abbreviations

Risk Management Theory

Room: Meeting Room 1.42   3:30 pm–4:50 pm

Chair(s): James Bone

T4-B.3    3:30 pm Redesigning risk management for the digital economy. Bone J*; Columbia University, School of Professional Studies - Enterprise Risk Management

Abstract: Cognitive Risk Management A Cognitive Risk Framework is presented in response to asymmetric risks inherent in cyber risk and an economy increasingly driven by technology. The Five Pillars of a Cognitive Risk Framework are designed to help organizations right-size the allocation of risk resources. The five pillars include: Cognitive Governance, Intentional Control Design, Business Risk Intelligence & Legal Risk Assessment, Cyber Risk Intelligence & Human-Element design, and Cognitive Data & Human Integration. Cognitive Governance starts with an assessment of an organization's Risk Perception. A Cognitive Map is created through a Risk Perception Assessment which develops a road map for identifying blind sports across the organization and rebalances the focus of risk practice where the opportunity to reduce risk and improve processes is greatest. The Cognitive Map created by the Risk Perception Assessment drives the rest of the five pillars and determines the extent and need for implementing each program in the pillar. Intentional control design is the process of leveraging the results from the Cognitive Map and incorporates how people work to evaluate a risk solution design. Intentional control design is implemented to reduce "cognitive load". The Business, Risk & Legal Intelligence pillar is the process of research and development to refine risk management practice and business performance through an active process of intelligence gathering. The Cybersecurity Risk Intelligence and Human-Element Design pillar is similar to the intentional control design pillar but includes greater emphasis on the human-element of cyber risk. Lastly, the Cognitive Data and Human Integration pillar is designed to develop a robust decision support capability for targeted solutions. The cognitive data and human integration pillar is focused on creating Situational Awareness as a competitive advantage.

T4-B.4    3:50 pm Turning Enterprise Risk Management theory into practice in the jewellery industry –– the case with Soo Kee Group. Acharyya M*, Ying T; Glasgow Caledonian University (London Campus)

Abstract: Enterprise risk management (ERM) has been portrayed as a significant research area as it seeks to incorporate various risks into a single framework to advise a corporation’s strategic aims. However, decision-making in the presence of uncertainty is often left in the dark. We observed individual risk taking behaviour in Soo Kee Group, a leading jewellery company in Singapore (Case Study) with overseas operation in China and Malaysia. We collected data through both unstructured and structured surveys and analysed them using Bayesian Network Analysis technique. We observed individual’s (who do not have any formal knowledge on risk literacy) mental risk and reward attitude in business decision making in the presence of uncertainty. We found several levels of unstructured framework factoring the elements of fear and dread are used in decision making across the organisation. In particular, the individual’s decision making on risk and reward is significantly influenced by organisational [risk] culture and their position in the management hierarchy. We conclude that the lack of risk literacy creates barrier in decision making and a common language of risk can promote an effective enterprise-wide risk taking and decision making. This study provides corporations with information about how individuals evaluate risk and reward and how they take decisions in times of uncertainty. In the policy level the case study contributes to the field of modelling decision making under risk and uncertainty in small businesses.

T4-B.6    4:10 pm Developing a risk and capability assessments methodology for the Baltic Sea Region. Karlsson B*, Tomasson B; University of Iceland

Abstract: The work presented here was carried out within the EU funded project “Risk Management Capability Based on Gaps Identification in the BSR”, where the aim was to build knowledge on disaster risk management capability assessments and the development of a more common understanding of such assessments at national level in the Baltic Sea Region. This was a cooperative project with partners from Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, Norway, Poland and Sweden. The aim of the project was to contribute to the implementation of a macro-regional civil protection strategy and joint macro-regional prevention and preparedness approach towards major hazards and emergencies as set forth under the Policy Area Secure in the 2013 Action Plan. Among other things, the EUSBSR 14.3 project produced six scenarios (Extreme weather/storm, Flooding, Forest fire, Pandemic flu, an Accident at Sea and a Nuclear accident) and corresponding methodology for scenario development as well as assessments of impacts/consequences and likelihood. No single methodology for risk and capability assessments had previously been presented or agreed upon within the Baltic Sea Region. The project group concluded that it would be of great benefit for the Baltic Sea Region countries if a harmonized methodology for risk and capability assessments could be formulated and developed within the region. The methodology would have to be practical and flexible, should be applicable at all levels of government and to all actors in the field and should allow scenario analysis as well as experience from exercises and emergencies to be taken into account. Through a series of meetings and workshops, a methodology was developed by the project partners and tested on a given scenario (Extreme weather/storm). The project partners all agreed that the methodology developed and tested within the project would serve as a bases for a methodology for the BSR, to be improved upon and further developed within the region. A simple description of the methodology is presented.

T4-B.7    4:30 pm Brazilian Drug Traceability System. Melo VAZC*, Rodrigues AG, Beteto AL, Dias EM; University of São Paulo

Abstract: ANVISA, the Brazilian National Sanitary Surveillance Agency (Vigilância Sanitária), started exploring the concept of drug traceability to mitigate and manage the risk of stolen and falsified drugs in Brazil. The pilot was launched in August 2018 and the end design is going through its final phase, as the implementation phase begins in May 2019 and runs through May 2021. While the results are not final, some companies are already tracking their medications and communicating with the system, which is based on interoperability, tracking algorithms, and machine to machine communication technologies. The project is implemented in partnership with academia (University of São Paulo), with the purpose of specifying processes, algorithms, and actions capable of identifying risks of theft and counterfeit in the distribution chain. The Agency receives data from the logistic chain operations and computes a series of validations and data cross-checks to identify suspicious activity. The data flows directly from authorized members controlled by ANVISA based on thirteen web services. The computation results automatically and instantly, informing members of the logistic chain to move suspicious medicine out of the chain, and sending alerts to the Sanitary Surveillance Agency team on the field using mobile devices apps and push notifications.

[back to schedule]