Models and methods for operational risks assessment and mitigation are gaining importance in financial institutions, healthcare organizations, industry, businesses and organisations in general. This book introduces modern Operational Risk Management and describes how various data sources of different types, both numeric and semantic sources such as text can be integrated and analyzed. The book also demonstrates how Operational Risk Management is synergetic to other risk management activities such as Financial Risk Management and Safety Management. Operational Risk Management: a practical approach to intelligent data analysis provides practical and tested methodologies for combining structured and unstructured, semantic-based data, and numeric data, in Operational Risk Management (OpR) data analysis. Key Features: The book is presented in four parts: 1) Introduction to OpR Management, 2) Data for OpR Management, 3) OpR Analytics and 4) OpR Applications and its Integration with other Disciplines. Explores integration of semantic, unstructured textual data, in Operational Risk Management. Provides novel techniques for combining qualitative and quantitative information to assess risks and design mitigation strategies. Presents a comprehensive treatment of «near-misses» data and incidents in Operational Risk Management. Looks at case studies in the financial and industrial sector. Discusses application of ontology engineering to model knowledge used in Operational Risk Management. Many real life examples are presented, mostly based on the MUSING project co-funded by the EU FP6 Information Society Technology Programme. It provides a unique multidisciplinary perspective on the important and evolving topic of Operational Risk Management. The book will be useful to operational risk practitioners, risk managers in banks, hospitals and industry looking for modern approaches to risk management that combine an analysis of structured and unstructured data. The book will also benefit academics interested in research in this field, looking for techniques developed in response to real world problems.
This book presents techniques for effective and successful project management across all phases of the project, covering all of the management tools and leadership skills for any industrial project. It presents advanced modern tools for use by management and engineers in decision making, and it covers the gap between project management theories of the actual project. This volume is a «one-stop shop» for project and construction management of industrial projects, for engineers, managers, owners, and anyone else working on the project.
Features coverage of the service systems lifecycle, including service marketing, engineering, delivery, quality control, management, and sustainment Featuring an innovative and holistic approach, Service Science: The Foundations of Service Engineering and Management provides a new perspective of service research and practice. The book presents a practical approach to the service systems lifecycle framework, which aids in understanding and capturing market trends; analyzing the design and engineering of service products and delivery networks; executing service operations; and controlling and managing the service lifecycles for competitive advantage. Utilizing a combined theoretical and practical approach to discuss service science, Service Science: The Foundations of Service Engineering and Management also features: Case studies to illustrate how the presented theories and design principles are applied in practice to the definitions of fundamental service laws, including service interaction and socio-technical natures Computational thinking and system modeling such as abstraction, digitalization, holistic perspectives, and analytics Plentiful examples of service organizations such as automobile after-sale services, global project management networks, and express delivery services An interdisciplinary emphasis that includes integrated approaches from the fields of mathematics, engineering, industrial engineering, business, operations research, and management science A detailed analysis of the key concepts and body of knowledge for readers to master the foundations of service management Service Science: The Foundations of Service Engineering and Management is an ideal reference for practitioners in the contemporary service engineering and management field as well as researchers in applied mathematics, statistics, business/management science, operations research, industrial engineering, and economics. The book is also appropriate as a text for upper-undergraduate and graduate-level courses in industrial engineering, operations research, and management science as well as MBA students studying service management.
Practical tools and advice for managing financial risk, updated for a post-crisis world Advanced Financial Risk Management bridges the gap between the idealized assumptions used for risk valuation and the realities that must be reflected in management actions. It explains, in detailed yet easy-to-understand terms, the analytics of these issues from A to Z, and lays out a comprehensive strategy for risk management measurement, objectives, and hedging techniques that apply to all types of institutions. Written by experienced risk managers, the book covers everything from the basics of present value, forward rates, and interest rate compounding to the wide variety of alternative term structure models. Revised and updated with lessons from the 2007-2010 financial crisis, Advanced Financial Risk Management outlines a framework for fully integrated risk management. Credit risk, market risk, asset and liability management, and performance measurement have historically been thought of as separate disciplines, but recent developments in financial theory and computer science now allow these views of risk to be analyzed on a more integrated basis. The book presents a performance measurement approach that goes far beyond traditional capital allocation techniques to measure risk-adjusted shareholder value creation, and supplements this strategic view of integrated risk with step-by-step tools and techniques for constructing a risk management system that achieves these objectives. Practical tools for managing risk in the financial world Updated to include the most recent events that have influenced risk management Topics covered include the basics of present value, forward rates, and interest rate compounding; American vs. European fixed income options; default probability models; prepayment models; mortality models; and alternatives to the Vasicek model Comprehensive and in-depth, Advanced Financial Risk Management is an essential resource for anyone working in the financial field.
GARP's Fundamentals of Energy Risk Management introduces investors to the basic components and some of the basic terminology used in the energy industry. It covers the commodity cycle, energy use and sources, and various risk types, various energy products and the markets where energy is traded. It also introduces certain risk management fundamentals and real option thinking. The book is GARP's required text used by risk professionals looking to obtain their Certificate in Energy Risk Management.
Solid Wastes Management begins with a focus on processing municipal and similar commercial, as well as industrial wastes; assessing and minimising the environmental impacts of processing and disposal. The second section reviews the treatment technologies available (physical, biological and thermal), their advantages, disadvantages and environmental performance. The third section considers the environmental and health impacts of the technologies and reviews the use of models to predict landfill leachate, gas formation and pollution dispersion. The fourth section is on the human health impact of waste management and draws on the previous sections, bringing in pollutants such as bioaerosols and ultra-fine particulate material. In the fifth and sixth sections, the importance of adopting an integrated approach to waste management is demonstrated through consideration of life cycle assessment and its use to determine optimum waste management solutions. Discover our e-book series on Environmental Monitoring and Protection, published in partnership with The Open University! Find out more about the series editors, the titles in the series and their focus on water, noise, air and waste, and The Open University courses in Environmental Management. Visit www.wiley.com/go/ouebookseries
Approaches to avoid loss of life and limit disruption and damage from flooding have changed significantly in recent years. Worldwide, there has been a move from a strategy of flood defence to one of flood risk management. Flood risk management includes flood prevention using hard defences, where appropriate, but also requires that society learns to live with floods and that stakeholders living in flood prone areas develop coping strategies to increase their resilience to flood impacts when these occur. This change in approach represents a paradigm shift which stems from the realisation that continuing to strengthen and extend conventional flood defences is unsustainable economically, environmentally, and in terms of social equity. Flood risk management recognises that a sustainable approach must rest on integrated measures that reduce not only the probability of flooding, but also the consequences. This is essential as increases in the probability of inundation are inevitable in many areas of the world due to climate change, while socio-economic development will lead to spiralling increases in the consequences of flooding unless land use in floodplains is carefully planned. Flood Risk Science and Management provides an extensive and comprehensive synthesis of current research in flood management; providing a multi-disciplinary reference text covering a wide range of flood management topics. Its targeted readership is the international research community (from research students through to senior staff) and flood management professionals, such as engineers, planners, government officials and those with flood management responsibility in the public sector. By using the concept of case study chapters, international coverage is given to the topic, ensuring a world-wide relevance.
An authoritative textbook on construction management offering a clear model for understanding theoretical aspects. The construction industry has become a truly global network of interconnected stakeholders making demands which require the involvement of skilled workforces from all over the world. Construction Management Strategies sets the foundations for understanding and managing construction’s inherent complexity and uniqueness. It establishes clear definitions of commonly accepted terms like built environment, construction, civil engineering, etc. which are often given confusing and conflicting interpretations. It cuts through the plethora of overlapping role titles currently used in the construction sector that make it difficult to establish how projects are actually managed. Construction Management Strategies: Offers a robust and consistent theoretical basis to explain the performance of the main approaches to construction management. Describes corporate and project management in construction as an integrated whole. Provides the basic toolkit a student needs to think through the practical situations they will later face. Helps bring the theory of construction management to international students who struggle to find a solid grounding in this complex and fragmented subject. Includes a companion website featuring a wealth of directly transferable examples for students, as well as PPT slides and topic discussion ideas for lecturers.
To reduce transfusion-related morbidity and mortality, it is recommended that an integrated approach to blood management is employed using all available tools to reduce a patient's exposure to donor blood. Meeting the need for a book covering the concepts of blood management as a trend towards multidisciplinary blood management, this new edition is an important resource, providing healthcare professionals with a tool to develop background knowledge in blood management, its organization, methods and tools. Practicing clinicians will be fully prepared to successfully start and run blood management programs.
A comprehensive treatment on the use of quantitative modeling for decision making and best practices in the service industries Making up a significant part of the world economy, the service sector is a rapidly evolving field that is relied on to dictate the public's satisfaction and success in various areas of everyday life, from banking and communications to education and healthcare. Service Science provides managers and students of the service industries with the quantitative skills necessary to model key decisions and performance metrics associated with services, including the management of resources, distribution of goods and services to customers, and the analysis and design of queueing systems. The book begins with a brief introduction to the service sector followed by an introduction to optimization and queueing modeling, providing the methodological background needed to analyze service systems. Subsequent chapters present specific topics within service operations management, including: Location modeling and districting Resource allocation problems Short- and long-term workforce management Priority services, call center design, and customer scheduling Inventory modeling Vehicle routing The author's own specialized software packages for location modeling, network optimization, and time-dependent queueing are utilized throughout the book, showing readers how to solve a variety of problems associated with service industries. These programs are freely available on the book's related web site along with detailed appendices and online spreadsheets that accompany the book's «How to Do It in Excel» sections, allowing readers to work hands-on with the presented techniques. Extensively class-tested to ensure a comprehensive presentation, Service Science is an excellent book for industrial engineering and management courses on service operations at the upper-undergraduate and graduate levels. The book also serves as a reference for researchers in the fields of business, management science, operations research, engineering, and economics. This book was named the 2010 Joint Publishers Book of the Year by the Institute of Industrial Engineers.