A formalised approach to the management of risk

Brownsword, Michael James 2009. A formalised approach to the management of risk. PhD Thesis, Cardiff University.

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Abstract

Taking a pragmatic, systems engineering approach, this thesis identifies a number of fundamental issues that presently arise in risk management, primarily as a result of the overly complex and somewhat outdated approach conventionally taken in process definition and a lack of coherence within the current risk management vocabulary. It is suggested that many recent developments in systems engineering have largely been ignored by the risk management community. The objective of this work is to develop a formalised approach to the management of risk using a model based approach this will enable a fundamental simplification of the risk management process, resulting - amongst other things - in an improved understanding of the associated terminology. An object oriented modelling approach, now widely exploited in systems engineering, has been used to provide an insight into many existing risk management standards considering the approaches they present and terminology used. It has also been used to derive both a set of processes for risk management and a methodology for implementation. Alongside this, a consistent, inter-related terminology as been proposed for use with these processes. The outcome of this work is a formalised but pragmatic approach to risk management including the definition of processes, ontology for risk management and a pragmatic methodology for the application of the processes. This approach has been validated in a number of case studies of varying depth and breadth, covering health & safety, business, project and individual needs, showing that the proposed processes and terminology can be used effectively in different organisations and industries.

Item Type:	Thesis (PhD)
Status:	Unpublished
Schools:	Engineering
Subjects:	T Technology > TA Engineering (General). Civil engineering (General)
ISBN:	9781303214622
Date of First Compliant Deposit:	30 March 2016
Last Modified:	31 Jan 2020 06:46
URI:	https://orca.cardiff.ac.uk/id/eprint/54845

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