Development and Introduction of the Risk-Sentience Auxiliary Framework (RSAF) as an Enabler to the ISO 31000 and ISO 31010 for High-Risk Environments

Abstract

Abstract:The aim of this study was to develop, implement, and evaluate a new auxiliary enterprise risk management framework and process to serve as an enabler to the global ISO 31000 risk framework and ISO 31010 processes. This framework has been designed particularly for use within high-risk environments and those characterized by volatility, uncertainty, complexity, and ambiguity (VUCA). This paper proposes a methodology for optimization of structured sharing and grass-roots management of all available risk-sentience information with the assessed potential to develop into an identifiable risk in the future. The author introduces new risk terminology including risk-sentience, risk-sentience information, and risk-sentience management. The process involved the development of the Theory of Risk-Sentience (ToRS), Risk-Sentience Auxiliary Framework (RSAF) and a risk-sentience management process referred to as LUOMEAR (Learning from Uncertainties, Others Mistakes, Experiences and Anecdotal Reporting). Manchester Patient Safety Framework (MaPSaF), SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, and a newly developed Risk-Sentience Fertility Checklist were used to conduct pre and post-trial evaluations. The findings include positive adjustments in safety culture, components of commitment to quality, communication and team-working around safety issues, access to evolving risk-information, and efficient sharing and management of recorded risk-information. Recommendations are made for more extensive application of both the proposed auxiliary risk framework and process within high-risk sectors to further explore its effectiveness and scope.

Mapping the landscape: a bibliometric analysis of ISO 31000

“…, 2016). Various studies employed strategic analysis approaches such as Political, Economic, Social, Technological, Legal and Environmental (PESTLE) and Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis (Selvaseelan, 2018). The diverse methodologies highlight the multidimensional nature of studying ISO 31000 and its real-world application.…”

“…Other research, for instance, employed multi-criteria decision-making (MCDM) analysis: ANP (Profita and Ramadhiana, 2018), AHP (Dias et al, 2021) and fuzzy expert system (Prieto Ib añez et al, 2016). Various studies employed strategic analysis approaches such as Political, Economic, Social, Technological, Legal and Environmental (PESTLE) and Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis (Selvaseelan, 2018). The diverse methodologies highlight the multidimensional nature of studying ISO 31000 and its realworld application.…”

Análisis bibliométrico y de contenido sobre VUCA

“…Alrededor del 57% de los trabajos estudian técnicas en el aprendizaje para reforzar la adaptación al cambio y la gestión emocional como , 2018). Los demás trabajos consideran que el aprendizaje de los factores del entorno, como la relación de las partes interesadas internas y externas, es un factor determinante que puede mitigar los riesgos (Dolot, 2020;Selvaseelan, 2018;Villajos y otros, 2019). Un subgrupo predominante con K-Means comprendía el 42% de los trabajos, cuyo tema central era el aprendizaje de los alumnos.…”

The use ISO 31000:2018 in Indonesian Fintech Lending Companies: What Can We Learn?

“…The study's findings proved that ISO 31000:2018 brings some positive impacts for the company. Implementing ISO 31000:2018 can help the company reach its goal (Asmarawati & Pangeran, 2021;Selvaseelan, 2018). ISO 31000:2018 also has been proven by previous studies to be crucial in making a decision (Blokland & Reniers, 2021; Buganova et al, 2021).…”