Insuring Project Risks: Contractor Expectations versus Insurance Company Policies

This article expands on the problem of oil and fat industry waste recycling via biogas plants. Authors assess the risk level of the proposed solution implementation, taking into account externalities of the industry in the Rostov Region of the Russian Federation submitted by the stability of centralized power supply, local personnel qualification, climatic peculiarities, and industry state finance support of the region. To achieve the study objective, the following methods were used: qualitative PESTEL-analysis (identified the external factors) and quantitative Fuzzy logic (assessed risk level. The result of this study shows that the risk level is predominantly below average, reflecting the preparedness of the external environment in the region. The uniqueness of the study is represented by a proposed model to assess the external environment risk level via fuzzy logic that also contributes to more qualitative subsequent studies.

Section: 667-1mentioning

confidence: 99%

Risks Analysis of the Implementation of Sustainable Solution for the Oil and Fat Industry Waste Recycling

Gutman,

Nochevkina,

Brazovskaia

2023

“…In terms of risk, zakat and wakaf house development, like any other housing development, is subject to a number of dangers, including natural catastrophes, fire, theft, and destruction (Hatmoko et al, 2021). If risks are adequately identified and analyzed, they will aid in the management and elimination of damages and losses if they arise.…”

Section: Zakat and Wakaf Housing Projectsmentioning

confidence: 99%

Identification of Risks Exposed to The Development of Zakat and Wakaf Housing in Malaysia

Fauzi¹,

Jahidi²

2022

Risk management is a constant effort that must be carried out throughout the life of a project. For construction and property development projects, the administration of each risk management stage is important due to the nature of the work involved. Specifically, in deliberating the collaboration between zakat and wakaf resources in the provision of low-cost housing or its equivalent for the asnaf and poor, it is crucial to identify the risks involved and the best way to manage them. Otherwise, the authorities' support, for instance, housing-related assistance, for instance, building new and repairing houses, could not be wisely utilized and maintained should any catastrophes occur. In the event of a calamity, the recipients will lose their houses. Especially for the asnaf and needy, given that they are already poor, their standard of living will deteriorate. The identification of risks exposed to housing development has been addressed in current literature, but little research has specifically identified the vulnerabilities associated with zakat and wakaf housing development. This study is conducted in an attempt to identify risks exposed to the development of zakat and wakaf housing in Malaysia via content analysis of relevant documents and a series of interviews with related stakeholders. The study's findings indicate that there are 94 risks identified, where most of the risks are inherent risks associated with the development of the property. The finding also suggests that Shariah-compliant risks, such as the requirements of mua'malat, and principles of zakat and wakaf, are included among the identified risks associated with the development of zakat and wakaf housing. The outcome of the study is significant in providing information to relevant authorities and related organizations in identifying risks accordingly and becoming the basis for the development of a comprehensive risk management framework for zakat and wakaf housing development in Malaysia.

“…Likewise, a market risk mitigation strategy using the FUZZY FMEA method has been carried out by Rahmatin et al (2018) in food companies by increasing promotion strategies, promotion strategies are used as mitigation aspects. Risk for contractor expectations versus insurance company policies by Hatmoko, Astuti, and Farania (2021), which causes the head office to lose insurance claim benefits. Probabilistic Risk Assessment of COVID-19 Patients by Ting, Zakariah, and Yusri (2022) using the Logistic Regression instrument.…”

Section: Introductionmentioning

confidence: 99%

Engine Room Module Installation System Risk Analysis Based on Bayesian Network

Baroroh,

Ma’ruf,

Basuki

et al. 2024

Implementation of system installation risk on engine room module aims to anticipate ship production delays. However, in its implementation, there is the problem of ship delivery delays in various shipbuilding companies. This research will analyze the risk analysis of the installation of the engine room module system by identifying risk factors and parameters that affect performance as a hazard identification that has the potential to cause delivery delays. The object of the research is the Indonesian Navy's Auxiliary Hospital Ship, which has 6 zones with a pilot project developed in zone 2. This includes an engine room that contains important constructions in the form of a main motor foundation, auxiliary motor, and other machinery, where the system was integrated. Moreover, there are some works consisting of construction, outfitting, and commissioning which are very complicated and require high accuracy. The aim of the implementation of risk analysis of the installation system in the engine room's module is to assess potential risks, the effect of risk on project delays, and project cost overruns. The research method uses a Bayesian network because it is able to assess the most potential risks and predict the possibility of delays at network nodes. The primary risk is associated with electrical activities, specifically electrical outfitting on wiring, clamping, and compound sub-components with a probability of (0.0002560) in the Machinery Outfitting and Electrical Department. This risk stems from inappropriate steps during drawing revisions, which have the potential to cause delays in equipment installation, cable material procurement, and the generation of cable cutting data. Therefore, early coordination with production planning control, design, and the supply chain is crucial.