Risk Management Dissertation Example | Topics and Well Written Essays - 15000 words

Risk Management - Dissertation Example ...3 2. Review of Related Literature 2.1. Risk Management.........................................................................................................6 2.2. Frameworks in Strategic Risk Management...............................................................11 2.3. Managing Risk through Quality Management............................................................15 2.4. Enterprise Risk Management......................................................................................26 3. Research Methodology 3.1. Procurement Risk Management Framework..............................................................31 3.2. Preview of Procurement Risk Management Experiences...........................................35 4. Results and Discussion 4.1. BraiNet Survey...........................................................................................................36 4.2. Risk Management in Defence Procurement...............................................................41 4.3. Procurement Management in Beef Supply Chains.....................................................43 4.4. Risk Management Experiences by other Firms..........................................................44 5. Conclusion and Recommendation 5.1. Lessons Learned..........................................................................................................47 5.2. ... The global recession has become a focal point when companies start to outline strategies and develop business models. The most important aspect that companies discuss involves risks. These can come in various forms and could affect companies in all fronts. Despite threats coming risks, several companies have been lagging in terms of developing sound risk management strategies. Most risk management plans are conceived as alternatives instead of being main strategies. Some companies even thrive in risky environments and prefer existing where risks prosper. Despite these differing situations, there is no doubt that risk management has come to evolve as a major determinant in business success. The most important point relates to risk management integrated in business models. 1.1. Objectives of the Study The primary goal of the paper is to establish the extent in which risk management is ingrained in business models developed by companies. This is in reference to the Procurement Risk Mana gement (PRM) used at Hewlett-Packard. The process involves analysis of case studies and empirical evidence related to the study. The paper will also tackle various aspects of risk management strategies used in different industries including the services and public sectors. The study specifically will analyse the different procurement risks are identified by Miller and Lessard (2008), Keizer, Halman and Song (2002), Zsidisin and Smith (2005) and Cox, Chicksand and Ireland (2005). There are risks identified in reference to previous studies involving procurement risk management. The summary of each study will be discussed in the succeeding parts of this section. 1.2. Background of the Study

Electronic positioning system (marine navigational radar) Essay

Electronic positioning system (marine navigational radar) - Essay Example This effect can be observed when a person shouts in a valley. The sound waves travel to the nearby mountains and get reflected. The person thus hears back his own voice. The time taken by the sound waves to return back depends upon the distance between the persons and the mountains. The similar concept is applied in RADAR. Here radio waves are emitted by the RADAR which travel in all directions. If an object comes in the way of these waves they get reflected back with the speed of light and detected by the RADAR. By knowing the time elapsed between sending and receiving back the waves, the position of the object can be determined by calculating the distance the wave has travelled. Now in order to calculate the speed of an object the concept of Doppler shift plays its role. When a wave is reflected by a moving object its nature depends upon the movement of that object. If the object is moving towards the source of the wave, then the pitch of the wave will be higher than if it is moving away from it. This can be observed in case of a car blowing its horn. When a moving car approaches a person the horn seems to be louder and when it moves away it become s somewhat fainter. Knowing the pitch of the sound wave the speed of the car can be detected. This principle is applied in case of RADAR where a radio wave is used instead of a sound wave. The pitch of the reflected radio wave determines the speed and the direction of motion of the object. Combining the Echo and Doppler Shift, we can exactly determine the position, speed and direction of motion of an object in the sea with the help of a Navigational RADAR. Components of Marine Navigational RADAR There are five main components of a Marine Navigational RADAR. Transmitter Modulator Antenna Receiver Indicator 1. Transmitter A transmitter is a device which transmits radio waves into the air. These waves are generated inside the RADAR. 2. Modulator It allows waves to be omitted as pulses (Integrated Publishing, n.d.). 3. Antenna An antenna is used to give direction to the radio waves being transmitted. These waves are sent as 'beams'. The antenna is always in rotating condition so that the whole of the area is covered. 4. Receiver It receives back the reflected waves from the objects and converts the information into usable data (Integrated Publishing, n.d.). 5. Indicator It is a device on which the received information is plotted. It shows the position of the object in the form of a mark on a screen. The standard indicator that is used mainly is known as Plan Position Indicator (PPI). It