Please use this identifier to cite or link to this item: http://hdl.handle.net/10995/75288
Title: A methodological framework for organizational risk management in energy companies
Authors: Gitelman, L. D.
Gitelman, L. M.
Kozhevnikov, M. V.
Issue Date: 2017
Publisher: WITPress
Citation: Gitelman L. D. A methodological framework for organizational risk management in energy companies / L. D. Gitelman, L. M. Gitelman, M. V. Kozhevnikov // International Journal of Safety and Security Engineering. — 2017. — Vol. 7. — Iss. 1. — P. 41-51.
Abstract: Energy production has always been associated with a number of operational (technological) risks as well as risks resulting from external events. A large number of tools has emerged recently that utilize complex software solutions to minimize such risks, which shows in a significant reduction of failures at energy facilities in the past few years and a growth in the key performance indicators of energy businesses. The most difficult ones to assess and prevent are organizational risks. The probability of such risks increases alongside the progress of structural transformations in the global energy sector. Such risks, despite their internal nature, are capable of triggering serious deformations within the governance system of an energy company and, given the specific features of the energy sector, lead to a sharp performance drop across the industry. The article presents a methodological framework for operational risk management in energy companies that is based upon the idea of identifying the priority results of companies’ performance. The proposed methodology is essentially about forming the risk space of an energy company and using it as a basis for quantitative assessment of the probability of risk events. This will in turn make it possible to identify critical organizational risks, assess anticipated damage and think of preventive management impact to offset the risk events. © 2017 WIT Press.
Keywords: ENERGY COMPANIES
INNOVATION
ORGANIZATIONAL RISKS
RELIABILITY OF POWER SUPPLIES
SPACE OF RISK
TRANSFORMATION MANAGEMENT
BENCHMARKING
INNOVATION
RISK ASSESSMENT
RISK MANAGEMENT
ENERGY COMPANIES
KEY PERFORMANCE INDICATORS
METHODOLOGICAL FRAMEWORKS
OPERATIONAL RISK MANAGEMENTS
QUANTITATIVE ASSESSMENTS
RELIABILITY OF POWER SUPPLY
STRUCTURAL TRANSFORMATION
TRANSFORMATION MANAGEMENTS
RISKS
ELECTRICITY INDUSTRY
GOVERNANCE APPROACH
INNOVATION
MANAGEMENT PRACTICE
METHODOLOGY
RISK ASSESSMENT
SOFTWARE
URI: http://hdl.handle.net/10995/75288
metadata.dc.rights: info:eu-repo/semantics/openAccess
SCOPUS ID: 85037525486
PURE ID: 6209002
ISSN: 2041-9031
DOI: 10.2495/SAFE-V7-N1-41-51
metadata.dc.description.sponsorship: ACKNOWLEDGEMENT The work was supported by Act 211 Government of the Russian Federation, contract No 02. A03.21.0006.
Appears in Collections:Научные публикации, проиндексированные в SCOPUS и WoS CC

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