"For industrial explosion protection, residual risk analysis determines the likelihood that a given protection scheme will fail to mitigate an explosion occurrence, where one or more points of a system are subject to failure. Current design practice for providing explosion protection measures for industrial hazards follows a process where, although the designer satisfies accepted industry codes and standards, the result is a system where the risk of failure remains unknown. This thesis proposes and demonstrates the use of a methodology to assist design engineers in constructing an explosion protection system that meets a specified quantifiable level of risk. This new methodology can assist building owners and decision makers in selecting a design that best meets their risk-based goals and objectives."

Hedging a contingent claim with an asset which is not perfectly correlated with the underlying asset results in an imperfect hedge. The residual risk from hedging with a correlated asset is priced using an actuarial standard deviation principle in infinitesmal time, which gives rise to a nonlinear partial differential equation (PDE). A fully implicit, monotone discretization method is developed for solving the pricing PDE. This method is shown to converge to the viscosity solution. Certain grid conditions are required to guarantee monotonicity. An algorithm is derived which, given an initial grid, inserts a finite number of nodes in the grid to ensure that the monotonicity condition is satisfied. At each timestep, the nonlinear discretized algebraic equations are solved using an iterative algorithm, which is shown to be globally convergent. Monte Carlo hedging examples are given, which show the standard deviation of the profit and loss at the expiry of the option.

The continuous desire to improve health and safety in UK construction has in recent years been challenged to adopt offsite strategies in order to address the poor health and safety record of construction. Despite the benefits of using offsite there has been little research on the actual benefits and disadvantages of the effect of offsite on occupational health and safety. This is important given that the UK government has promoted the use of offsite to improve health and safety performance. This thesis provides a strategy for the management of offsite risk and a risk management tool has been developed. The study investigated offsite manufacturers views on offsite activities and risks in comparison with insitu activities and risks. This was achieved through three phases: phase I comprised two expert group interviews, phase II involved ergonomic audits and phase III consisted of three semi-structured interviews with three offsite manufacturers. The thesis identified that there are significant health and safety benefits of offsite. The benefits relate to specific activities within the offsite categories and context studied. Examples include the elimination of work at height, reduction in noise, reduction in work in confined space, reduction in congested work with trade overlap and greater control over work in the factory. The research revealed that there are still potential health and safety risks with offsite. Examples include; transportation and delivery of units of large size and weight with associated high consequence craneage and handling risks (unit fall and hand injury), whole body vibration, cuts, MSDs, RSIs, fumes and slips trips and falls. There appears to be little in the literature to support the identification of offsite risk issues. The study identified strategies to eliminate and reduce offsite residual risks. The case study investigated solutions to further reduce residual risks, which were further explored in phase III the semi-structured interviews. The solutions are grouped into four approaches: process change, workplace environment designing out risks, automation and the use of tools. An offsite risk management tool was developed which transfers knowledge from the study to provide awareness and management of offsite risk. The thesis provides a contribution to knowledge by providing a better understanding of offsite risks, offsite residual risks and strategies used to reduce residual risks.

Personalised medicine is replacing the one-drug-fits-all approach with many prognostic models incorporating biomarkers available for risk stratifying patients. Evidence has been emerging that the effects of biomarkers change over time and therefore violate the assumption of proportional hazards when performing Cox regression. Analysis using the Cox model when the assumptions are invalid can result in misleading conclusions. This thesis reviews existing approaches for the analysis of non-proportional effects with respect to survival data. A number of well-developed approaches were identified but to date their uptake in practice has been limited. There is a need for more widespread use of flexible modelling to move away from standard analysis using a Cox model when the assumption of proportional hazards is violated. Two novel approaches were applied to investigate the impact of follow-up duration on two residual risk models, IHC4 and Mammostrat, for predicting risk in early breast cancers using two studies with different lengths of follow up; the Edinburgh Breast Conservation Series (BCS) and the Tamoxifen versus Exemestane Adjuvant Multinational (TEAM) trial. Similar results were observed between the two approaches that were considered, the multivariable fractional polynomial time (MFPT) approach and Royston-Parmer flexible parametric models, with their respective advantages and disadvantages being discussed. The analyses identified a strong time-varying effect of IHC4 score with the prognostic effect of IHC4 score on time-to distant recurrence decreasing with increasing follow-up time. Mammostrat score identified a group of patients with an increased risk of distant recurrence over full follow-up in the TEAM and Edinburgh BCS cohorts. The results suggest a combined IHC4 and Mammostrat risk score could provide information on the risk of recurrence and warrants further study.

Hedging a contingent claim with an asset which is not perfectly correlated with the underlying asset results in an imperfect hedge. The residual risk from hedging with a correlated asset is priced using an actuarial standard deviation principle in infinitesmal time, which gives rise to a nonlinear partial differential equation (PDE). A fully implicit, monotone discretization method is developed for solving the pricing PDE. This method is shown to converge to the viscosity solution. Certain grid conditions are required to guarantee monotonicity. An algorithm is derived which, given an initial grid, inserts a finite number of nodes in the grid to ensure that the monotonicity condition is satisfied. At each timestep, the nonlinear discretized algebraic equations are solved using an iterative algorithm, which is shown to be globally convergent. Monte Carlo hedging examples are given, which show the standard deviation of the profit and loss at the expiry of the option.

The aim of this master's thesis is to present risk management and methods used in risk management. The thesis is based on the ATOM methodology, which was developed for practical risk management. The thesis is focused on methods of the visualization that should present risks at IT projects with an intuitive and understandable form. It also concerns with different options of the visualization and their use at risk management. The visualization could be like a table, a graph, or another form. The thesis also contains requirements specification for risk visualization application created due to found information. The design and implementation of the project management risk visualization application is based on requirements specification. The benefits of the thesis and possible extensions are proposed at the end.

This thesis deals with the matter of risk managament in IT projects. It explains the importance of risk management in such projects and shows different ways and methods of managing and analyzing the risks. After explaining the basic concepts and the various phases of risk management the text focuses on two methods of risk analysis - the fault tree analysis of event tree analysis. Use of both methods is explained for both quantitative and qualitative analyses. The second half of the work includes the design of an application for the support of risk analysis employing the methods of fault tree analysis and event tree analysis. This is followed by a description of the implementation of the proposed system in a web environment using jQuery, Nette Framework and Dibi.

The aim of the thesis is to analyse issues of risk management in a construction company, especially in the context of construction contracts implementation. The first part is devoted to applied terminology and interpretation of relevant terms, followed by a classification of risks from different perspectives, including the risks’ possible further sub classification. Furthermore, significant risk resources and construction participants who might be affected by the risks are presented. The third chapter deals with risk management; individual phases of this complex process are described herein, including their correct sequences, as well as a selection of methods and techniques that are standardly used in risk management. The last, fourth chapter summarises the problems of risk management on a practical example, where a construction company implements a construction contract by applying selected risk management methodologies.