Research, practices, and innovations in global risk and contingency management

Research, Practices, and
Innovations in Global
Risk and Contingency
Management
Kenneth David Strang
State University of New York, USA & APPC Research, Australia
Maximiliano E. Korstanje
University of Palermo, Argentina
Narasimha Vajjhala
American University of Nigeria, Nigeria

A volume in the Advances in Business Information
Systems and Analytics (ABISA) Book Series


Published in the United States of America by
IGI Global
Business Science Reference (an imprint of IGI Global)
701 E. Chocolate Avenue
Hershey PA, USA 17033
Tel: 717-533-8845
Fax: 717-533-8661
E-mail:
Web site:
Copyright © 2018 by IGI Global. All rights reserved. No part of this publication may be reproduced, stored or distributed in
any form or by any means, electronic or mechanical, including photocopying, without written permission from the publisher.
Product or company names used in this set are for identification purposes only. Inclusion of the names of the products or
companies does not indicate a claim of ownership by IGI Global of the trademark or registered trademark.

Library of Congress Cataloging-in-Publication Data

Names: Strang, Kenneth David, 1962- editor. | Korstanje, Maximiliano, editor.
| Vajjhala, Narasimha, 1978- editor.
Title: Research, practices, and innovations in global risk and contingency
management / Kenneth David Strang, Maximiliano E. Korstanje, and Narasimha
Vajjhala, editors.
Description: Hershey : Business Science Reference, [2018]
Identifiers: LCCN 2017032921| ISBN 9781522547549 (hardcover) | ISBN
9781522547556 (ebook)
Subjects: LCSH: Risk management.
Classification: LCC HD61 .R47 2018 | DDC 658.15/5--dc23 LC record available at />This book is published in the IGI Global book series Advances in Business Information Systems and Analytics (ABISA)
(ISSN: 2327-3275; eISSN: 2327-3283)

British Cataloguing in Publication Data
A Cataloguing in Publication record for this book is available from the British Library.
All work contributed to this book is new, previously-unpublished material. The views expressed in this book are those of the
authors, but not necessarily of the publisher.
For electronic access to this publication, please contact: 


Advances in Business
Information Systems and
Analytics (ABISA) Book Series
Madjid Tavana
La Salle University, USA

ISSN:2327-3275
EISSN:2327-3283
Mission

The successful development and management of information systems and business analytics is crucial

to the success of an organization. New technological developments and methods for data analysis have
allowed organizations to not only improve their processes and allow for greater productivity, but have
also provided businesses with a venue through which to cut costs, plan for the future, and maintain
competitive advantage in the information age.
The Advances in Business Information Systems and Analytics (ABISA) Book Series aims to present
diverse and timely research in the development, deployment, and management of business information
systems and business analytics for continued organizational development and improved business value.

Coverage
• Business Information Security
• Data Strategy
• Business Systems Engineering
• Business Process Management
• Strategic Information Systems
• Geo-BIS
• Business Decision Making
• Decision Support Systems
• Performance Metrics
• Information Logistics

IGI Global is currently accepting manuscripts
for publication within this series. To submit a proposal for a volume in this series, please contact our
Acquisition Editors at
or visit: />
The Advances in Business Information Systems and Analytics (ABISA) Book Series (ISSN 2327-3275) is published by IGI Global, 701
E. Chocolate Avenue, Hershey, PA 17033-1240, USA, www.igi-global.com. This series is composed of titles available for purchase individually; each title is edited to be contextually exclusive from any other title within the series. For pricing and ordering information please visit
Postmaster: Send all address changes to above
address. Copyright © 2018 IGI Global. All rights, including translation in other languages reserved by the publisher. No part of this series
may be reproduced or used in any form or by any means – graphics, electronic, or mechanical, including photocopying, recording, taping,
or information and retrieval systems – without written permission from the publisher, except for non commercial, educational use, including

classroom teaching purposes. The views expressed in this series are those of the authors, but not necessarily of IGI Global.


Titles in this Series

For a list of additional titles in this series, please visit: www.igi-global.com/book-series

Cloud Computing Technologies for Green Enterprises
Kashif Munir (University of Hafr Al-Batin, Saudi Arabia)
Business Science Reference • copyright 2018 • 424pp • H/C (ISBN: 9781522530381) • US $215.00 (our price)
Smart Technology Applications in Business Environments
Tomayess Issa (Curtin University, Australia) Piet Kommers (University of Twente, The Netherlands) Theodora Issa
(Curtin University, Australia) Pedro Isaías (Portuguese Open University, Portugal) and Touma B. Issa (Murdoch
University, Australia)
Business Science Reference • copyright 2017 • 429pp • H/C (ISBN: 9781522524922) • US $210.00 (our price)
Advanced Fashion Technology and Operations Management
Alessandra Vecchi (London College of Fashion, University of London Arts, UK)
Business Science Reference • copyright 2017 • 443pp • H/C (ISBN: 9781522518655) • US $200.00 (our price)
Maximizing Business Performance and Efficiency Through Intelligent Systems
Om Prakash Rishi (University of Kota, India) and Anukrati Sharma (University of Kota, India)
Business Science Reference • copyright 2017 • 269pp • H/C (ISBN: 9781522522348) • US $175.00 (our price)
Maximizing Information System Availability Through Bayesian Belief Network Approaches Emerging Research
and Opportunities
Semir Ibrahimović (Bosna Bank International, Bosnia and Herzegovina) Lejla Turulja (University of Sarajevo,
Bosnia and Herzegovina) and Nijaz Bajgorić (University of Sarajevo, Bosnia and Herzegovina)
Information Science Reference • copyright 2017 • 180pp • H/C (ISBN: 9781522522683) • US $140.00 (our price)
Handbook of Research on Advanced Data Mining Techniques and Applications for Business Intelligence
Shrawan Kumar Trivedi (BML Munjal University, India) Shubhamoy Dey (Indian Institute of Management Indore,
India) Anil Kumar (BML Munjal University, India) and Tapan Kumar Panda (Jindal Global Business School, India)
Business Science Reference • copyright 2017 • 438pp • H/C (ISBN: 9781522520313) • US $260.00 (our price)

Exploring Enterprise Service Bus in the Service-Oriented Architecture Paradigm
Robin Singh Bhadoria (Indian Institute of Technology Indore, India) Narendra Chaudhari (Visvesvaraya National
Institute of Technology, Nagpur, India) Geetam Singh Tomar (Machine Intelligence Research (MIR) Labs, India)
and Shailendra Singh (National Institute of Technical Teachers’ Training and Research, India)
Business Science Reference • copyright 2017 • 378pp • H/C (ISBN: 9781522521570) • US $200.00 (our price)

701 East Chocolate Avenue, Hershey, PA 17033, USA
Tel: 717-533-8845 x100 • Fax: 717-533-8661
E-Mail: • www.igi-global.com


Table of Contents

Foreword............................................................................................................................................... xv
Preface................................................................................................................................................xxiii
Section 1
Quantitative Approaches to Risk and Uncertainty Models
Chapter 1
Strategic and Tactical Measures in Managing Enterprise Risks: A Study of the Textile and
Apparel Industry...................................................................................................................................... 1
Rita Lai-ying Chan, BNU-HKBU United International College, China
Phyllis Lai-lan Mo, City University of Hong Kong, China
Karen K. L. Moon, Seoul National University, South Korea
Chapter 2
A Comparison of Excess Stock Market Return to Standard Marketing Metrics................................... 20
Vicki Lane, University of Colorado – Denver, USA
Madhavan Parthasarathy, University of Colorado – Denver, USA
Chapter 3
Analyzing Risk Management and Non-Performing Assets in Banks.................................................... 38
Hasnan Baber, Central University of Kashmir, India

Chapter 4
How Social Culture Impacts Young Executive Decision Making in a Context of Uncertainty............ 55
Kenneth David Strang, State University of New York at Plattsburgh, USA
Narasimha Rao Vajjhala, American University of Nigeria, Nigeria
Chapter 5
Risk Inherent in Matching Unreliability With Uncertainty................................................................... 73
Roy L. Nersesian, Monmouth University, USA
Joe McManus, Monmouth University, USA






Section 2
Qualitative, Historical, and Philosophical Risk Perspectives
Chapter 6
Astronomical Roots of Risk Management Measures............................................................................. 99
Colin Read, State University of New York at Plattsburgh, USA
Chapter 7
Socio-Political Risk-Contingency-Management Framework for Practitioners and Researchers......... 116
Kenneth David Strang, State University of New York at Plattsburgh, USA
Chapter 8
Impact of Risk Assessment Models on Risk Factors: A Holistic Outlook.......................................... 134
K. Madhu Kishore Raghunath, National Institute of Technology, India
S. L. Tulasi Devi, National Institute of Technology, India
Chandra Sekhar Patro, Gayatri Vidya Parishad College of Engineering, India
Chapter 9
Beyond the Precautionary Principle: Is Terrorism a Real Risk?......................................................... 154
Maximiliano E. Korstanje, University of Palermo, Argentina

Chapter 10
W. Edwards Deming as a Guide for Reducing Risk in Project Management...................................... 174
Dennis Bialaszewski, Indiana State University, USA
Section 3
Strategic Management and Contingency Planning Practices
Chapter 11
Comprehensive Risk Abatement: A Paradigm Shift............................................................................ 187
Bruce D. McLaughlin, Lifetime Reliability Solutions, USA
Chapter 12
Burst Pipes and Leaky Roofs: Small Emergencies Are a Challenge for Libraries.............................. 211
Gerald Chaudron, University of Memphis Libraries, USA
Chapter 13
Perils of Lending Rare Book and Archival Materials for Exhibition: Identifying Threats and
Evaluating Exposures........................................................................................................................... 232
Patti Gibbons, University of Chicago Library, USA
Chapter 14
Risk Management Strategies for Project Success................................................................................ 250
Vittal Anantatmula, Western Carolina University, USA
Yang Fan, Western Carolina University, USA




Section 4
Industry Applications and Mixed Method Studies
Chapter 15
Complex Interdependency of IT Security Risk in B2B Supply Chain................................................ 269
Tridib Bandyopadhyay, Kennesaw State University, USA
Chapter 16
Modelling the Enablers of Supply Risk Management Using Interpretive Structural Methodology.... 286

Kunal Ganguly, IIM Kashipur, India
Debabrata Das, IIM Kashipur, India
Chapter 17
Emergent Issues in the World War Against Global Terrorism............................................................. 305
Kenneth David Strang, State University of New York at Plattsburgh, USA
Chapter 18
Practical Use and Effects of Scope Reductions in the Form of Reduction Lists: Cost Control at the
Price of Sustainability?...........................................................................n analysis of supply risk assessment techniques.
International Journal of Physical Distribution & Logistics Management, 34(3), 397–409. doi:10.1108/09600030410545445
Zsidisin, G. A., Panelli, A., & Upton, R. (2000). Purchasing organization involvement in risk assessments, contingency plans,
and risk management: An exploratory study. Supply Chain Management, 5(4), 187–198. doi:10.1108/13598540010347307
Zsidisin, G., & Ellram, L. (1999). Supply risk assessment analysis. Practix, 2(4), 9–12.

409


410

About the Contributors

Kenneth Strang has a Doctorate in Project Management (business research, high distinction), an
MBA (honors), a BS (honors), as well as a Business Technology diploma (honors). He is a certified
Project Management Professional® from Project Management Institute, and is a Fellow of the Life
Management Institute (distinction, specialized in actuary statistics and pension systems), from Life
Office Management Association. Ken has over 120 publications including several books. His research
interests include: Leadership, multicultural elearning, marketing new product development, knowledge
management, ebusiness project management and risk management. He designs and teaches multidisciplinary subjects in business and information technology, in class and online (distance education), at
an accredited university. He also supervises Phd and doctorate students. He is associate/area editor on
several journals and he serves as editor-in-chief of the International Journal of Risk and Contingency
Management. He has been CEO/President aof private and non-profit organizations. Currently he is

the CEO of APPC Research and he is a professor in the school of business and economics at the State
University of New York.
Maximiliano E. Korstanje is editor in chief of International Journal of Safety and Security in Tourism (UP Argentina) and International Journal of Cyber Warfare and Terrorism (IGI-GlobalUS). With
more than 700 published papers and 25 books, Korstanje was awarded as Outstanding Reviewer 2012.
International Journal of Disaster Resilience in the Built Environment. University of Salford, UK, Outstanding Reviewer 2013. Journal of Place Management and Development. Institute of Place, Manchester
Metropolitan University, UK and Reviewer Certificate of Acknowledgement 2014. International Journal
of Contemporary Hospitality Management (IJCHM), University of Central Florida, US. Now he co-edits
almost 10 specialized journals in such themes as human rights, mobility, tourism and terrorism. Korstanje
is subject to biographical records for Marquis Who`s Who in the World since 2009. He had nominated
to 5 honorary doctorates for his contribution in the study of the effects of terrorism in tourism. In 2015
he was awarded as Visiting Research Fellow at School of Sociology and Social Policy, University of
Leeds, UK and Visiting Professor at University of La Habana Cuba 2016.
Narasimha Rao Vajjhala is an Assistant Professor at the American University of Nigeria. He holds
a doctorate in management in organizational leadership with specialization in information systems and
technology. He has over 12 years of teaching experience. He is a senior member of Association of Computer Machinery (ACM) and is also a certified project management professional (PMP). His research
interests include: Knowledge management, knowledge sharing in transition economies, cross-cultural
management, technology acceptance, cloud computing and big data.




About the Contributors

***
Vittal Anantatmula is a professor in the College of Business, Western Carolina University and a
campus of University of North Carolina. He is also the Director of Graduate Programs in Project Management and was a recipient of University Scholar Award, and excellence in teaching and research awards.
Dr. Anantatmula is a Global guest professor at Keio University, Yokohama, Japan. He is a director and
board member of the Project Management Institute Global Accreditation Center. He serves on editorial
board of several scholarly journals. In the past, he taught at the George Washington University, worked
in the petroleum and power industries for several years as an electrical engineer and project manager,

and as a consultant in several international organizations including the World Bank. Dr. Anantatmula
has authored more than 60 publications, seven books, and about 50 conference papers. He received his
PhD from The George Washington University and he is a certified project management professional.
Hasnain Baber is currently working as an Assistant Professor in Department of Management Studies,
Central University of Kashmir. Prior to that he was in School of Business Studies, Islamic University of
Science and Technology at the same position. He has done his Post Graduation in Business Management
with majors in Finance. He has another Master’s in Public Administration before that he has completed
his graduation in computer applications. He is also green belt Six sigma certified from KPMG. As an
Assistant Professor at Central University of Kashmir, he has gained valuable experience leading postgraduate discussion sections for both management’s majors and non-majors. In addition to classroom
instruction, He has advised students on appropriate research topics and edited and evaluated their work.
He has also published more than dozens of research papers on diversified subjects of Management but
his research interest is mainly focussed on Islamic Finance. He is well known researcher on subjects like
Islamic Housing Finance, Islamic finance and Global Financial Crisis and so on. He was associated with
Islamic Online University, Gambia as Tutorial Assistant in Islamic Banking and Economics. He has also
Served University of Roehampton as Online Instructor. He is also acting as editorial board member and
reviewer for some reputed publishing houses.
Tridib Bandyopadhyay is an Associate Professor of Information Systems and the Academic Director
of the Masters of Science program at Coles College of Business in Kennesaw State University. He is also
a continuing Faculty Research Associate of The KSU Center for Information Security Education. His
research interests include Information Security and Assurance, Cyber Terrorism, and Cyber Insurance; and
ICT in Development including health issues. His research has been published in peer reviewed journals
like ISF, CACM, ITM, IJICTE, and also in the proceedings of national and international conferences.
He earned his PhD in MIS from The University of Texas at Dallas.
Dennis Bialaszewski received his Ph. D. from SUNY Buffalo. He also completed AACSB programs
in MIS at the University of Minnesota and also Indiana University. He has more than 100 publications.
He received the New York State Chancellor’s Award for Excellence in Teaching, He has received the
Professional Productivity Award from Indiana State University. He was tenured at Mississippi State
University where he taught both at the graduate and undergraduate levels. He served on many doctoral
committees. When he left Mississippi State he joined Indiana State University where he served as the
Chair of the Department of Systems and Decision Sciences department for ten years, While there he

received a grant from NCR/AT&T valued at $110,000 and designed the first computer lab for the Col411


About the Contributors

lege of Business. He was instrumental in Designing the MIS major at Indiana State. He served as the
Co-Editor of the Journal for Education in MIS for 4 years with E.F.Peter Newson of the University of
Western Ontario. He serves as the President of Alpha Iota Mu. He also is active in ASQ and serves as
the President of section 9 which covers Indiana and the majority of Illinois. He served as the President
of the International Academy for Information Management (now SIGED;IAIM) and served the the
Board for several years.He has authored texts in Information Systems. He is serves on many community
organizations and is the founder of the Ryves Community Optimist Club. He has chaired fund raisers
for many community organizations raising as much as $40,000 for the Terre Haute Noon Optimist Club.
Rita Lai-ying Chan is an Assistant Professor in the Division of Business and Management at the
BNU-HKBU United International College, China.
Gerald Chaudron has been head of the Preservation and Special Collections Department of the
University of Memphis Libraries since 2015. Previously he was Manuscripts Librarian at Mississippi
State University Libraries and he also taught in New Zealand, Japan and China. He holds a PhD in History from the University of Canterbury, New Zealand, and a MLIS from Louisiana State University in
Baton Rouge. His research interests include archival description and preservation, and New Zealand’s
role in the League of Nations. He is the author of the book New Zealand in the League of Nations: The
Beginnings of an Independent Foreign Policy, 1919-1939 (2012).
Debabrata Das is an Assistant Professor in the area of Operations Management and Decision Sciences at IIM Kashipur. His research and teaching interest revolve around Supply Chain Modelling and
Optimization, Multi-Objective Optimization, Industrial System Dynamics and Simulation, Closed-loop
Supply Chain Management and Operations-Marketing Interface. He has published his work in reputed
international journals such as International Journal of Production Research, Computers & Industrial
Engineering, Journal of Multi-Criteria Decision Analysis.
S. L. Tulasi Devi currently working as Assistant Professor in School of Management, National Institute
of Technology Warangal, India. She has teaching experience of more than 25 years in the area of Finance.
Her areas of research interest are Corporate Finance, Risk Management, and Financial Econometrics.
Yang Fan is an Associate Professor of Project Management in College of Business, Western Carolina

University (WCU) in Cullowhee, NC. Prior to joining WCU, he worked as a contracting/legal manager
in Sino Saudi Gas Ltd (SSG), an international oil company in the Middle East. He has served over 25
years in planning, business management, and education positions. He is a member of PMI and has PMP
certification.
Kunal K. Ganguly is faculty in the area of Operations Management and Quantitative Techniques
with Indian Institute of Management, Kashipur. He has done his B.Tech in Manufacturing Engineering
from NIFFT, Ranchi, MBM from IIT Kharagpur and PhD from IIT Kharagpur. He has more than six
years of experience in industry in various fields of Operation, Quality Control and Training. For the
past twelve years he is associated with academics. He has worked as faculty with IMT Ghaziabad and
KIIT School of management, Bhubaneswar for nine years. He has got publications in many reputed international journals. His areas of interest are Supply Chain management and Total Quality management.
412


About the Contributors

Patti Gibbons holds a MS degree in Library and Information Science from the University of Illinois
with a certificate in Special Collections Librarianship and holds a MA degree in Museum Studies from
the University of Washington. Currently she is the Head of Collection Management at the University
of Chicago Library’s Special Collections Research Center. Ms. Gibbons has two decades of experience
preserving rare books, manuscripts, and cultural heritage material, overseeing exhibitions, registering
loans, writing disaster management plans, and managing fine art insurance policies in library and museum settings.
K. Madhu Kishore Raghunath is a Research Scholar in School of Management from National Institute of Technology- Warangal. He has a Post-graduate degree in Management with Finance and Marketing specializations from Jawaharlal Nehru Technological University and has over 5years of teaching
experience in higher education along with NET & SET qualification. Mr. Madhu has good knowledge
in Finance and Marketing subjects. His research interests include subjects like Finance, Marketing, Risk
Management, and Supply Chain Management.
Vicki Lane conducts research, consults, and teaches in the areas of brand equity, buyer behavior,
consumer psychology, marketing communication, marketing management, and organizational identity
and identification. She obtained her Ph.D. in Business Administration (major in Marketing, minors in
Social Psychology and Research Methodology) from the University of Washington. Currently, Dr. Lane
is an Associate Professor of Marketing at the University of Colorado at Denver and the Director of Marketing and Sports/Entertainment Disciplines. She has previously served on the faculty at the Norwegian

School of Management in Oslo, Norway and the University of Washington in Seattle, Washington. She
has received numerous grants including support from Boeing Corporation. Dr. Lane’s research has been
published in the Journal of Marketing, Academy of Management Review, Business Horizons, Marketing Letters, Organizational Behavior & Human Decision Processes and abstracted in Harvard Business
Review. She has served as a Reviewer for a number of scholarly journals including the Journal of the
Academy of Marketing Science, Journal of Consumer Research, and the Journal of Marketing.
Bruce McLaughlin is a retired Senior Engineering Associate from a major corporation with accomplishments in materials science R&D and a history of hands-on plant experience. He hold a Doctorate in
Materials Science from MIT, a Master of Materials Engineering from RPI and a Bachelor of Mechanical Engineering from Kettering University. With several patents and publications, he has also written a
chapter in the book entitled Current Topics in Electrochemistry. He is currently serving as President of
Lifetime Reliability Solutions – Comprehensive Risk Abatement.
Professor Joe McManus is an Assistant Professor at Monmouth University in NJ, USA. He also
serves as the Director of Monmouth University’s Center for Entrepreneurship. He previously worked in
risk management as a Senior Vice President at Aon Corporations’ Financial Services Group focusing
on Directors’ and Officers’ liability and specialty insurance solutions tied to M&A activity. Professor
McManus has also published in scholarly journals such as the Journal of Business Ethics.

413


About the Contributors

Phyllis Lai Lan Mo is a Professor in the Department of Accountancy at City University of Hong Kong.
Karen Ka-Leung Moon is currently an Associate Professor at the Department of Textiles, Merchandising, and Fashion Design, Seoul National University, Republic of Korea. Her professional expertise
and research interests include fashion business, supply chain management, implementing innovative
technologies, and consumer behavior.
Roy Nersesian is a graduate of Rensselaer Polytechnic in 1961 with a BS degree in physics Graduate
of Harvard Business School in 1971 with a MBA Worked in various capacities in shipping and energy
Taught shipping and energy modeling at SIPA, Columbia University Last 2 books Energy Risk Modeling published by Palisade Energy and Economics published by Routledge.
Andreas Økland holds a Master of Science degree from the Norwegian University of Science and
Technology and is currently pursuing a PhD within the fields of project management and sustainability.
He is also a research scientist at SINTEF Technology and Society in Trondheim, Norway.

Nils O. E. Olsson is a full professor in project management at the Norwegian University of Science
and Technology (NTNU). He has a PhD from NTNU and a master of science from Chalmers in Sweden.
Recently, his main research focus has been on project users and clients, as well as on project flexibility.
Current research include project owner perspectives on large projects, big data applications in project
management and railway traffic. He has extensive experience as a consultant, research scientist, and
manager. The consulting experience includes Ernst and Young Management Consulting (now EY) and
Det Norske Veritas (now DNV GL). During his industry career, he had positions as quality and sales
manager in the shipping industry. He has served as research director of the Concept research program,
director of the program for continuing education in project management at NTNU, and as senior researcher
in SINTEF Technology and Society. Olsson has published a large number of scientific articles in peerrevived journals and books in the fields of project, facilities, maintenance and rail traffic management,
as well as on scientific writing. He serves as a regular reviver for journals and conferences.
Madhavan Parthasarathy is Jake Jabs Professor of marketing and entrepreneurship at the University
of Colorado Denver and is director of both the entrepreneurship program and the Jake Jabs Center for
Entrepreneurship. He teaches Marketing Research, Marketing Management, and The Business Plan, at
the Business School and the Jake Jabs Center. Dr. Parthasarathy’s research interests focus on customer
retention, switching and discontinuance behavior, cross-cultural research, and the diffusion of innovations. He has published in over 25 articles in noteworthy journals such as Information Systems Research,
International Marketing Review, Journal of Macromarketing, and the Journal of the Academy of Marketing Science. Dr. Parthasarathy has international entrepreneurship experience and was the co-founder of
two small businesses in India, and one venture that involved multinational entrepreneurship.
Chandra Sekhar Patro is currently a Assistant Professor at Gayatri Vidya Parishad College of Engineering (Autonomous) and doing his Ph.D in Faculty of Commerce and Management Studies from
Andhra University, India. He has post-graduate degree in Master of Commerce (M.Com.) from Andhra

414


About the Contributors

University, Master in Financial Management (MFM) from Pondicherry University, and also MBA (HR
& Finance) from JNT University. Mr. Patro has over 9 years of teaching experience in higher education.
Mr. Patro has gained very good knowledge in Human Resource Management and Accountancy/Finance
subjects. He has published number of research papers in reputed National and International Journals and

also presented papers in National and International Conferences.
Colin Read is a Professor of Finance and Economics at SUNY Plattsburgh and the author of a dozen
books on the history of finance. His Ph.D. is from Queen’s University, and he has a B.Sc. in Physics
from Simon Fraser University. Prof. Read is also the Mayor of the City of Plattsburgh.

415


416

Index

A
aftermath 216-217, 220-222, 224, 231
Al-Qa`ida 318
Al-Shabaab 306
archives 213-215, 222-226, 231-232, 246, 248, 311
asset management 200, 207, 210

B
Bachelier 99-100, 108-110, 112
banking 2, 38-39, 41-43, 49-50, 52, 157
Bernoulli 99-101, 104-106, 110, 113
Big Data Analytics 197
breach 157, 269-271, 274-275, 281, 284-285

C
Capital Adequacy 41-42, 54
case studies 183, 211-212, 214, 216, 227-228
Central Limit Theorem 101-102, 104, 108-109, 114,

120, 122, 320-321
climate change 116, 119, 125-126, 327
communication 57, 121, 136, 157, 160, 175, 179,
187-188, 192, 197, 204-205, 207, 220-222, 253,
269, 274, 284, 310
compliance stage 5, 12, 19
contingency planning 116-119, 125, 128, 214, 228,
233, 235, 289, 305-306, 320-321
contracts 78-79, 95, 103, 112-113, 249, 256, 258-262,
267, 331-332, 337
controlled experiment 55, 59, 71
credit rating 41, 44-45, 54
credit risk 41-46, 54, 135
Cultural Collectivism 71
cultural heritage institutions 214, 228, 232-234, 246,
248




Cultural Masculinity 71
Cultural Power 71
Cultural Time Orientation 71

D
Death Seekers 165, 173
decision making behavior 56-57, 59-61, 64, 66
Deming 174-182
direct breach 274-275, 284
disaster plan 214-215, 220-221, 226, 228, 231

disaster planning 212-215, 219-220, 222, 227-228
disaster recovery 214, 217
disaster response 215, 233-234, 236, 244
domestic terrorism 116, 128-129, 133, 306
domestic terrorist 307, 324-325

E
emergency 211-216, 219-228, 231, 233, 238
Enterprise Risk Management 1-3, 19
ERM framework 4, 9, 11
ERM Maturity Analysis 1, 11
ERM maturity continuum 5, 7, 9, 12-13, 19
Ethnocentrism 325
event study 20-23
exhibition 232-237, 239-241, 243, 245-246, 248-249

F
facility report 235-243, 248
failure rate 194, 196, 210
Fine Art Insurance 243-244, 248
Fire Protection System 249
flooding 119, 121, 211, 213-214
Fully Integrated SC 284


Index

G

O

Gauss 99, 102-104, 106-108
Gaussian distribution 102, 108, 114
global culture 56, 60, 71, 117, 129, 133
global terrorism 116, 119, 121, 125-126, 128, 133,
155, 305-315, 318, 320-322
global terrorist 117, 306, 314-315, 318, 324-325
group decision making 57, 61, 66, 71

operational risk 41, 43, 49, 54
Ordinary Least Squares 103, 114

H
HDFC 38, 42, 47, 50, 52, 54
Hygrothermograph 240, 249

I
improvement stage 5, 12, 19
indirect breach 274-275, 284
Interpretative Structural Modelling 286
IT security 269-282, 285

L
led 13, 38, 41, 52, 78, 174, 177, 223-224, 240, 249,
312, 330
level of analysis 56, 71-72, 200
Liberation Tigers of Tamil Eelam 314, 317
Loan Review Mechanism 45, 47
Loosely Integrated SC 275, 284
Lux 249

M
Management Reserve 256, 267
market risk 8, 23, 25, 41, 43, 51, 113
Markowitz 99-100, 110-111, 120
mean and variance 101, 109-110, 113
Mean Failure Time 210
Minimally Integrated SC 274, 284
Mississippi State University 222
Modern Portfolio Theory 99-100, 110

N
Non- Performing Asset (NPA) 54
normal distribution 81-82, 102-105, 107-109, 112114, 122-123

P
present value 21-23, 25, 50, 127
probability density 102, 108, 194, 210
process improvement 12, 200, 207, 210, 287
Project Approach 185
Project Assumptions and Dependencies 185
Project Control 344
project management 122, 135, 141, 174-176, 182184, 252-254, 256-257, 259-263, 327-328, 330,
332-333, 340
Project Milestones 185
Project Organization 185
project scope 185, 250, 262, 328-330, 333, 344
project success 250, 252, 258-260, 262, 267

Q

QA2 328-330, 332-335, 337-338, 344
Qualitative Factors 42, 97, 153
Quality Assurance Scheme 326, 328, 339, 344
quality control 28, 200, 207, 210
Quantitative Factors 97, 153

R
Recovery and Restoration 216, 218, 224, 231
reduction list 328-329, 331-332, 334-338, 344
Reflexibility 173
reliability block diagram 195, 210
reliability optimization 200, 207, 210
renewable energy 73-74, 80, 94, 97
Risk Abatement 187-193, 196-197, 199-200, 202-203,
205-208, 210
Risk agenda 137, 153
risk assessment 6, 9-13, 120-124, 127, 134-136, 149,
212, 246, 296, 298-299, 327
risk evaluation 120, 296, 298-299
risk identification 120, 124-127, 140, 255, 289, 296,
298-299
risk management 1-15, 19, 38-43, 45-46, 49-52, 97,
99, 108-111, 113, 117, 120-121, 123-125, 127,
129, 134-137, 139-141, 147-149, 153, 156, 190,
235, 250, 252-264, 267, 272, 286-289, 296,
298-299, 332

417

Index

Risk management drivers 153
risk measurement 41, 49-52, 113, 141, 296, 298-299
risk mitigation 3, 6, 15, 44-45, 126, 250, 253, 256,
258, 267, 279, 289, 298
risk society 156, 167, 173, 189, 288
risk strategy 4, 39, 43, 134, 250, 267

S
Samuelson 99, 112
SC integration 277, 279, 282, 285
Scholes 99-100, 112
scope change 262, 344
Sharpe 99-100, 111
Shining Path 314, 316, 318
simulation 73-74, 83, 90, 124, 159, 256, 272
socialized culture 56-57, 59-62, 66
Socio-Cultural Behavior Prediction 72
Socio-Cultural Uncertainty 72
socio-political 116-121, 125-126, 128-129, 133
solar power 77-79, 83-85
special collections 222, 232, 234, 243, 246, 248
stock market return 20-21
supplier selection 286-289, 298-299
supply chain 5-8, 10-13, 15, 189, 269-270, 273, 277278, 280, 282, 285-289, 291-292, 296, 298-299
supply risk management process 286-287, 289, 298-299
sustainability 4, 40, 326-327, 330-331, 333-334, 336340, 344

T

Terror Education 325
terrorism 56, 116, 119, 121, 125-129, 133, 154-156,
160-164, 167, 173, 273, 288, 305-315, 318,
320-322, 325
Thana-Capitalism 163-166, 173
TQM 175-184, 200
transformational stage 5, 13, 19

418

U
University of Memphis 216

V
value engineering 330-332, 337, 339, 344
vulnerability 42, 212, 226, 272, 274-281, 285

W
Wind Energy 74-76, 78, 80, 85-86, 89, 94, 187, 194, 210
wind turbine 187, 193-197, 210