Risk management is aimed at determining possible problems beforehand in order to plan and invoke risk-handling activities, as required, across the project's or product's life, for mitigating negative effects on attaining objectives. The process of risk management constitutes a key part of technical and business management systems; it is constant and forward-thinking. Risk management must deal with problems that threaten the attainment of key aims. A constant risk management strategy is adopted for successfully predicting and reducing risk elements, which critically affect a venture. A sound risk management plan entails timely and forceful risk identification by way of participation and collaboration of concerned stakeholders. Effective leadership is required across all concerned stakeholders for cultivating an environment conducive to honest and uninhibited discovery and analysis of risk. While technical problems constitute a major concern in the early stages as well as all through the course of the project, risk management has to take into account both external and internal sources for technical, cost, and schedule risk. Timely and aggressive risk detection is crucial as it is easier, cheaper, and less troublesome to carry out change and amend work efforts in the initial project stages than in the latter ones. Risk management may be segregated into three divisions: outlining of risk management plan; risk detection and analysis; and addressing discovered risks, including implementing risk alleviation plans whenever required (Guidelines for Risk Management Process Review, n.d).
Risk factors
This refers to variables, which have a statistical link to relevant outcomes and lead up to the outcomes. They may be either dynamic (variable) or static (fixed). As a rule, these factors are causal. In other words, some of the risk factors directly play a part in bringing about the outcome, their absence alleviates risks, whereas others are red flags or indicators that provide warning regarding chances of an outcome, but, on manipulation, have no effect on the outcome. Indicators might be linked to other identified or unidentified determinants. One can classify risk factors in several ways: those obtained empirically from research, and non-empirically obtained factors ascertained via clinical evaluation, otherwise called specific determinants. The former have been determined by means of population studies, which are revealed to have possible connections with risks of aggression in future. A majority of risk factors, which are most strongly linked to mid-to-long-term risks of harm have a static nature (Allnutt, O'Driscoll, Ogloff, Daffern & Adams, 2010).
Static Risk Factors (Past)
These denote factors related to an intensified risk of aggression; they are fairly steady (i.e., don't undergo rapid alterations with time). One static determinant is age, since it changes extremely slowly with time. Such risk factors offer information with regard to an individual's baseline risk as well as chances of aggressive behavior in the long run (that is, the best state that may be anticipated in the absence of all dynamic (changing) risk factors). Static determinants are crucial as they indicate the level of dynamic factors, which may likely be tolerated. E.g., if an individual exhibits high static-factor loading, less dynamic-factor loading must be borne. Following is a list of static risk determinants:
• Early maladjustment
• Prior violence
• Employment issues
• First incident of violence at a tender age
• Personality disorder
• Unstable relationships
• Psychopathy
• Major mental disorder
• Substance use issues
• Failure of prior monitoring (Allnutt et al., 2010)
Dynamic Risk Factors (Present)
Whereas static risk determinants inform experts of aspects pertaining to an individual's long-run or baseline risks, dynamic factors reveal the internal capacity of an individual or that of the environment to tackle that risk. These factors vary and cause change in the risk from baseline. They are flexible, and can be altered and controlled. They may alter in magnitude and strength, with time, and might otherwise be absent. In this context, they are not categorical, but dimensional. Some of the dynamic factors can be enduring, and despite being potentially variable, prove to be more tough to change (for instance, substance addiction). Others, like intoxication, are more severe, fast-changing and easier to control. Dynamic factors uncover the changes in the risk profile of an individual from base line (determined by static variables). The presence of dynamic factors allows a chance to improve risk levels through employing interventions to deal with them. All risk determinants are not causal (as mentioned before), and therefore all dynamic determinants are not causal. Identification of dynamic factors via empirical studies may be more challenging as they vary and, hence, the empirical basis is weaker (Allnutt et al.,, 2010; Andrews, Bonta&Wormith, 2011). Dynamic factors may be grouped into internal, case-specific and situational elements:
Internal Risk Factors
These are typically clinical...
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