Technical risk

Evaluation. The evaluation of each idea should iaclude a technical description as well as its economic impact and technical risk. Ideas should be ranked for implementation. A report should provide a five-year framework for energy projects. 

This design is theoretically possible, and it is even intriguing as a way to reduce capital. Practically, there are severe technical risks which... 

The technical evaluation of a process includes the determination of the technical risk during design, start-up, and operation of the process. Factors increasing the technical risk are ... 

Risk analysis is a term that is applied to a number of analytical techniques used to evaluate the level of hazardous occurrences. Technically, risk analysis is a tool by which the probability and consequences of accidental events are evaluated for hazard implications. These techniques can be either qualitative or quantitative. 

AIU Energy/Starr Technical Risks Agency, Inc. AKZO Nobel Chemicals, Inc. 

Hank C. Jenkins-Smith is professor of public policy at the George H.W. Bush School of Government and Public Service at Texas A M University in College Station. He holds the Joe R. and Teresa Lozano Long Chair of Business and Government at the Bush School. He was previously professor of political science and director of the Institute for Public Policy at the University of New Mexico. Professor Jenkins-Smith s areas of research include science and technology policy, environmental policy, public perceptions of environmental and technical risks, and national security policy. Professor Jenkins-Smith has written books on the public policy process and policy analysis and has served on a number of committees for the National Research Council. 

The two key elements of any biotech story are the importance of the medical need and the rationale for why this idea is likely to work when previous efforts have failed. While the time value of money should theoretically be important, given the long timelines for drug development, in practice estimates of successful drug valuations and technical risks usually overshadow the risk-free time cost of money. 

A question I am consistently asked about funding a biotech company is, "What kind of investor can afford to accept the extremely high technical risk of drug development while waiting 10 to 15 years for a product launch "... 

The answer is, no single investor can get the job done. Rather, funding a biotech company requires a chain letter strategy, whereby subsequent groups of investors achieve their target returns by passing the stock "baton" to the next level of investors as technical risks decline. 

Public investors purchase stock in IPOs or follow-on rounds after the technical risk has declined and the stock is liquid. Some of these investors expect to make their return when important commercial milestones are achieved, i.e., positive Phase 3 results, FDA approval, or financial breakeven, usually within a few years. Other investors are "momentum players" who hope to buy the stock on an upswing and get out before investor enthusiasm wanes, often within several months. Still other speculators enjoy playing the high volatility of biotech stocks, hoping to make returns within several days. 

In other words, often the most dramatic breakthroughs have come from sailing upwind againsf the current wisdom. Unfortunately, sources of money rarely have sufficient expertise on their own to make judgments about technical risks, so their wind blows in the same direction as academic opinion. Thus, the real drug pioneers face a daunting task, and they are pretty much on their own, just as Columbus was. 

The conceptual phase The team then reviews the ideas against relevant project criteria such as potential impact on long-term project economics, impact on operations and maintenance costs, effect on the capital cost for the project, validity to the project scope of work, technical risks associated with implementation of the new concept, impact on project schedule, and cost required to implement the improvement. Each study has specific criteria against which proposed alterna-... 

Biologist and earth scientist. Researcher in plant physiology at the University of Vienna until 1991 (specialised in photosynthesis research, simulation of plant bio-productivity). Over 60 publications on environmental issues. 1992 invited speaker at the Alpbach Forum 1996 winner of the grand Austrian Environment Award (of Lower Austria) top-notch journalist on environmental issues admission to the "Austrian Scientific Forum for Environment Protection", board member since 2001. Director of the Chemicals Policy Division of the BMLFUW since the end of September 1997 fields of activity legislation on chemical substances at the national, European and UN levels. Scientific and technical risk assessment of substances and products, best practice diffusion for the production and application of chemical products. 

In Chapter 7 I will examine how risk assessment of chemicals is carried out. In this chapter I take a closer look at the concept of risk as it is used both in technical risk assessments and in everyday life. I suggest that rather than trying to assess the risks of a technology we should ask how risky the technology is. Riskiness is a way to think about the uncertain threat that the precautionary principle refers to. I also discuss the importance of the context of the risky situation in risk evaluation and attitudes to risks. 

The fulfilment of all laws and regulations is, in most cases, not sufficient for safe design and operation. On the one hand, the corresponding legal framework always leaves a certain freedom of action and, on the other hand, the legislative authority cannot cover all the diverse technical risks. To reduce the risks to a minimum the design must be executed by experienced professionals with a sense of responsibility and with careful systematic planning. 

Again regardless of in-house or outsource development, document a list of features and prioritize them. Break the project down into short, timeboxed iterations, each focusing on one or two of these features (Chapter 5). Do not let the iteration deadline slip. Reduce the scope of the iteration if necessary. Implement features with high business values and high business and technical risks in early iterations. Make sure each iteration delivers a production quality partial system to solicit feedback and let the system grow incrementally. The project plan should be adjusted based on the feedback. It is OK if the initial project plan is not accurate. However, it should become more and more accurate as more iterations are completed. Test and integrate early and frequently. 

It is believed that the technical risks in terms of energy security at present are outweighed by political and commercial risks, which constitute the main challenge to the security of the region. The immediate recommendations are ... 

Assessment and Management. Dr. Bley has published extensively on subjects related to risk assessment. His current research interests include applying risk analyses to diverse technological systems, modeling uncertainties in risk analyses and risk management, technical risk communication, and human reliability analyses. 

David Morganthaler. April 2000. Assessing technical risk. Unpublished presentation, National Institute of Standards and Technology. 

The implementation of coal gasification will occur as more data are available to eliminate technical risk. Currently we can visualize a competitive cost or 3.00 to 3.50/million Btu for LBG and MBG in large units utilizing 5,000 to 10,000 tons of coal per day. These units could provide a guaranteed supply of gas to.industry without being diverted to use for priority consumer needs. MBG particularly could become a distributed gas for industrial use. Several areas where suitable industrial plants are concentrated have been listed in a study sponsored by... 

Technical risk encompasses everything related to the technology itself, e.g., pending patents, product performance, unsolved manufacturing issues, etc. 

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