...The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One by Tom Aabo, Aarhus School of Business, John R. S. Fraser, Hydro One, Inc., and Betty J. Simkins, Oklahoma State University T he Chinese symbols for risk shown above capture a key aspect of enterprise risk management. The first symbol represents “danger” and the second “opportunity.” Taken together, they suggest that risk is a strategic combination of vulnerability and opportunity. Viewed in this light, enterprise risk management represents a tool for managing risk in a way that enables the corporation to take advantage of valueenhancing opportunities. A missed strategic opportunity can result in a greater loss of (potential) value than an unfortunate incident or adverse change in prices or markets. As in the past, many organizations continue to address risk in “silos,” with the management of insurance, foreign exchange risk, operational risk, credit risk, and commodity risks each conducted as narrowly focused and fragmented activities. Under the new enterprise risk management (ERM) approach, all would function as parts of an integrated, strategic, and enterprise-wide system.1 And while risk management is coordinated with senior-level oversight, employees at all levels of the organization are encouraged to view risk management as an integral and ongoing part of their jobs. While there are theoretical arguments for corporate risk management,2 the main drivers for...
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...Tags | Field | Data | 020 | ISBN | | 022 | ISSN | | 050 | Call Number | | 100 | Main Entry (Personal Name) | | 110 | Main Entry (Corporate Name) | | 245 | Title and Statement of Responsibility | Apple Computer's Neil Buchanan, Neill Dixon, Mario DeSilva and David Leonard, President of Trebas Institute. | 250 | Edition | | 260 | Publisher and Place of Publication | Canada: [between 1969-2000] | 300 | Physical Description | 1 photograph : b&w gelatin silver print ; 12.5 x 17.5 cm. | 490 | Series | | 500 | General Notes | Credit: Library and Archives CanadaCopyright: Various | 505 | Content Notes | | 650 | Topical Subject Heading | | 700 | Added Entry (Personal Name) | Leonard, David. | 710 | Added Entry (Corporate Name) | | Tags | Field | Data | 020 | ISBN | | 022 | ISSN | | 050 | Call Number | | 100 | Main Entry (Personal Name) | | 110 | Main Entry (Corporate Name) | | 245 | Title and Statement of Responsibility | Commodore Educational System, Ltd: Computer English. | 250 | Edition | | 260 | Publisher and Place of Publication | Canada: 1970 - 1979 | 300 | Physical Description | 1 reproduction: offset lithograph on wove paper. 51.5 x 72.5 cm.Support: 72.500 x 51.500 cm | 490 | Series | | 500 | General Notes | This poster is for the Commodore Educational System. | 505 | Content Notes | | 650 | Topical Subject Heading | Credit: Library and Archives Canada, 1984-92-114 | 700 | Added Entry (Personal...
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...MICRO-HYDRO POWER Introduction Water power can be harnessed in many ways; tidal flows can be utilised to produce power by building a barrage across an estuary and releasing water in a controlled manner through a turbine; large dams hold water which can be used to provide large quantities of electricity; wave power is also harnessed in various ways. It is a technology that has been utilised throughout the world, by a diverse range of societies and cultures, for many centuries. Water can be harnessed on a large or a small scale - Table 1, below outlines the categories used to define the power output form hydropower. Micro-hydro power is the small-scale harnessing of energy from falling water; for example, harnessing enough water from a local river to power a small factory or village. This fact sheet will concentrate mainly at micro-hydro power. Large- hydro Medium-hydro Small-hydro Mini-hydro Micro-hydro More than 100 MW and usually feeding into a large electricity grid 15 - 100 MW - usually feeding a grid 1 - 15 MW - usually feeding into a grid Above 100 kW, but below 1 MW; either stand alone schemes or more often feeding into the grid From 5kW up to 100 kW; usually provided power for a small community or rural industry in remote areas away from the grid. Pico-hydro From a few hundred watts up to 5kW Table 1: Classification of hydropower by size. kW (kilowatt) - 1000 Watts; MW (megawatt) - 1 000 000 Watts or 1000 kW In the UK, water mills are known to have been in use 900...
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...• Start with an executive summary (100 words) Superior Valve, a division of Able Corporation is a manufacturer of valves, with three separate divisions: Hydro-Con, Pneu-trol, and Made to Order (MTO). Superior’s most profitable division is Hydro-Con, its least, MTO. Superior presently seeks to elevate their profitability to match that of the other divisions of Able. Superior is headed by General Manager Jerry Conrad. Frances Kardell is the Division Controller. Todd Talbot, the Group Controller, Ralph Darwin the division's Marketing Manager, and Daria Good is the Manufacturing Manager. Superior is a fast growing company that sells valves to other companies such as Wadsworth Company, which require valves as part of their production process. • A brief introduction not exceeding one quarter of a page (50 words) Superior, looking to improve its profits, is presented with an opportunity to improve their profitability by altering their production landscape by shifting its MTO unit into manufacturing additional volume of Hydro-Con, for which a contract of 60,000 units has been placed by the Wadsworth Company. General Manager Jerry Conrad must consider all of the pros and cons involved with such a change. The Superior Valve Division 1. Critically analyze the Wadsworth Company’s special order. Should the special order be accepted? If so, support your answer. If not, explain reasons. (100 words) Superior Valve earns “variable profits”, and is “not as profitable...
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...oCsr Synopsis Corporate social responsibility History: The history of today’s CRS theory has a long and wide spreading background. Despite the concept of CSR being growing, manifested and flourished in recent times, the late 1800s (industrial revolution) is considered to be the beginning of CSR concept and practice, when creating more productive employees were the main concern for promising business. One might argue to differentiate the social and business reason behind. Carnegie, Cadbury and Lever were among the many individuals who utilised company assets to improve the conditions of nineteenth century workers. Throughout the twentieth century, companies such as Norsk Hydro would take responsibility for social conditions in their, often isolated, company towns. According to management historian Daniel A. Wren, there were criticism of the emerging factory system in Great Britain, particularly regarding the employment of women and children, and these same issues occurred in the America as well. Reformers of both countries perceived the factory system to be the source of numerous social problems, including labour unrest, poverty, slums, and children and female labour. Wren depicted the industrial betterment/welfare movement of this early period as an uneven mixture of humanitarianism, philanthropy and business acumen. He points to industrialists such as John H. Patterson of National Cash Register as one executive instrumental in setting the course for the industrial...
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...ways to sell products and look for new markets. My weakness in relation to this course is that I don’t have the professional knowledge to jump into a new market. In the future I will apply all the knowledge I have learned in this chapter to my everyday life especially Porter’s five forces. When I’m not a school or work I am working on my band and if I relate this knowledge to my music I can be smarter and more knowledgeable than my competitors. This knowledge will also help me in my career in becoming a sales representative. Part 2: Insights into Chapters 2 (Week 2) Insight 1: A monopoly is a situation in which there is a single producer or seller of a product for which there are no close substitutes. A real world example would be Hydro one Inc. This company owns and operates more than 96% of the province’s...
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...1. Hydraulic Fracturing (Hydrofracking): The Risks and Rewards of the Controversial Drilling Technique And the debate has been loud, as would be expected when enough natural gas to satisfy US demand for at least a decade is set against possible harm to the water supply for almost 10 million people in one of the world capitals of media, finance, and law. The real risk is pollution. Hydraulic fracturing can be done using nothing but pure water and clean sand—in fact, those are the substances used for opening up drinking water wells. However, for a number of reasons, including cost, availability, and other desired properties, a wide variety of other substances are also used, including: • Diesel fuel (used because it’s more effective at carrying the proppant into fissures than water), which contains benzene, ethylbenzene, toluene, xylene, and naphthalene. • Polycyclic aromatic hydrocarbons. • Methanol. • Formaldehyde. • Ethylene glycol. • Glycol ethers. • Hydrochloric acid. • Sodium hydroxide. These chemicals are present in concentrations many times harmful levels. While much of the fracturing fluid is pumped out after doing its job (and it has to be pumped out, to clear the way for oil or gas), it’s impossible to get it all. Studies show that 20–40 percent of the fluid will remain underground. (Note: the study was commissioned in the context of using hydraulic fracturing to extract methane from coal...
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...Hydro-Fracking Synopsis Hydraulic Fracturing, commonly known as Hydro-Fracking is a newly discovered drilling technique for extracting natural gas from rock shale formations. These shale formations are quite abundant throughout the United States the largest being the Marcellus which encompasses a range of West Virginia to Upstate New York. Estimates predict that these 30 shale formations could provide enough natural gas for US consumption for 118 years (Fortin). Although there appears to be vast amounts of shale fissures containing natural gas within our nation, the extraction process has come under harsh scrutiny. The process of drilling and extracting these gases from the shale formations requires creating fissures within the shale by drilling horizontally, forcing water, sand and chemicals into the rock. In each 10,000 ft well over a million gallons of water is pumped, along with sand in chemicals agents in order to cause fissures. By flowing sand through the well, this acts to keep these fissures open, to allow the natural gas to escape. Between 2005-2009, the House Energy and Commerce committee released a report addressing the chemicals used in the hydro-fracking process. The report stated, “The 14 leading oil and gas service companies used more than 780 million gallons of hydraulic fracturing products, not including water added at the well site. Overall, the companies used more than 2,500 hydraulic fracturing products containing 750 different...
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...------------------------------------------------- hydro-powered vehicles in Japan Felix Young November 9, 2015 November 9, 2015 At the beginning of 2015, the Japanese government announced it would invest 40 billion yen to promote the use of hydrogen energy and hydro-powered vehicles ahead of the 2020 Tokyo Olympic Games (Mami Maruko, The Japan Times). Additionally, starting from 2016, consumers who purchase hydro-powered vehicle are going to receive subsidies worth 1 million yen in total (8300 USD). Using concepts such as law of demand, externality and market failures from an economic perspective, we are able to better interpret the reasoning behind these government policies as well as potential benefit and risk in the future. Japan is the third largest automobile market in the world with 4.7 million new cars registered annually (Statista Inc.). Among all the newly registered vehicles, only 30% of them use renewable energy such as hybrid fuels and electricity cells. Hydro-powered vehicle is still a relatively new concept to Japanese car market. However, replacing gasoline cars with hydrogen ones offer great benefit to the society. Thanks to the zero emission nature of hydrogen fuel, the greenhouse gas emission from the road will significantly go down. Environmental damage such as air pollution, acid rain and global warming can be reduced. Considering Japan’s high population density and urbanization state...
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...International Journal of Materials, Mechanics and Manufacturing, Vol. 1, No. 2, May 2013 Hydro turbine Runner Design and Manufacturing Fatma Ayancik, Umut Aradag, Ece Ozkaya, Kutay Celebioglu, Ozgur Unver, and Selin Aradag Abstract—This research describes a methodology for the parametric design, computational fluid dynamics (CFD) aided analysis and manufacturing of a Francis type hydro turbine runner. A Francis type hydro turbine consists of five components which are volute, stay vanes, guide vanes, runner and draft tube. The hydraulic performance of the turbine depends on the shape of the components; especially on the shape of the runner blades. The design parameters for the other components are affected by the runner parameters directly. Runner geometry is more complex than the other parts of the turbine. Therefore; to obtain accurate results and meet hydraulic expectations, CFD analyses and advanced manufacturing tools are necessary for the design and manufacturing of the hydro turbine runner. The turbine runner design methodology developed is presented using an actual potential hydraulic power plant in Turkey. Index Terms—CFD, francis turbine, runner, design and manufacturing. I. INTRODUCTION Turbines are used for hydropower generation. There are basically two types of hydraulic turbines, the first one is impulse and the second one is reaction type turbines. Impulse turbines work based on momentum principle; while in the reaction type turbines, the flow is fully...
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...Enterprise Risk Management at Hydro One Case Study Strategic Objective * Be the best transmission and distribution business in North America; * Implement Enterprise Risk Management by a risk-based investment planning system * 90% customer satisfaction Risk * Loss of competitiveness and volatility of financial markets; * Employee safety issues * Uncertainty in government * Equipment failure * Environment issues Strength The risk assessment process fully involves every aspect of the business. Meanwhile, instead of using a probability test to identify the potential outcomes and associated probabilities, Hydro One chose to focus on “worst credible” outcome within a given time frame and its associated probability of occurrence. It helped the group to assess the magnitude of a given risk, its probabilities and the strength of existing controls. This simple, qualitative approach has proven to be a practical and efficient way to focus on major risks while avoiding excessive detail and complex calculations. Besides, the risks are identified in a 2 to 3 year time frame. This forward looking way gets mangers to think over a 2 to 3 year horizon. Once risks and controls are assessed, a manager will be assigned to be the “risk owner” to develop specific plans to mitigate the risk, that is, a rank-ordered list of “residual risks” is assembled. Also, risk management staff do not attend internal audit meetings and the information...
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...AccountingExplained * Financial Accounting * Managerial Accounting * Miscellaneous ------------------------------------------------- Top of Form Bottom of Form Home >Managerial Accounting >Capital Budgeting > Payback Period | | | Payback Period Payback period is the time in which the initial cash outflow of an investment is expected to be recovered from the cash inflows generated by the investment. It is one of the simplest investment appraisal techniques. Formula The formula to calculate payback period of a project depends on whether the cash flow per period from the project is even or uneven. In case they are even, the formula to calculate payback period is: Payback Period = | Initial Investment | | Cash Inflow per Period | When cash inflows are uneven, we need to calculate the cumulative net cash flow for each period and then use the following formula for payback period: Payback Period = A + | B | | C | In the above formula, A is the last period with a negative cumulative cash flow; B is the absolute value of cumulative cash flow at the end of the period A; C is the total cash flow during the period after A Both of the above situations are applied in the following examples. Decision Rule Accept the project only if its payback period is LESS than the target payback period. Examples Example 1: Even Cash Flows Company C is planning to undertake a project requiring initial investment of $105 million. The project is expected...
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...PRASANNA 85. SAJID ALI 9/6/2011 INDEX SR. No. | TOPIC | Page No. | 1 | GENERATION | 3 | 2 | SOME USEFUL TERMS | 3 | 3 | HYDRO POWER PLANT | 4 | 4 | THERMAL POWER PLANT | 6 | 5 | NUCLEAR POWER PLANT | 7 | 6 | RENEWABLE ENERGY BASED POWER | 8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8 HVDC 11 9 TRANSMISSION SYSTEM 12 10 TRANSMISSION LINES 12 11 TRANSMISSION SUB-STATIONS 13 12 EQUIPMENTS IN A SUB-STATION 14 13 OPERATION OF CIRCUIT BREAKER AND ISOLATOR 18 14 GROWTH OF TRANSMISSION SECTOR IN INDIA 18 15 HOW DOES POWER SYSTEM WORK? 21 16 DISTRIBUTION SYSTEM 22 17 CONCLUSION 22 18 REFERENCES 23 GENERATION In the generation station, the production of electricity is carried out. A generating system has two basic components, a turbine, which produces rotary motion and a generator, which convert s the rotational energy into electrical energy. A generator has ‘rotor’ which is rotated by a turbine and a ‘stator’ which has the sets of coils in which electricity is generated when the rotor rotates. The difference between various modes of production lies in the techniques used to generate steam, which in turn will rotate the turbine. Based on various modes of rotating the turbine, we can classify the modes of power generation in broadly four categories 1. Hydro Power Plant 2. Thermal Power Plant 3. Nuclear Power Plant 4. Renewable energy based Power Plants Before discussing the various...
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...• Start with an executive summary (100 words) Superior Valve, a division of Able Corporation is a manufacturer of valves, with three separate divisions: Hydro-Con, Pneu-trol, and Made to Order (MTO). Superior’s most profitable division is Hydro-Con, its least, MTO. Superior presently seeks to elevate their profitability to match that of the other divisions of Able. Superior is headed by General Manager Jerry Conrad. Frances Kardell is the Division Controller. Todd Talbot, the Group Controller, Ralph Darwin the division's Marketing Manager, and Daria Good is the Manufacturing Manager. Superior is a fast growing company that sells valves to other companies such as Wadsworth Company, which require valves as part of their production process. • A brief introduction not exceeding one quarter of a page (50 words) Superior, looking to improve its profits, is presented with an opportunity to improve their profitability by altering their production landscape by shifting its MTO unit into manufacturing additional volume of Hydro-Con, for which a contract of 60,000 units has been placed by the Wadsworth Company. General Manager Jerry Conrad must consider all of the pros and cons involved with such a change. The Superior Valve Division 1. Critically analyze the Wadsworth Company’s special order. Should the special order be accepted? If so, support your answer. If not, explain reasons. (100 words) Superior Valve earns “variable profits”, and is “not as profitable...
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...treatments. The meeting was productive and speakers only spoke within their time frame. However, general discussion ran over time nearly half an hour. Beauty therapists were in disagreement on what was a high performance facial and what was an organic facial. As a result this is what we achieved. To clear up the disagreement beauty therapists had, I have provided a list below as discussed at the meeting. You will notice that some facials fall into both categories, this is because they require the use of endota organic ingredients. High performance facials are: hydro-microdermabrasion, hydro peptide, endota ceuticals and glycolic facials. Organic facials are: endota organic facials, glycolic facials and hydro-microdermabrasion. If you are still confused about this please talk to your manager or login to malachite online. Our newest treatment is the Hydro-Microdermabrasion facial. For therapists who are unsure as to what a hydro-microdermabrasion facial is I have included an explanation for you....
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