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Background: In South Africa, the export of coal is a large contributor to the gross domestic product. Statistics indicate that the export of coal is stagnant or declining, which indicates a risk for coal as a foreign exchange earner. A study into the risks facing the bulk coal export logistics chain is therefore of great importance. Any risk to thi...
Contexts in source publication
Context 1
... step includes considering aspects such as risk appetite, which is defined as 'the amount and type of risk that an organisation is prepared to pursue, retain or take' (IRM n.d.), and using a risk matrix to determine how likely a risk will occur and to what extent would such a risk impact on the sustainability of the institution. Figure 1 displays an impact (consequence) versus probability risk matrix, which assists in determining the risk scoring and risk profile of each risk identified. ...
Context 2
... Figure 1, the probability that a risk will occur is evaluated with a 5-point scale. The probability or likelihood of a risk can be weighted in the following categories: 5 = almost certain; 4 = very likely; 3 = likely/possible; 2 = unlikely; 1 = rare. ...
Context 3
... the impact (consequence/effect) part of the matrix, the severity of the impact is shown on a 5-point scale with 5 = extreme; 4 = high; 3 = medium; 2 = low; 1 = negligible. In Figure 1, the L indicates a low likelihood/impact, M a medium likelihood/impact and H a high likelihood/impact. With this matrix, a score for each risk can be determined. ...
Context 4
... all, R3.5bn had been approved for the doubling of the Overvaal tunnel. However, execution had not commenced owing to further assessments being conducted for an alternative technology solution to develop the tunnel (Transnet 2016 In conclusion to Theme 1 -Infrastructure: If the risk matrix in Figure 1 is applied, the risk scoring for infrastructure is as follows: Likelihood of risk occurring = 4 and Severity of risk = 4. From this it is deduced that this is a very high risk item (risk score = 16). ...
Context 5
... conclusion to Theme 2 -Macro-economy: If the risk matrix in Figure 1 is applied, the risk scoring for macro-economy is as follows: Likelihood of risk occurring = 4 and Severity of risk = 4. From this it is deduced that macro-economy is a very high risk item (risk score = 16). ...
Context 6
... conclusion to Theme 3 -Uncontrollable events of nature: If the risk matrix in Figure 1 is applied, the risk scoring for uncontrollable events of nature is as follows: Likelihood of risk occurring = 3 and Severity of risk = 3. From this it is deduced that this is a medium risk item (risk score = 9). ...
Context 7
... conclusion to Theme 4 -Operations and management risk in the chain: If the risk matrix in Figure 1 is applied, the risk scoring for operations and management is as follows: Likelihood of risk occurring = 2 and Severity of risk = 4. From this it is deduced that this is a medium risk item (risk score = 8). ...
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Citations
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Purpose
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Design/methodology/approach
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Findings
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Research limitations/implications
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Originality/value
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