In almost all cases, the transport industry has adopted safety management systems (SMS) in response to a regulatory initiative. SMS vary dramatically across transport modes and jurisdictions - often because of the influence of different legacy regulatory programmes, and the attendant cultures....

This discussion paper presents an introduction to safety management systems (SMS) as they apply to transportation organisations across modes and industries, and provides a broad overview of SMS and its processes, activities and tools. The discussion is grounded on conceptual foundations, but...

This paper discusses obstacles faced in implementing SMS and uses concrete examples to show how to overcome them across all modes of transport (air, maritime, rail and road) in leading countries, particularly ITF member countries. The difficulties and problems in implementing SMS can originate...

System resilience is the ability for complex, dynamic-adaptive socio-technical systems to absorb and rebound from trauma or stress, and to avoid "jousting with dragons" where results are uncertain and often fatal. In a safety context, the term "dragons" originates from Professor David Woods at...

In diesem Beitrag skizziere ich einen Zugang zum Messen, Bewerten und Verstehen betrieblicher Ressourcenkulturen. Ohne die Sinndimension ist jedes Messen und Bewerten sinnlos - vermutlich scheitern deshalb viele Messansätze. Die vorgestellte Analytik basiert auf unserer Theorie der...

Macroeconomic risk assessments play an important role in the forecasts of many institutions. However, to the best of our knowledge their performance has not been investigated yet. In this work, we study the Bank of England?s risk forecasts for inflation. We find that these forecasts do not...

Valuing a change in the risk of death is a key input into the calculation of the benefits of environmental policies that save lives. Typically such risks are monetized using the Value of a Statistical Life (VSL). Because the majority of the lives saved by environmental policies are those of...

This paper tries to calculate quality of life (QOL) from subjective health evaluations in Japan following Cutler and Richardson (1997) and Groot (2000). It then extends the model in several ways. Firstly, while previous studies define the domain of QOL in an ad hoc manner, i.e. excluding...

The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking process in the committee. The paper shows that the Federal...