Table III. Concepts of individual states... | Emerald Publishing

Table III.

Concepts of individual states for each input parameter

Risk parameters	Definition of linguistic grades
Risk parameters	Low	Medium	High
L	Rare occurrence, once every six months or less often	Occurs sometimes, from twice every six months to once every three months	Often occurs, twice every three months or more often
F	Slight or no impact considered the return from freight or below US$10,000/time	Significant impact considered the return from freight or from US$10,000 to 50,000/time	Heavy impact on the return from freight, causes loss or above US$50,000/time
I	Slight or no impact on the relationships (partner or customer), no complaint received, no observed impact on the stock market	Noticeable impact on the company’s relationships, received complaints or causes decrease in stock price but considered recoverable in short term	Heavy impact on the company’s relationships, losses of partner(s), customer(s) or breaks of contract or agreement, causes significant decrease in stock price
O	Slight or no impact on the planned voyage or ship schedule, reallocation or intensification of personnel is unnecessary	Causes changes in the planned voyage itself or ship schedule of the line, causes minor reallocation or intensification of related personnel	Heavy impact on the company’s vessel management operation, causes changes in operation plan of other ship(s) or line(s), reallocation or intensification of in-charge personnel
U	High predictability, significant chance of detection in the preparation or planning stage of the operation, legs or voyage, the mitigation or prevention methods are effectively implemented	Difficult to identify during the preparation or planning stage of the operation, legs or voyage, the mitigation or prevention methods are not yet implemented or implemented but with limited effect	Impossible or extremely difficult to foreseen during the preparation or planning stage of the operation, legs or voyage, the mitigation or prevention methods are not yet discovered by the operation manager nor planned for implementation
T	High chance of detection during the operation or at the early phase when the failure is about to begin or already caused impacts but the severity is still minor and recoverable (low)	Harder to detect, often during the operation or can only be detected when the failure is already caused medium level severity (one or more in three listed above)	Impossible or extremely hard to detect during the operation or can only be detected when the failure has already caused high-level severity (one or more in three listed above)

Risk parameters	Definition of linguistic grades
Risk parameters	Low	Medium	High
L	Rare occurrence, once every six months or less often	Occurs sometimes, from twice every six months to once every three months	Often occurs, twice every three months or more often
F	Slight or no impact considered the return from freight or below US$10,000/time	Significant impact considered the return from freight or from US$10,000 to 50,000/time	Heavy impact on the return from freight, causes loss or above US$50,000/time
I	Slight or no impact on the relationships (partner or customer), no complaint received, no observed impact on the stock market	Noticeable impact on the company’s relationships, received complaints or causes decrease in stock price but considered recoverable in short term	Heavy impact on the company’s relationships, losses of partner(s), customer(s) or breaks of contract or agreement, causes significant decrease in stock price
O	Slight or no impact on the planned voyage or ship schedule, reallocation or intensification of personnel is unnecessary	Causes changes in the planned voyage itself or ship schedule of the line, causes minor reallocation or intensification of related personnel	Heavy impact on the company’s vessel management operation, causes changes in operation plan of other ship(s) or line(s), reallocation or intensification of in-charge personnel
U	High predictability, significant chance of detection in the preparation or planning stage of the operation, legs or voyage, the mitigation or prevention methods are effectively implemented	Difficult to identify during the preparation or planning stage of the operation, legs or voyage, the mitigation or prevention methods are not yet implemented or implemented but with limited effect	Impossible or extremely difficult to foreseen during the preparation or planning stage of the operation, legs or voyage, the mitigation or prevention methods are not yet discovered by the operation manager nor planned for implementation
T	High chance of detection during the operation or at the early phase when the failure is about to begin or already caused impacts but the severity is still minor and recoverable (low)	Harder to detect, often during the operation or can only be detected when the failure is already caused medium level severity (one or more in three listed above)	Impossible or extremely hard to detect during the operation or can only be detected when the failure has already caused high-level severity (one or more in three listed above)