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Ten specific questions Riskope/ORE effectively and elegantly solve for you and your company

Ten specific questions Riskope/ORE effectively and elegantly solve for you and your company

Feb 8th, 2017

We are delighted to show below ten specific questions Riskope/ORE effectively and elegantly solve for you and your company.

ORE is the methodology Riskope has developed over two decades of continuous improvements while working for Fortune 500, international organizations, private groups and governments.

Ten specific questions Riskope/ORE effectively and elegantly solve for you and your company.

For the ease of reading we have grouped the ten specific questions Riskope/ORE effectively and elegantly solve for you and your company in four sub-headings. Based on prior experience multiple questions are often asked. In that case ORE display their best aspect as the same register allows to prepare the necessary data and replies, thus optimizing time and effort.

Ten specific questions Riskope/ORE effectively and elegantly solve for you and your company.

Quantitative evaluations of Liability, Business Interruption

1. Rational and detailed sizing of third party liability insurance for your operation.
BENEFIT: control over “fixed expenses”, better coverage with transparently defined over/under exposure.
HOW WE DO IT: use quantitative empirical data, modelling, analysis of probabilities and multi-dimensional consequences, to assess the p75 p90 and p95 of your operation’s potential losses and then compare them to your insurance coverage.
Can be done for one hazard (for example fire) or multiple hazards (for example tsunami, earthquake, windstorm, etc.).

2. Rational and detailed sizing of Business Interruption insurance for your operation.
BENEFIT: what is “a necessary fixed expenses”, what can be controlled with “out of the box thinking”, better coverage with transparently defined and planned over/ under exposure.
HOW WE DO IT: use quantitative empirical data, modelling, analysis of probabilities and multi-dimensional consequences, to assess the p75 p90 and p95 of your operation’s potential losses and then compare them to your insurance coverage.
Can be done for one hazard (for example fire) or multiple hazards (for example tsunami, earthquake, windstorm, etc.).

3. Comparative analysis of logistic solutions (alternative roads, wharves, rail vs. road vs. air, etc.), including “cradle to grave” life cycle.
BENEFIT: which solution gives the optimum long term results in terms of Business Interruption control, including multi-hazards risks.
HOW WE DO IT: include risks for each alternative in a transparent way while addressing the limitations of traditional Net Present Value (NPV) approaches. Evaluate critical inter-dependencies and complexities of supply chain systems to better understand the system.

Business continuity, resilience enhancement of projects and alternatives

4. Quantitative evaluation of projects and supply chain systems alternatives (what is better between working with a classic process or a new one, is it better to move production in another country or “repatriate”, etc.).
BENEFIT: understand the multi-hazard risk landscape surrounding your decision. Short term, mid-term, long term.
HOW WE DO IT: include risks for each alternative in a transparent way while addressing the limitations of traditional Net Present Value (NPV) approaches. Evaluate critical inter-dependencies and complexities of each project and supply chain systems alternatives to better understand possible propagation and amplification of multi-dimensional consequences.

5. Business continuity when facing catastrophic events, resilience evaluation
BENEFIT: formal approach to crisis management and enhancement of operational resilience in face of business disruption.
HOW WE DO IT: scenario building, use quantitative empirical data, modelling, analysis of probabilities and multi-dimensional consequences
Can be done for one hazard (for example fire) or multiple hazards (for example tsunami, earthquake, and windstorm).

Risk tolerance, comparative mitigation evaluation, risk and security audits

6. Mitigation’s comparative evaluation especially when considering possible residual risks.
BENEFIT: avoid squandering money in oversized mitigations, fearing the costs of mitigations will not be sustainable.
HOW WE DO IT: quantitative analyses of risks pre- and post-mitigation based on quantitative empirical data, modelling, analysis of probabilities and multi- dimensional consequences.

7. Risk & security audits. Provide an impartial, third-party validation of key assumptions, calculations, and risks for project feasibility (or more detailed) studies.
BENEFIT: verify compliance, identify compliance gaps, and assess effectiveness of systems in preventing risks.
HOW WE DO IT: use 25+ year of risk assessment experience and our set of “fresh” eyes to make sure everything has been considered.

8. Multi-dimensional risk tolerance thresholds definition. Each risk assessment requires a quantitative risk tolerance threshold to be useful as a decision making tool.
BENEFIT: transparently and scientifically develop tolerance threshold for your project, operation or company to be able to align risk mitigations consistently to your project, operation or company.
HOW WE DO IT: either by facilitating specific workshops or by using proprietary methodologies included in ORE.

Contracts support, Mergers and Aquisition support (in addition to classic Due Diligence)

9. Contracting support. Support to decisions linked to classic contracting vs. Design & build, or Design, build & operate. Cost margins and contingencies evaluation. Litigation and Insurance Support.
BENEFIT: Better understanding of contingencies, risk transfer, uncertainties. Better contract, less time in court.
HOW WE DO IT: identify weaknesses in standard legal language that creates unnecessary litigation risk, understand and define Force Majeure in a B2B win-win style, review of risk assumptions used to support coverage denial and claims disputes.

10. M&A, Start-ups risks. Support Management and/or investors in their decision making. Inward/outward looking. Upside/downside risks.
BENEFITS: understand the quantitative risk landscape of a venture. Identify the pain points, party breakers, enhance resilience.
HOW WE DO IT: we identify and quantify risks that could impact enterprise value, build comparable operational risk horizon for start-up.

Conclusions

The ten specific questions Riskope/ORE effectively and elegantly solve for you and your company described above are not the only ones you may have, and have trouble solving.

At Riskope we enjoy working on one of the kind problems and take pride in finding effective and elegant solutions for our clients.

Tell us about your unanswered questions and we will start looking for a path!

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Category: Consequences, Mitigations, Optimum Risk Estimates, Risk analysis, Risk management, Tolerance/Acceptability, Uncategorized

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