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Stakeholders not satisfied with probability assessments

It is obvious that risk and uncertainty analyses can and will always be challenged by opposing stakeholders not satisfied with probability assessments. They will base the challenge based on their subjective, modeled or even „pseudo statistical“ approaches. Under the excuse of limited or poor available knowledge of the problem at stake some stakeholder may invoke the „unrepresentative“ character of expert analyses. In addition they will try to avoid making sensible decisions based on “mistrust„ in the results. Indeed they will…

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Johari window application in risk management

Johari window application in risk management is an exploration of possible corporate application of a therapeutic tool. The psychologists Joseph Luft and Harrington Ingham developed the tool back in 1955. The Johari window became world-renown when US Secretary of Defence Rumsfeld quoted parts of it. You probably remember the known unknowns and the unknowns you do not know you don’t know in an “intelligence” talk. The Johari window and its original meaning The Johari window is a four squares graph…

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A risk advisor point of view on Blockchain

A risk advisor point of view on Blockchain is the result of recent readings in specialized news outlets. Some boldly stated “… and just hope you jumped on time on the bandwagon as such solutions will likely represent a deadly competitive threat to those who do not have them.” Why is that statement so bold and enthusiastic? The idea is indeed extremely enticing: imagine having solutions capable of replacing many of the most onerous processes in contracts and transactions. For…

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Integrating traditional knowledge in risk assessments

Lately we have been busy working on a mining related comprehensive risk assessment. Integrating traditional knowledge in risk assessments proved to be a significant skill as public records and other usually available data were almost non-existent. We use the adjective “comprehensive” for risk assessments covering multi hazards (earthquake, flood, man-made, etc…). The term also covers assessments with a variety of targets such as population, environment, as well as supply chain network elements. Various source of information When performing a comprehensive…

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