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, 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, “mistrust„ in the results (as they feel their gut feeling is necessarily better than a science based approach) to avoid making a sensible decision.…

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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 developed back in 1955 by the psychologists Joseph Luft and Harrington Ingham. The Johari window became world-renown when US Secretary of Defence Rumsfeld quoted parts of it (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 shown in the picture…

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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 which 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…) and a variety of targets such as population, environment, as well as supply chain network elements. Various source of information When performing a comprehensive risk assessment it is fairly…

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