Integrated and convergent risk approaches need some discussion. Are they so different? And what about the good old Enterprise Risk Management (ERM)? In our modern society, organizations require a 360-view across all business units, risks and compliance functions. ERM approaches should cover that. Experience shows that oftentimes ERM does not cover key business partners, suppliers and finally outsourced entities, the “Enterprise” (system) definition remains implicit. Thus there is no 360-view across business units, risks and compliance functions. Maybe that was…
Read More
Corporate risk management (ERM) platform requirements to limit corporate failures explores why corporations, projects, startups continue to fail. That is despite apparent efforts made by various stakeholders. Voices here and there say that Enterprise Risk Management does not work, that we need new and esoteric tools. At Riskope we firmly believe, based on our experience, that Enterprise Risk Management does work if the platform has some important characteristics that common practice platform do not have. Corporate risk management (ERM) platform…
Read More
At Riskope we champion the idea that Risk assessment, Social License to Operate (SLO) and Corporate Social Responsibility (CSR) are strongly intertwined. It is part of our silo-breaking philosophy. Riskope’s builds risk assessments considering multidimensional consequences. These include “people” consequences, such as loss of quality of life. At the end of the day SLO and CSR are supported by enhanced transparency, clearer vision and distance themselves from a mere PR act, as people will identify more with the prospective realities.…
Read More
Tailings dams quantitative risk assessment has to rely on proper evaluation of consequences and probabilities. The goal is to be able to economically and swiftly prioritize a portfolio of dams. That is in order to develop risk informed decision making for mitigation as also discussed in a recent blogpost. ORE2_Tailings app to evaluate probabilities ORE2_Tailings app is primarily addressing the needs of owners or regulators of dam portfolios. A dam portfolio may cover several extractive centers, several mining companies with…
Read More
Where lies the line in the sand between Technological risks or technological idiocy? Would you accept to rely on a “perfect system” that has no bypasses, safety overrides? Such systems exist and people, corporations are flocking to use them. “Append only” systems We can interpret Blockchain as a “append only” distributed database with no central server. In addition a blockchain database has no ability to change or modify a record once it is added. That characteristic is called immutability. Immmutability…
Read More
A tale of hazards, risks and resilience came to my mind while in Venice, end of October. I lived though an extraordinary “acqua alta” (high tide) which submerged approximately 70% of the city and was reportedly the fifth event of such magnitude in 924 years. Aqua alta is a complex event combining high tide and wind driven surge in the Venetian Laguna: South winds hinder the tide outflow and “push” in the Laguna open sea water. Aqua alta is not…
Read More
Last week we focused on technical aspects of the Risk analysis of dam break. This week we go further by looking at societal tolerance and approaches. These may integrate ethical and economical approaches to these studies. Probability of failure and bench-marking of the case history dam A recent study of a tailings dam (centerline, rockfill, well investigated, built and monitored) using the ORE2_Tailings app delivered an estimate of the probability of failure. The result was pf in the 10-4 to…
Read More
