Tactical and Strategic tailings dams risk management
Sep 20th, 2018
Tailings 2.0 is designed to allow Tactical and strategic tailings dams risk management.
Tactical and strategic tailings dams risk management
The definition of corporate risk tolerance and acceptability foreseen in Tailings 2.0 allows to sort risks in tolerable/acceptable, intolerable but manageable, intolerable and requiring a strategic shift (in short: strategic risks). This is the most pertinent and efficient way to sort risks.
We can actually see the three different classes of risk, namely the blue, yellow and red classes.
The blue are tolerable risks. Therefore, by definition, in a risk management approach, one can put them aside until there are no more yellow and red risks. They are generally operational. If they have high frequencies, low consequences they actually simply impact routine maintenance and operations.
The yellow risks are intolerable but manageable. Mitigation can reduce their probabilities (brought below tolerance in the realm of credibility).
And the last class, the red risks, are unmanageable. Mitigation cannot make them tolerable within the realm of credibility unless we change the system.
Key-features of Tailings 2.0
Here are five key-features that constitute the core of Tailings2.0
- Uncertainties exist both on the probability and the consequences of events. They enter the analysis by using ranges based on the state of knowledge at the moment of the deployments. These can change during the life of the system (see updatable below).
- Convergent means that all hazards potentially present, i.e. technical, man-made, natural, etc. enter in the aggregate risk evaluations.
- Scalable means that the structure of the risk register allows the addition of new projects, elements, developments.
- Updatable means that at any time the values of probabilities and consequences as well as their respective uncertainties may update to deliver a new risk landscape of the portfolio.
- Drillable means that data can be retrieved using various queries. For example: which are the highest risks within the portfolio generated by potential earthquake, or an other hazard?
Benefit in quantitative risk assessment coupling with Space Observation
The are many benefits in linking multi-temporal objective Space Observation with a dynamic convergent quantitative risk assessment platform. That is true in many industries and particularly in mining projects and operations.
The two pronged approach enables us to “measure” and give a sense to a complex problem. It allows to:
transparently compare alternatives,
discuss rationally and openly the survival conditions, or to
evaluate the premature failure of a structure.
Connecting a dynamic quantitative risk analysis platform with a high performance data gathering technique reduces costs, avoids blunders, constitutes a healthy management practice, especially for long-term projects requiring short or long term monitoring including, of course, site restorations.
Tailings and Mine Waste TMW2018 Short Course: Tailings 2.0
You are in time to register for the Tailings and Mine Waste TMW2018 Short Course: Tailings 2.0.
We can give corporate courses custom tailored to you needs and covering sectoral (Tailings systems) or corporate spectrum (ERM).
Contact us or visit the conference website (link) to learn more.
Tagged with: Risk Management, Strategic risk tailings dams, Tactical risk tailings dams
Category: Consequences, Mitigations, Probabilities, Risk analysis, Risk management, Tolerance/Acceptability