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Biasing, censoring and confusion in risk approaches

This conversation between a client and Riskope illustrates common biasing, censoring and confusion in risk approaches. We always warn our clients against biasing, censoring to avoid corporate blunders and make them aware of common practice costly confusion. We hope this example will help fostering good understanding of some issues. An interesting conversation with a agro-industrial client During a kick-off discussion with an agro-industrial client interested in risk management, they stated: “As to the risk management issue, we will focus on…

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ORE2_Tailings integrated platform for Tailings Dams risk analysis and portfolio prioritization

ORE2_Tailings integrated platform for Tailings Dams risk analysis and portfolio prioritization is unique, proven and offers great advantages for its users with great economy of means. Following past experience ORE2_Tailings is based on an integrated approach including: A symptom driven approach which includes 30 diagnostic points covering “the dam’s life” of from inception to the analysis date. A rock-solid benchmarking based on hundred years history of failure and on a theoretical general approach to the evaluation of the probability of…

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How to bounce back from the Responsible Mining Foundation grim report with sustainable actions

How to bounce back from the Responsible Mining Foundation grim report with sustainable actions is a response to their statement: “Too often, workers, mining-affected communities, governments and investors are kept in the dark about the risks involved and how well companies are addressing these risks. Companies may be reticent to publicly reveal this potentially detrimental and sensitive information, yet it is workers and communities whose lives and livelihoods depend on adequate protection measures being in place”. Mining needs methodologies for…

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Perform operational, tactical and strategic planning avoiding limbic brain traps

We taught MBA students how to Perform operational, tactical and strategic planning avoiding limbic brain traps. During the MBA held at the Turin Business School we ran three exercises geared towards that goal. The exercises 1. A risk assessment on personnel flights This one had the goal to enhance awareness on the need to define the system and the success criteria. It took them a while to formulate the success criteria. Before they did they were considering all possible hazards…

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