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Why everything we know about Tailings Dams failure is wrong

If you think the title is provocative you are right. Why everything we know about Tailings Dams failure is wrong aims to discuss a different way of looking at TD failures. Biases occur if one uses statistical samples from a failure data base to evaluate TD likelihood of failure. That is because one considers the sub sample of failed dam as opposed to the overall inventory. Indeed if one ignores the base inventory one could draw misleading conclusions. Berkson’s paradox…

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Risk Management glossary update

We recently carried out a Risk Management glossary update. The reason for this update is the new book we will publish. Indeed, the book deals with a number of ongoing issues such as climate change, cyber attacks, ethics, and sustainability. These require us to define a series of new key terms. Where you can find the Risk Management glossary update You can browse through the Risk Management glossary update in its dedicated glossary page. There you can also download it…

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Ship blocked the Suez canal causing a six days business interruption

Recently the Ever Given Ship blocked the Suez canal causing a six days business interruption (BI). In the aftermath of the incident world media reported that never before a ship blocked in such a way the canal. They added “this is a black swan”, a usual preposterous statement. Many enterprises rely on third party companies for shipping goods. Approximately 10% of the global shipping volume goes through Suez Canal as the canal represent a shorter and safer route from Asia to…

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Neo-mythological risk animals

Various neo-mythological risk animals have caught the imagination of businesses and have had world-wide mediatic success. Unfortunately, sometimes even against their creators will, they generate a slanted image. Many use that image as it allows “iffy” constructs. Furthermore it offers an excuse for a classic human behavior. That is doing nothing and procrastinating. Let’s explain the point: black swans are defined by Taleb as “an unpredictable or unforeseen event, typically ones with extreme consequences” however they have been used and…

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