October 2022 - Riskope

Three cases where quantitative risk assessment was paramount

Oftentimes we hear people objecting to quantitative risk assessments (QRA). Thus today we show three cases where quantitative risk assessment was paramount. Now, do not get mistaken, those are not the only cases where QRA is useful. However, they are particularly significant. Risk review of a mining mega project New projects are always exciting. Therefore their promoters oftentimes get emotionally attached to them to the point of forgetting that they may be exposed to significant risks. The use of codes…

Tailings risks correlations

Tailings risk correlations or lack thereof refers to a phenomenon we oftentimes encounter in ORE ERMs deployments in various industries. The risk bubble in the p-C graph The figure below shows a classic simplified result from a ERM. The quadrant is the probability (p), Consequence (C) quadrant with the addition of the risk tolerance band. The band has a width corresponding to the divergent opinion between optimistic and pessimistic key stakeholders on tolerance. A given hazard has uncertainties on both…

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Three cases where quantitative risk assessment was paramount

Tailings risks correlations

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