Contact

Blog + News

Key differentiators in Governance Risk and Compliance (GRC) landscape

21-02-2018

A recent report by Blue Hill Research discusses the Key differentiators in Governance Risk and Compliance (GRC) landscape. The report is entitled Four Components of an Enterprise Risk Reporting and Management Platform. The base of knowledge is analyses and research interviews with fifteen risk management executives. As far as GRC product functionality, the core components generally involve the following capabilities: Centralized data management Process and incident management Workflow management Automated monitoring and alerting and finally, Automated reporting. Depending on the…

Read More

Is Cyber Insurance the best tool to preserve corporate value?

14-02-2018

Is Cyber Insurance the best tool to preserve corporate value? That is indeed an appropriate question to ask as Cyber attacks seem to constitute major threats to businesses today. Cyber liability policies exist to indemnify and cover losses which may generate under an attack. However they generally include numerous exclusions and conditions. Contrary to natural hazards and many “classic” hazards the frequency of cyber attacks can be/is very high. Consider for example: quakes with frequencies in the order of one…

Read More

Geoethics, Theory of General Ethics and Risk Management

7-02-2018

Is it possible to link Geoethics, Theory of General Ethics and Risk Management to add value to our efforts? How can we integrate a risk assessment in ethics? What qualities should a risk assessment method possess to support ethical projects and endeavours? Kim Williams, a good friends of mine, let me a wonderful book by Warwick Fox entitled A Theory of General Ethics, Human Relationships, Nature, and the Built Environment (2006). The book is not easy to read. I was…

Read More

Oil and gas are also victims of risk matrix

31-01-2018

A recent paper entitled The Risk of Using Risk Matrices shows that Oil and gas are also victims of risk matrix. The paper analyses the widespread use of Probability Impact Graphs (PIGs, risk matrix) in Oil and Gas (O&G). It comes to very similar conclusions to those reached by other academics and practitioners and us! “Classic” Risk Matrices deficiencies Risk-Acceptance Inconsistency. The regions depicted in common practice PIGs (Risk matrix, Example 1 later on ) feature arbitrary stepped borders which…

Read More

Risk module in MBA course

24-01-2018

We just delivered the third edition of our Risk module in MBA course at the SAA (University of Turin, Italy, School of Management). Each time we roll out a new course edition we eagerly await the delegates’ reactions. This years we had in front of us a very active and brilliant group of professionals. Here are a couple comments at the end of the three days module: Angelo Costa, Ph.D., Head of Innovative IT Solutions Sales Department at TIM wrote:…

Read More

Oroville Dam Spillway Incident Report

17-01-2018

The Oroville Dam Spillway Incident Report became public in January 2018. The story it tells is remarkably similar to the one we assumed, based on publicly available information in the aftermath of the accident. As risk advisers and managers we discuss below the various statements in the Oroville Dam Spillway Incident Report. We aim at highlighting risk biases and potential management changes to avoid similar developments. Oroville Dam Spillway Incident Report Conclusions Commented The Independent Forensic Team Report made a number…

Read More

What is the validity of your risk forecast?

10-01-2018

When talking to potential customers we oftentimes hear “ What is the validity of your risk forecast? ” What they mean is actually “how precise” our numbers are. That type of questions generally comes from individuals that confuse risk assessment with divinatory arts. They do not recognize that performing a risk assessment is completely different than reading a crystal ball. Another common objection comes from people that claim that no one can evaluate probabilities of events because of complexities, etc.…

Read More

Archive

Vancouver Digital Creative Agency Ballistic Arts Media Studios.