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Probabilities inconsistencies in a Risk Management Framework

Can you detect Probabilities inconsistencies in a Risk Management Framework ? While performing a Risk Management Functions Audit we were asked to review the following Probability-Annual frequency categories. Cat Probability Annual Frequency 5 >95% More than once per year 4 50 to 94% At least once every other yr 3 20 to 49% Once every 2 to 5 years 2 5 to 19% Every 5 to 20 years 1 <5% Less than once every 20 yrs The values of the…

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Cadia tailings facility failure expert review and risk considerations

Cadia tailings facility failure expert review and risk considerations allow us to discuss InSAR application and low seismicity considerations for pre-failure risk assessment. The Cadia Ridgeway Mine failure was already the object of a preliminary discussion in the immediate aftermath of the unfortunate event. These themes are very important and are present in our forthcoming book Tailings Dam Management for the Twenty-First Century What Mining Companies Need to Know and Do to Thrive in Our Complex World By Franco Oboni and…

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Riskope’s new book Tailings Dam Management for the Twenty-First Century

Riskope’s new book Tailings Dam Management for the Twenty-First Century is in print. This book is based on over thirty years of world-wide consulting experience, relentless methodological research and development, prior books, courses, seminars delivered to corporate key stakeholders, public and governmental agencies, public hearings, expert witnessing in civil and criminal courts, and over fifty technical papers. Its purpose is to identify and describe risk assessment approaches and risk management practices mining must implement to develop a positive path forward. That is…

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Evacuating Grenville-sur-la-Rouge is a good decision but maybe not the right one

Evacuating Grenville-sur-la-Rouge is a good decision but maybe not the right one. Indeed, when performing Risk Informed Decision Making (RIDM) a distinction must be made between right decisions and good decisions. A bit of background of on Bell Falls Hydro Dam Reportedly, the officials stated that: “we’re running about 940 cubic metres per second, and they predict it could go up as much as 1300 cubic metres per second. The dam was designed for a maximum one-thousand-year flood of 960…

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A decade of physical risks generated by industrial systems hacking

A decade of physical risks generated by industrial systems hacking is featuring a remarkable and worrisome acceleration. Indeed, it all started, as far as we know, with the crippling Stuxnex worm attack on the Iranian uranium refining centrifuges. As the title clearly indicates, we will not discuss here the devastating attacks on administrative systems, data repositories, but focus on industrial systems. What is going on Successful hacking on industrial systems seemed to remain “isolated exploits” for a long time. For…

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Innovation in Dams Screening Level Risk Assessment

For some reasons Innovation in Dams Screening Level Risk Assessment feels like an oxymoron. At each new accident organization like MAC produce a new edition of their manuals, for example Developing an Operation, Maintenance, and Surveillance Manual for Tailings and Water Management. The new editions generally represent a strengthening of some rules, but the result is always very similar to the prior edition, does not address systemic failure to properly evaluate risks of old and new facilities. Let’s tackle fundamental…

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Aluminum maker ransomware attack

The recent Aluminum maker ransomware attack is a timely example for our next speech at infonex’s Cyber and Operational Risk Management in Vancouver B.C. Riskope will present Fostering Sustainability and Value Through Convergent Risk Assessments at it. Riskope’s presentation will discuss holistic and convergent approaches. Indeed, as shown by this latest attack, cyber, natural and man-made hazards generate risks that cannot be tackled by siloed approaches. Indeed: Cyber risks are not only an IT issue, thus convergent approaches are needed. Cyber attacks can generate…

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Leadership boosting competitiveness with data driven decision making

Leadership boosting competitiveness with data driven decision making occurs when risk assessment databases, risk data are well structured and ready to advanced analyses. It is then possible to carry out risk triage, bundling and develop mitigation road-maps. We have discussed at length in earlier blogposts the steps necessary to develop a quantitative, convergent, updatable risk assessment. How to start risk triage, bundling and develop mitigation road-maps To perform a solid quantitative risk assessment you should have in your hand: a)…

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