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India dam break Facebook and fake news

India dam break Facebook and fake news finds its inspiration in a series of very recent events. Very unfortunately one of them, the Rishiganga dam collapse (https://www.bbc.com/news/world-asia-india-55969669), was mortiferous.  World-wide water storage structures are ageing A report by UNU-INWEH,  Ageing Water Storage Infrastructure: An Emerging Global Risk, provides an overview of the phenomenon. Indeed tens of thousands of existing large dams have reached 50 years of age. In addition, many others will approach 100 years. For instance, UK has the…

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The eternal confusion between tailings hazard and risks

A comment to a blogpost on tailings failures inspired this comment on the eternal confusion between tailings hazard and risks. Some voices are rising to state that the real number of tailings dams on the planet is around 35,000. Based on that number they then engage in a biased risk discourse. Indeed, we think those arguments are misleading and not helping the cause of tailings risk reduction. Let’s discuss why. The true number of tailings dams on the planet The number…

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Convergent risk assessments

Convergent risk assessments integrate areas that are significant to an organization, such as operational risk generated by various hazards or compliance, within a single framework. In the meantime, convergent risk assessments suppress informational siloes and therefore tend to explicitly tackle systemic interdependencies. Convergent risk assessment A convergent risk assessment looks at a silos-free system where: physical, informational geographical, and finally logical risk information converge in a single platform. Convergent risk assessments have to be holistic by definition. We discuss the definitions…

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Foreseeability and predictability in risk assessments

The discussion of terms such as Foreseeability and predictability in risk assessments is rather common. Like usual, at Riskope we like to have an extremely clear glossary, in order to avoid blunders due to miscommunication. Foreseeability and predictability in risk assessments Foreseeability is the facility to perceive, know in advance, or reasonably anticipate that damage or injury will probably ensue from acts or omissions. A foreseeable event or situation is one that can be known about or guessed before it…

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Act of God in probabilistic risk assessment

We define an Act of God in probabilistic risk assessment as an event with a probability of occurrence below the general consensus for credibility. In other words it is an unbelievable event that is supposed to be unfathomable “God’s will”. We can quantify probabilities down to certain frequency levels. As a matter of fact, in our day-to-day practice we consider events probabilities as follows: down to 10-5 as credible, between 10-5 and 10-6 as poorly credible, and finally, below 10-6…

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Holistic Geoethical Slopes’ Portfolio Risk Assessment in Geological Society

We are proud to publish Holistic Geoethical Slopes’ Portfolio Risk Assessment in Geological Society, London, Special Publications, 508. We want to personally thank Giuseppe Di Capua of IAPG for inviting us. Here is a summary of what we discuss in our paper Landslides of natural and man-made slopes, including dykes and dams represent hazardous geomorphological processes that generate highly variable risks. To optimize a slope mitigation approach, one has to combine the probability of failure and the cost of consequences…

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Tactical and strategic planning to mitigate divergent events

Tactical and strategic planning to mitigate divergent events is one of the themes of our next book. The term divergent does not yet appear in our glossary, as we are preparing its fourth edition. Stay tuned for the announcement of its publication. In short, hazards or exposures become divergent when they part from long term averages and “usual extremes”, both in terms of frequencies and/or magnitude. For example, a hundred-year rain event that occurs three times in a short interval…

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Comments on KPMG survey about third party risk management

We just read KPMG’s Third Party Risk Management outlook 2020 and today we will pitch in comments on KPMG survey on third party risk management . Risk integration We discuss what its conclusions mean in terms of practical risk assessment and Enterprise Risk Management (ERM). At Riskope we started integrating third parties risks in ERMs and risk assessments twenty years ago. We note that in the grand scheme of things third party may also mean neighbors. Of course, defining the limits…

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