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Investing-in, Lending-to or Managing a Corporation: to what extent does the point of view influence the ERM decision making process ?

In this post we will see to what extent does the point of view influence the ERM decision making process. We deploy the ORE (Optimum Risk Estimates, (C)Riskope) methodology. We want to enable the comparison of Management and Corporate decision making at ERM (Entreprise Risk Management) level. We selected ORE because common practice risk assessment techniques lack the acumen to enable the discussion to proceed. Common practice risk assessment techniques include methods such as FMECA, FMEA, Probability Impact graphs, etc. To…

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Can we stop misrepresenting reality to the public?

We gave a presentation in Toronto. We were at the CIM 2013 conference  and  the topic was Can we stop misrepresenting reality to the public? The discussion was of course set in the risks related to mining and extractions. Summary of the main points The main points made are summarized below. You will not: manage (your) capital if you do not understand risks. be able to make proper decisions if you do not understand risks and finally, able to operate if…

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Non esiste progresso senza errori

Riskope ringrazia Luca Calderan per questo suo contributo. “Il successo è la capacità di passare da un fallimento all’altro senza perdere l’entusiasmo.” (Success is the ability to go from one failure to another with no loss of enthusiasm)  Winston Churchill  Con queste parole si potrebbe cominciare il ragionamento di oggi su un argomento che è spesso fonte di angoscia e di vergogna nel panorama italiano: la possibilità di sbagliare e l’importanza dell’errore.  Spesso vi è infatti una credenza diffusa e…

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No failures, no progress.

A British engineer, named Pugsley, said in 1966 that “a profession that does not make mistakes is a profession that does not progress” (Pugsley A.G. 1966, The Safety of Structures, Edward Arnold Publishing ltd, London). In his pioneering book on the safety of structures, Pugsley related that fighter pilots in WWII went up against the enemy even when there was a high chance of being shot down. However, the same pilots demanded design changes if the structural failure rate of…

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Maths make things simpler, rather than more complicated, bring clarity.

A discussion on LinkedIN entitled “Does anyone use Standard Deviation, Variance or similar measures to prioritise risks” prompted a reply we are now posting on the blog for our interested readers. It’s a bit technical, but it shows that maths make things simpler, rather than more complicated, bring clarity! Talking about clarity, let’s remember that the context of most of our work at Riskope is in downside risk, in various industries. When we refer below to “Consequences”, we are referring…

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From Bottle to Throttle: risks to the aviation industry from chemical dependency

Riskope thanks Evelyn Ramsey for this interesting post entitled From Bottle to Throttle: risks to the aviation industry from chemical dependency. From Bottle to Throttle: risks to the aviation industry from chemical dependency. indeed, worldwide, the aviation industry is one of risk management, health and safety. This global industry operates in an environment of extreme caution. Notwithstanding this, there have been approximately 150 cases of intoxicated pilots which have come to light over a period of 12 years. From Bottle…

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Real life ISO 31000 compliant quantitative transport alternatives risk assessment example.

Riskope was contacted by a client to develop a Real life ISO 31000 compliant quantitative transport alternatives risk assessment example. The study was going to be used to support the decision among possible personnel transportation alternatives running between a country’s capital city and a remote operation.   Real life ISO 31000 compliant quantitative transport alternatives risk assessment example. The operation had run a shuttle bus service for its personnel from and to the capital city for a decade with no major bus…

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L’Aquila earthquake verdict explained from Risk Crisis Management point of view

Data for this “L’Aquila earthquake verdict explained from Risk Crisis Management point of view” summary have been gathered through media and publicly available records. Details we consider “irrelevant”  for this discussion on L’Aquila earthquake verdict explained from Risk Crisis Management point of view have been omitted because of space limitations. We will start this post by summarizing the tragic tale of L’Aquila, a city featuring many historic public buildings and centuries old residential structures located in Italy, a country where retrofitting of…

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