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Information systems and risk management

Information systems and risk management discusses the necessity to create a structured and holistic view on all corporate information. Therefore we look at and how the holistic view should relate to upside and downside risks. Information systems are the set of analytical applications geared toward preparing corporate or project system’s data for business analyses and support to risk informed decision making. Downside risk is the product of the probability of occurrence of a hazard by the cost of the undesirable…

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Cryptominers exploit miners vulnerabilities

Miners are under a new attack as Cryptominers exploit miners vulnerabilities. Programs that hijack computer resources to mine cryptocurrencies without permission are indeed a new threat in the list. In summary, the “old list” for miners reportedly encompassed for example: Ransomware, which holds a company’s data hostage until a ransom is paid. data leaks. worms that could break down equipement “a la” stuxnet focussing on the SCADA system. However, the real-life general list is way longer, as witnessed by a…

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Risk assessment, Social License to Operate and Corporate Social Responsibility

At Riskope we champion the idea that Risk assessment, Social License to Operate (SLO) and Corporate Social Responsibility (CSR) are strongly intertwined. It is part of our silo-breaking philosophy. Riskope’s builds risk assessments considering multidimensional consequences. These include “people” consequences, such as loss of quality of life. At the end of the day SLO and CSR are supported by enhanced transparency, clearer vision and distance themselves from a mere PR act, as people will identify more with the prospective realities.…

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Tailings dams quantitative risk assessment

Tailings dams quantitative risk assessment has to rely on proper evaluation of consequences and probabilities. The goal is to be able to economically and swiftly prioritize a portfolio of dams. That is in order to develop risk informed decision making for mitigation as also discussed in a recent blogpost. ORE2_Tailings app to evaluate probabilities ORE2_Tailings app is primarily addressing the needs of owners or regulators of dam portfolios. A dam portfolio may cover several extractive centers, several mining companies with…

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Risk analysis of dam break

Last week we focused on technical aspects of the Risk analysis of dam break. This week we go further by looking at societal tolerance and approaches. These may integrate ethical and economical approaches to these studies. Probability of failure and bench-marking of the case history dam A recent study of a tailings dam (centerline, rockfill, well investigated, built and monitored) using the ORE2_Tailings app delivered an estimate of the probability of failure. The result was pf in the 10-4 to…

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Consequences of tailings dams failures

Recent tailings disasters such as the failure of the Mount Polley and Samarco dams have focused the attention on the Consequences of tailings dams failures. Consequences of tailings dams failures: outflow volume and runout distance Classic approaches Various classic approaches (Rico et al., 2008, Azam & Li, 2010) assume that the volume of released tailings is a function of storage volume. Dam height intervenes, particularly for the runout distance preliminary evaluation. They find “statistical correlations” using a set of dam…

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Questions from a reader interested in risk assessment

We received a number of questions from a reader interested in risk assessment. After we replied we thought these questions may be of general interest, so, here they are, with their answers. General questions from a reader interested in risk assessment Q1: On your website you use acronyms such as FTA and ETA what are these? A1: Failure Tree Analysis (FTA), Event Tree Analysis(ETA) are tools used to evaluate the probability of failure and/or the development of complex events starting…

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Tailings management Geoethics considerations

Tailings 2.0 include Tailings management Geoethics considerations. Furthermore Tailings 2.0 fosters the link between a new way of tackling quantitative risk assessments and geoethics requirements in modern society. Tailings 2.0, the result of over twenty years of research and development, marries the requirements presented in the UNEP report and offers unparalleled support to independent risk assessors. The UNEP report identifies its requirement in distinct ways. For example by stating: “Establish independent waste review boards to conduct and publish independent technical reviews…

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