Archives

Archive

Boeing 737 Max 8 set in risk context

We will look at the recent tragedy of Boeing 737 Max 8 set in risk context. Media have produced numerous fascinating articles on the tragedy, its possible causes, and risk perception. One in particular made our eyebrows raise as it seems to come to astonishing conclusions based on ill-conditioned thinking. Ill-conditioned thinking in articles requires Boeing 737 Max 8 set in risk context We reproduce verbatim part of that article: To appreciate the psychology associated with these events, consider that in…

Read More

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…

Read More

Cultural Entropy and Risk Management

Cultural Entropy and Risk Management are intertwined. Cultural entropy is defined as the amount of energy in an organization that is consumed by unproductive work. It is also a measure of the friction and pent-up frustration occuring when potentially limiting values show-up in the workplace. It measures the level of dysfunction in an organization that is created as a result of fear-driven energy, silos mentality. Image by Monica Volpin. As you can see all of the above poorly affects good risk management.…

Read More

Point Read Operate for Tailings Dams design

Point Read Operate for Tailings Dams design discusses a well-known practice used in other fields. Indeed, if you traveled to Japan you certainly saw metro-trains operators pointing down the platform and calling out—seemingly to no one—as trains roll in and out of the station. Onboard it is much the same, with drivers and conductors performing almost ritual-like movements. If you were in the NAVY you will also remember the PRO method they teach for operating switches, valves, and basically anything.…

Read More

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)…

Read More

Biasing, censoring and confusion in risk approaches

This conversation between a client and Riskope illustrates common biasing, censoring and confusion in risk approaches. We always warn our clients against biasing, censoring to avoid corporate blunders and make them aware of common practice costly confusion. We hope this example will help fostering good understanding of some issues. An interesting conversation with a agro-industrial client During a kick-off discussion with an agro-industrial client interested in risk management, they stated: “As to the risk management issue, we will focus on…

Read More

How to bounce back from the Responsible Mining Foundation grim report with sustainable actions

How to bounce back from the Responsible Mining Foundation grim report with sustainable actions is a response to their statement: “Too often, workers, mining-affected communities, governments and investors are kept in the dark about the risks involved and how well companies are addressing these risks. Companies may be reticent to publicly reveal this potentially detrimental and sensitive information, yet it is workers and communities whose lives and livelihoods depend on adequate protection measures being in place”. Mining needs methodologies for…

Read More

Corrego do Feijao near Brumadinho Dam Failure

Our hearts are saddened to comment on the trajedy around Corrego do Feijao near Brumadinho Dam Failure. (Image: Portal R7.com | Twitter.) At this time we only have fragmentary data from the media. Thus we will focus on “peripheral” but very important concepts that seem to get lost in the aftermath of each new tragedy. These concepts emerged in the paper entitled A systemic look at tailings dams failure process, presented at Tailings and Mine Waste 2016, Keystone, Colorado, USA, October 2-5,…

Read More

Hosted and powered by WR London.