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Evolution of Risk Management and Risk Managers

Twenty years ago positions like “Risk Manager” were held by a “glorified secretarial”. We remember some senior corporate officers calling Risk Managers: “the insurance guy”! Indeed an Evolution of Risk Management and Risk Managers has occurred in twenty years! Twenty years later, lots of pain and efforts have brought the Risk Manager to V.P. level in many companies around the world. Many Risk Management Societies and non profit organization in the domain of risk management, claim, we believe rightly so,…

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Protecting Critical Infrastructure Against Cyber-Attacks

Riskope gave a talk on Protecting Critical Infrastructure Against Cyber-Attacks. The venue was in Switzerland, at the Geneva Dialogue 16th-17th of April 2012. That conference was indeed geared toward Protecting Critical Infrastructure Against Cyber-Attacks. The general theme is Critical Infrastructure Protection, Resilience Enhancement, Strategies for the Future. Participants came from Canada, China, various European countries, Mexico as well as the USA. Risk Management: steering your organization through difficult times Riskope presented “Risk Management: steering your organization through difficult times”. The…

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Resilience: A new buzzword? Discussing the differences between risk and resilience improvement studies.

Discussing the differences between risk and resilience improvement studies. Let’s start by asking ourselves if our book « Improving Sustainability through Reasonable Risk and Crisis Management (Oboni F., C. Oboni,, ISBN 978-0-9784462-0-8, 2007) could instead bear the title “Improving Resilience through Reasonable Risk and Crisis Management “? First of all let’s note that some authors rightly consider and explicitly state that Risk Assessment/ Risk Management are the first step towards a resilience improvement study, and remain at the heart of…

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Résilience: Une nouvelle expression à la mode? Discussion sur les différences entre les études de Risque et de Résilience.

 Commençons par nous demander si notre livre Improving Sustainability through Reasonable Risk and Crisis Management, F. Oboni, C. Oboni,ISBN 978-0-9784462-0-8, 2007 aurait pu s’apeller «Improving Resilience through Reasonable Risk and Crisis Management»? Notons d’emblée que certains auteurs considèrent que Risk Assessment/Risk Management sont le premier pas vers une étude de Résilience, et restent au cœur de toute tentative d’accroitre la Résilience d’un système. Notons aussi que les méthodes que Riskope déploye depuis des années auprès de nos clients couvrent les risques…

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Avoid liabilities by using Optimum Risk Estimates

In one of our recent post we published a series of embarrassing questions that could arise in Court if you had used PIGs risk matrix…here is how to Avoid liabilities by using Optimum Risk Estimates and you would reply if you had used ORE instead. Questions and replies on ORE use 1) So, on which basis did you decide that the probability of the event was “medium” , and more importantly, how did you evaluate the probability of the events? By…

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Is it true that PIGS can fly?

Is it true that PIGS can fly? Despite their notoriety, Risk Matrices 5×5, Probability-Impact Graphs (PIGs), “Heat Maps”, have critical and potentially damaging intrinsic problems. That’s what Oboni Riskope Associates Inc. have learned thanks to two decades of Risk Assessments for extremely interesting and unusual projects awarded by a number of forward thinking clients. Is it true that PIGS can fly? When looking at Risk Assessments of operations, plants and even networks, we can affirm that PIGs (we will use…

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Arbitrary selections in Risk Management are a liability.

We can see a day when a case will be challenged in court against a company that used Probability Impact Graphs (PIGs risk matrix) for their risk assessment. The questions that could be asked will be horribly embarrassing and very damaging to the PIGs risk matrix’s user. Likely, they will tend to prove that the approach constituted a professional negligence. Perhaps due to the breach of Duty of Care. Indeed Arbitrary selections in Risk Management are a liability. A preliminary list…

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Our judgements are clouded by prejudices and misconceptions.

Our judgements are clouded by prejudices and misconceptions. Indeed, we humans often assess the probability of an event by asking ourselves if there are “cognitively available” examples. Those are readily available through memory as Kahneman (Nobel Prize in Economics) and Tversky demonstrated in a series of papers published between 1971 and 1984. Among those papers the most popular is likely the one entitled “Prospect Theory”,1979 quoted at page 212 in our book. Availability heuristic The phenomenon highlighted by Kahneman and…

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