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COSO Aligning Risk with Strategy and Performance

COSO Aligning Risk with Strategy and Performance, dealing with public exposure, appeared in June 2016 within the frame of Enterprise Risk Management. COSO Aligning Risk with Strategy and Performance We have read with enormous interest the document which very eloquently explains the benefits of ERM and its interactions with business strategy, operations, etc. Defining Risk and Uncertainty We started balking when we arrived at the section entitled “Defining Risk and Uncertainty”. Not because of the general concepts, but because of…

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3 reasons to follow our course at Tailings Mine Waste 16

I can think of at least 3 reasons to follow our course at Tailings Mine Waste 16 (TMW2016): a)“Bring Your Own” approach. If you “present a case (make it anonymous to respect confidentiality)”, we will discuss it and propose a road-map to solve the Risk Assessment in the most efficient way (subject to time availability, number of requests, suitability). You will be tapping into more than 20 years of quantitative risk assessment experience on dams, but also on tailings systems…

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Does Pokemon Go add new risks?

Does Pokemon Go add new risks? In real life? Or in virtual life? The new location-based augmented reality mobile game that is taking the world by surprise certainly seems to generate a lot of opinions. We have read and heard many people saying that Pokemon Go adds new risks, but is it really so? And what risks? As usual people are quick to jump the gun and immediately make blanket statements about risk associated concepts. So we have dissected the…

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geohazards probabilities frequencies and insurance denial

Geohazards probabilities frequencies and insurance denial In the anthropocene insurers are facing “new” challenges when insuring against Geohazards. That is true especially for those caused by Human activity. Indeed geohazards probabilities, frequencies and insurance denial constitute a bundle. Insurers have realized that, because of the dynamic evolution, the usual actuarial point of view faces significant challenges and can be misleading. The indiscriminate use of Force Majeure and Insurance denial to protect themselves is actually detrimental to their business and their…

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Business Intelligence platform helping Tailings Stewardship

Business Intelligence platform helping Tailings Stewardship Tailings systems are complex systems. We study them for a single operation as well as for entire portfolios of  mining companies, within the framework of a Tailings Stewardship Program. A Business Intelligence platform can indeed integrate all data related to climatology, water balance, contaminants, phreatic levels, topographical movements, construction at the front-end of the risk assessment. Indeed a Business Intelligence platform helping Tailings Stewardship to decision making in regards to monitoring and implementation of mitigation…

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Past present future tailings dams behaviour

Three papers we have published in the past three years deal with Past present future tailings dams behaviour. Here we propose a summary and our conclusions. Past present future tailings dams behaviour summary Past tailings dams behaviour At TMW 2013 (Oboni, Oboni, 2013) we attempted an estimate of the rate of failure of major tailings dams failures and to compare their risks to human life to well known social tolerance. We started by clearly stating the limitations of the available…

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Comparing water treatment processes lifetime risks using ORE

Comparing water treatment processes lifetime risks using ORE Comparing water treatment processes lifetime risks using ORE (© Riskope) offers unique advantages to owners, regulators and the public. As a matter of fact: ORE is a convergent quantitative risk assessment methodology. Convergent means that ORE looks simultaneously at all hazard sources. Thus it avoids pitfalls common in “silo-ed” approaches . It also covers a wide spectrum of hard and soft consequences (direct, indirect). ORE is scalable, meaning that it can follow a…

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1 way to reduce the number of Due Diligence blunders (DD) in Mergers & Acquisitions (M&A) and other transactions

In this post we look at the 1 way to reduce the number of Due Diligence blunders (DD) in Mergers & Acquisitions (M&A) and other transactions. Due Diligence Due Diligence (DD) is ubiquitously considered to significantly contribute to informed decision-making. That’s because it enhances the amount and quality of information available to decision makers to evaluate “all” costs, benefits, and risks of, for example, an acquisition, merger or an investment (Chapman, 2006). Due diligence definition is “reasonable steps taken by a…

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