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A modern Risk Manager and an Engineer have a heated discussion about FMEA/PIGs, common practices and what a rational and transparent quantitative risk assessment should encompass

A modern Risk Manager and an Engineer have a heated discussion about FMEA/PIGs. The dialogue below is an excerpt of the course entitled “Risk-Based Management Of Tailings, Waste Rock, And Heap Leach Facilities” that Riskope and Jack Caldwell (Robertson Geoconsultants) are co-writing for Edumine. Risk Manager and an Engineer have a heated discussion about FMEA/PIGs, and risk matrix 5×5 The dialogue format is used as a “literary device” to allow the reader to hear different “voices” from the industry and…

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Social Acceptability criteria, winning-back public trust require drastic overhaul of risk assessments common practice

Social Acceptability criteria, winning-back public trust require drastic overhaul of risk assessments common practice Riskope was present at the MineWaste2013 Conference in Banff (Nov. 3-6, 2013). Riskope presented a paper (Factual and Foreseeable Reliability of Tailings Dams and Nuclear Reactors -a Societal Acceptability Perspective). The paper compares “historic” rate of failure (major accidents only) of tailings dams and nuclear reactors world-wide to well known, previously published technical and societal acceptability criteria. We quantitatively compared the risks (focusing on casualties consequences…

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Is it possible to quantify the social perception of an industrial accident risks? Lesson from the Mont Blanc highway tunnel fire tragedy.

Is it possible to quantify the social perception of an industrial accident risks? In a recent research study we used the Mont Blanc Tunnel 1999 tragic fire accident as an example. The aim was to illustrate the concepts of social perception quantification. This approach could be applied to any accident, in any industry, while developing a holistic risk assessment. The research paper we have crafted discusses how a risk assessment could have been carried out before the accident. It examines…

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Risk Factors in Car Insurance Premium Calculations

Risk Factors in Car Insurance Premium Calculations This feature was Contributed by Jamie Englert from Carfinance247.co.uk When determining the amount of your auto insurance premiums, insurance companies normally use what is commonly referred to as risk factors. In insurance terms, risk factors simply refer to the likelihoods of the driver being involved in an accident. In addition to establishing the number of times you are likely to make claims, risk factors are also used to establish the amount the insurance…

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World War II, survivor bias and risk based decision making

World War II, survivor bias and risk based decision making During World War II bombers crews knew their chances of coming home were extremely low because of anti-aircraft and enemy interception. Airmen were described as “Ghosts already” by the historian K. Wilson. The Air Force asked a panel of scientists, engineers and statisticians to develop a plan to enhance the chances of success of air missions, which in the mind of the military was equivalent to reinforcing the planes, building…

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A risk view on Amulets and Talismans

A risk view on Amulets and Talismans Since the beginning of time humans, single individuals or groups, have looked to protect themselves against disease, physical and moral pain, hazards and any potential damaging events. Among the variety of “protections” developed since ancestral times amulets and talismans have played a major role. Amulets (lucky charms) are passive protections often made of natural materials: minerals, plants or animal parts. Talismans are active protections. The etymology of the word talisman shows an arabic…

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Modern Implementations of Risk and Crisis Management

Riskope will present in Toronto a three days course, September 23-24-25, for industries, money lenders and insurers Capitalize on expert knowledge to gain maximum value on these vital issues: IDENTIFY risks that really matter and have the potential to disrupt your business. CONVINCE money lenders that your business will be sustainable in a world of shrinking credits. DISCOVER issues that could lead to crises, possibly hampering your growth. PINPOINT threats that are lurking in any commercial contract, ready to bite…

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Implementaciones modernas de manejo de crisis y riesgos

Riskope presentara un curso en español para industrias, entidades crediticias y compañías de seguros en Santiago, Chile los días 12 y 13 de septiembre 2013 Capitalice un conocimiento especializado para obtener el máximo valor en estos asuntos vitales: IDENTIFIQUE los riesgos que realmente importan y que podrían afectar su negocio. CONVENZA a las entidades crediticias de que su negocio será sostenible en un mundo de créditos cada vez más limitados. DESCUBRA problemas que podrían llevar a una crisis y tal vez…

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