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Tailings Systems and Dams: ORE (Optimum Risk Estimates) help making better decisions and to avoid misleading the public

Tailings Systems and Dams: ORE (Optimum Risk Estimates) help making better decisions and to avoid misleading the public. At Riskope (www.riskope.com) we are very proud of releasing our presentation at the Mining 2012, Keystone (CO) Conference. Tailings Systems and Dams: ORE (Optimum Risk Estimates) help making better decisions You can see and download the presentation for free here Riskope’s presentation at Mining 2012, Keystone (CO) Conference.

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Talking with People about Risks

While Talking with People about Risks it is not uncommon that people ask me what I do for a job. Once I tell them I am a Risk Management Consultant they ask: “do you work on financial risks?”. I generally reply that if they mean risks linked to banks I do not. However I quickly point out thar at the end of the day all risks are financial! If a lightning takes down the electric substation and your factory is…

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Financial Impacts and Risks Due to Sick-Leaves at a Swiss Luxury Watchmaker Factory.

The CFO of a client of ours, a Swiss Luxury Watches company, called the other day in a panic. He told us: “I have heard from a guy who works in the World Health Organization in Geneva which deals with Health around the World that this year is going to be the year of a severe flu pandemic. I need help in evaluating potential financial impacts due to sick-leaves”. It was not to us to discuss whether the scenario of…

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Missing the “big picture consequences”

The Italian Ministry of Health received a study from the National Institute of Health.  The study is entitled “Sentieri”. It shows that in the city of Taranto, Italy, there was a 10% mortality increase in the period 2003-2008 with respect to the general Italian average rate. Taranto is heavily contaminated, in particular by a large foundry. The trend reportedly confirms previous analyses, covering the period of 1995-2002. Those revealed mortality profile of the resident populations in sites belonging to the national list of…

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Risk Managers are retiring. Corporations have to fight the brain drain or be faced with over-exposures to risks.

Risk Managers are retiring. Corporations have to fight the brain drain or be faced with over-exposures to risks. Because the retirement of a corporate risk manager might be the source of critical exposures. It is actually a significant risk per se: one with a high likelihood (everyone ends-up retiring), and potentially large consequences. Only well planned proactive actions can mitigate it. Indeed Risk Managers are retiring. Corporations have to fight the brain drain or face over-exposures to risks. Risk Managers are…

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The devil is in the details.

“The devil is in the details.” explore what shortcuts in risk management leads to exposures and potential liabilities. We all love rounding numbers, i.e. “erasing the decimals” by pushing the value up or down to the nearest, or more pleasing, integer. When we let our “esthetics sense”, or our will to influence our audience, dominate, we will merrily jump way more than the decimals and come out with “media friendly rounded” values such as “one million people came to the…

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Italian coal miners’ strikes

Had I realized what a life in mining would be like, I’d have head for the hills, rather than become entrenched in it. I was rather surprised to find the mural painting above. It came together with text translated above in italics. It was  on the front wall of a house in Orgosolo, in the mountain of Sardinia, one of the main islands of Italy. A few days after I took the picture, workers at the last Italian active coal…

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Riskope will present at the Enterprise Risk Management (ERM) and Operational Risk half-day event

Riskope will present at the Enterprise Risk Management (ERM) and Operational Risk half-day event planned in Edmonton, AB, on Oct 12, 2012. Riskope will present at the Enterprise Risk Management (ERM) and Operational Risk half-day event Riskope’s talk will discuss Optimum Risk Estimates (ORE), as described in here (of course in Edmonton we will present a “non-mining” application). Riskope’s ORE allows to: Avoid the pit falls that lead to failed Risk Management implementations Build and design a robust ERM program Gain…

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