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Doing a Risk Assessment on your business is great, but where should you stop?

Doing a Risk Assessment on your business is great, but where should you stop? On March 4th 2015 a chemical fire fueled by trichloroisocyanuric acid from a container forced hundreds in Vancouver’s downtown core to stay indoors and triggered partial evacuation in the city. On April 8th 2015 Vancouver woke up with at least least 2,700 liters of “bunker fuel” spill in its bay. On April 16th a fire broke at Squamish Terminals deep-water port in B.C. Those three events…

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More questions raised by Probability Impact graphs common practice

More questions raised by Probability Impact graphs common practice is all about the lack of logical robustness of the 4×4 or 5×5 risk matrix approaches. We oftentimes see PIGs risk matrix (probability impact graphs) based “ERM binning exercises” being presented where the scale of the graph (generally the consequence axis) is adapted when going from operational to corporate level. This practice certainly does not help a rational approach to strategic, tactical, operational levels and raises several questions. More questions raised by…

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A risk perspective on the concerns raised by the liability of hauling dangerous goods

A risk perspective on the concerns raised by the liability of hauling dangerous goods Riskope thanks Federico Sasso for participating to this research during his summer 2014 internship. The recent Trichloroisocyanuric acid fire event in Port Metro Vancouver raised again concerns related to hauling dangerous goods, immediately reinforced by a new series of crude derailments in Canada, US. It is a topic that we are familiar with since Riskope have performed many risk assessment, and calibrated emergency response plans for…

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Mount Polley Discussion. Closure.

Mount Polley Discussion. Closure. So, a lot has been said, a lot will be saidon the Mount Polley Discussion. Closure., and written (here and here ). But for the moment, let’s try to close the discussion with a figure we have been using in our courses on Risk and Crisis Management for over a decade. It shows Risk Reduction vs. Investment in mitigation, acceptable levels and development of public outcry in case of accidents.  No Laws, codes stipulate the acceptable…

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Mount Polley Dam Breach: discussing Tailings Dam Failure Frequency and Portfolio Risk. Continued

Mount Polley Dam Breach: discussing Tailings Dam Failure Frequency and Portfolio Risk. Continued Mount Polley Dam Breach: discussing Tailings Dam Failure Frequency and Portfolio Risk. Continued. The mandate given to the expert panel forced them to consider all failures “equal”. Thus the risk equation became the simple expression of the probability of failure.  We have discussed how tolerance and risk engineering would apply to large portfolios of dams and other critical infrastructures. We also expressed our opinion in the aftermath…

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Follow up to: “accidents’ consequences can lead to diverging societal impacts: where lies the difference?” and “Metaphoric description of risks and their perception”

This blogpost is in follow up of Identical single accidents’ consequences can lead to diverging societal impacts and similarly, the Metaphoric description of risks and their perception. Nuclear Reactors: Let’s look at some accidents types, i,.e. c1, c2, c3. c1: Class 5+ accidents (Fukushima, Tschernobyl, Kyshtym disaster, Windscale fire, Three Mile Island accident, First Chalk River accident,  and Lucens partial core meltdown) were likely to be interpreted as Sword of Damocles metaphor, but would likely be Medusa now. c2: Nuclear Waste storage can be…

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Mining Risk Management Functions Audit

Mining Risk Management Functions Audit Mining Risk Management Functions Audit help your risk assessment do all what you want. Would you like to: rationalize the sizing of insurance coverages? understand extant inter­dependencies within and outside your system? Finally, receive a unique management road­map with a unified approach to 360°­risks, including environmental, reputational and cyber risks spanning over your entire system? Mining Risk Management Functions Audit The replies to those questions should be the direct result of your risk assessments. However, if your…

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Hazmat trains travel across the country since railroads exist…what are the risks

In follow-up of this post. Hazmat trains travel across the country since railroads exist…what are the risks? Accident b1) Each year various accidents occur, limited casualties occur, they are reported in local to national media, as “minor” accidents. For example CN train hauling dangerous goods derails near Clair, Saskatchewan or the two Union Pacific locomotives hitting head on, in Hoxie, Arkansas. Accident b2) One major, catastrophic accident occurs, a vivid one with “unthinkable” consequences (Lac Megantic, for example) Hazmat trains travel across…

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