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A discussion of the latest COSO paper on the development of organizations’ resilience to risk.

COSO recently published a thorough PAPER. COSO paper on the development of organizations’ resilience to risk is intended to help foster new dialog between boards and senior executive leadership as they partner to more fully develop their organization’s resilience to risk. We think the paper does address the critical issues, however: 1) it lacks a Glossary, thus it may be misinterpreted by readers that have not been educated in risk. 2) as a consequence of 1), some terms (for example “risk tolerance”)…

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Can we quantify reputational risk? Basel Committee is getting close to asking this.

quantify reputational risk The Basel Committee is getting closer to asking firms to try to quantify reputational risk and at Riskope we consider it absolutely feasible. Indeed, in the probability-cost of consequence plot (i.e. the “risk space”) reputational risks can be easily added (they come as costs multipliers). These two presentations: Pres1 and Pres2 contain information from our courses and book related to adding reputational components to standard risk assessments and risk based decision making. This type of analyses can…

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Risk Based Decision Making in Mining Webcast

Risk Based Decision Making in Mining Webcast This Risk Based Decision Making in Mining Webcast course is the perfect alternative for busy professionals! Attend these live sessions from your workstation at home or in the office. Prior to the course you will have access to online e-learning material which will increase your understanding and appreciation of the webcast. This course also contributes to your Continuing Professional Development (CPD)! Summary This course introduces a unified transparent approach to risk and crisis management…

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Crisis Forecast One Year Later

On 14-15 Sept 2008 Lehman Brother went down in flames. In the aftermath of Lehman Brother crash we published on internet a forecast of the crisis “duration and magnitude”. Interestingly, only a handful of contacts asked us clarifications and to give details on the scale of consequence we had used (is it linked to stock markets? To financial indicators?)… May be, no one believed that reasonable predictions can be made? As we were publishing our prediction, we were indeed already…

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New flu: Tora! Tora! Tora! may not be the best way.

New flu and Smoky souvenirs The man in front of me was very elegant, had impeccable manners, if only he had been smoking less. His corner office in the Tokyo HQ of his corporation, was indeed slowly delivering to its occupants, including me, an unbreathable cocktail of fine dusts and nicotine-tar loaded particles that probably still stains my lungs today. We had been discussing how my company (Riskope) could deliver to his organization emergency planning, crisis management in that difficult time,…

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Short Courses

On April 14th 2010 Franco is invited to give a half-day long short course at a mining conference in Santiago de Chile. More information here (in Spanish) Similar short courses (customized to your company’s needs) can be organized world-wide, or you can opt for a remote-education solution, as explained here (in English). In February 2010 there will be a 3×2.5hrs webcast by Cesar and Franco, organized by Edumine, from Vancouver. Let us know if you are interested. Examples of courses…

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One world, 16 common human traits

As a Risk & Crisis Manager working all over the world supporting corporations, governmental agencies and individuals in their decision making and alternatives selection process we have learned that we, human beings, share very strong and significant common traits, 16 common human traits, despite the apparent huge differences contributing to make our world such a colorful and wonderful place. We are neither psychologists nor sociologists, so we will leave the discussion related to the origins of these common traits to those specialists.…

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Long term risk mitigation plans at country wide scale can be measured

Humanity’s risk profile is changing Long term risk mitigation plans at country wide scale can be measured. The elements of humanity’s global risk equation, which already seem, also thanks to media and informational pressures, to describe an ascending and worrisome trajectory, will change radically in the future (Financial Times, 2007). Among these changes we can cite: Some parameters of change Global climate change (natural hazards). The intensity/magnitude, probability and annual distribution of many natural hazards may change because of global…

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