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Why Legal Negligence Test is not a Critical Test for an Operation?

Why Legal Negligence Test is not a Critical Test for an Operation ? Isn’t that an interesting question to discuss? Many recognize that, in its simplest form, Risk= (probability of a hazard occurring) x (Cost of consequences of the hazard hitting) The definition is available in Hiromitsu Kumamoto and Ernest J. Henley, Probabilistic Risk Assessment and Management for Engineers and Scientists, 2nd edition (New York: Institute of Electrical and Electronics Engineers, Inc., 1996), p. 2.). Therefore a company-wide risk can…

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Toma de decisiones basada en el riesgo con ejemplos concretos y reales (Estudios de Casos)

Este curso presenta un enfoque transparente y unificado para la gestión de riesgos y crisis, y analiza la relación entre los riesgos financieros y no financieros. Se trata de la evolución de los enfoques cualitativos y cuantitativos en la evaluación de riesgos, la forma de presentar los riesgos de una manera clara y transparente, y cómo utilizar su programa de gestión de riesgos para obtener el máximo valor para Usted y su empresa. También se presenta la gestión de crisis,…

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Prise de décisions basées sur les risques avec exemples concrets et réels (Etudes de Cas).

Ce cours présente une approche unifiée et transparente de la gestion des risques et des crises, il explore le lien entre ce qu’on appelle les risques financiers et les risques non financiers. Il couvre l’évolution des approches qualitatives et quantitatives dans l’évaluation des risques, la façon de présenter la prise de risques d’une manière claire et transparente, et la façon d’utiliser votre programme de gestion des risques pour obtenir une valeur plus sure de votre entreprise. Ce cours présente également…

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Operation Risk Awareness and Preparedness Rating (ORAPR)

Operation Risk Awareness and Preparedness Rating (ORAPR) is a simple form following a multiple choice questionnaire format, to be filled by a key person or a committee well informed about the management practices and controls driving the company, division, operation, project to be evaluated. The benefits for the evaluated entity are considerable: the Operation Risk Awareness and Preparedness Rating (ORAPR) constitutes a very fast, easy, repeatable and inexpensive approach revealing global strengths and weaknesses of the management and leadership of…

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Two real life examples of Phase I Risk Based Decision Making

Risk Based Decision Making We would like to show you two examples of Phase I Risk Based Decision Making. Phase I means that a preliminary decision is made based on Risk Prioritization alone. That is without financial comparative evaluations of the alternatives using CDA-ESM. In other words without evaluating the long term cost of the alternatives including upside and downside risks. When users include risks in long term cost estimates they refer to the procedure as risk adjusted cost The…

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BP Crisis Rational Analysis: What BP Did Not Perform?

  Now it’s time to test the Risk and Crisis Evaluation Methodology we published back in 2008 on the BP Gulf of Mexico spill. We originally presented the methodology in our book (F. Oboni & C. Oboni, Improving Sustainability through Reasonable Risk & Crisis Management, 2007). Risk and Crisis Evaluation Methodology Let’s start with the probability of the spill. At Riskope we: are not oil experts, so can only assume that this accident, that various voices in the media declared as…

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A few comments on a recent paper entitled “Not up in the air. Risk-management lessons from the volcanic ash cloud”, pubished by economists.com on April 20th

A few phrases from the paper named Risk-management lessons from the volcanic ash cloud are copied below in italics, then commented: …Conventional thinking about risk management holds that risks are mainly local and routine—that it is possible to list all the negative events that could happen, determine their probability based on past experience… Risk-management lessons from the volcanic ash cloud Two common wrong behaviors are indicated in the phrase above: 1) risks to be included in a risk assessment are not…

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How to rationally select among alternatives in long term projects with CDA-ESM

Today we discuss how to rationally select among alternatives in long term projects with CDA-ESM. This post is companion to the already published: How to get the most out of (Vegetable) Waste Oil for your Small or Medium Business.  How to rationally select among alternatives in long term projects with CDA-ESM CDA-ESM can help you to select the best option. CDA-ESM is about rationally select among alternatives in long term projects with CDA-ESM. We use an ”average sized” fast food restaurant…

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