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Kiss Approach To Risk Based Decision Making

Who doesn’t have to make decisions? Private decisions? Job related/business decisions? No matter your age, position, job, we all have to make decisions almost on a day to day basis. Decisions alternatives, even the straight forward ones, often have hidden/secondary effects, and most of the time are made more difficult by our perception, sentimental values etc. Large corporations sometimes use highly sophisticated procedures to support their decisions on capital expenditure, investments, processes, and yet, oftentimes, they realize afterwards that the…

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STOP PROCRASTINATING! NPV IS DEAD: USE RISK AS A KEY DECISION PARAMETER.

A case study taken from our day to day practice, is presented to show: a) how risk can be used as a key decision parameter and b) how the commonly used Net Present Value (NPV), can create distortions and biases when analyzing reclamation (or other) alternatives. A Case Study is presented to show that risks should be used as a discriminant parameter from the beginning of any project for successful long term planning and to manage rational decisions. CDA/ESM has…

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Saving Lives by Mitigating Risks along Roads and Highways

Eurosain (European Road Safety Institute) is devoted to Saving Lives by Mitigating Risks along Roads and Highways through pertinent application of hazard control/elimination and risk management of existing roads/highways and new road/highways projects. The Eurosain approach is road-safety-methodology-and-analysis and codes, and applies to developed countries as well as underdeveloped or developing countries which unfortunately bear an increasing and intolerable toll from road and traffic accidents. Saving Lives by Mitigating Risks along Roads and Highways Like for many hazards (including deseases and…

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Comparing Projects by Using Riskope’s CDA/ESM (Comparative Decision Analysis/ Economic Safety Margin)

Introduction The aim of the CDA/ESM methodology is to enable communities, governments, design groups, corporations etc. to compare and evaluate projects in a transparent and objective way. The ultimate goal is of course to limit the chances of poor decisions, ruinous choices and industrial fiascoes when comparing projects or alternatives. Projects whose comparison/evaluation is amenable to the proposed methodology include, but are not limited to: Industrial processes (including information, IT & IP protection etc.) Civil infrastructure (buildings underground, above ground)…

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A Classic Riskope Lecture Content

Classic Riskope Lectures content deal with Crises and Emergency Management by using numerous examples drawn from Oboni Riskope Associates Inc. day to day practice. As an introduction, reference is made to Fortune 500 surveys clearly indicating the supremacy of proactive, vs. reactive, corporations, yet showing that only a minority of the surveyed enterprises actually had a proactive stance. In the first part of the lecture, the Los Frailes Dam Failure (mining industry) and the Ford-Firestone tire separation (automotive-supplier) crises are…

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CDA / ESM Comparative Decision Analysis & Economic Safety Margin

The Comparative Decision Analysis Economic Safety Margin CDA / ESM™ methodology has been developed by Riskope International and is used to compare project alternatives in financial terms, including: life’s cycle balance including internal and external risks over a duration selected by the client, project implementation and demobilization costs and risks. The methodology is a vital element of a Risk Based Decision Making (RBDM) approach in alternative / project / investment selection based on solid economic concepts, exempt of the well know…

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The Cure to Risk Management Syndromes

The cure to Risk Management Syndromes includes six points. The cure to Risk Management Syndromes In a well managed organization hazard specialists should define the hazards, their magnitude, and to a certain extent, with facilitation, the likelihood of a strike. Then a Risk Manager will determine the risk posed by these hazards, after helping to evaluate probabilities and potential consequences of the hazards hitting the system. Finally he will deliver a risk estimation in a clear and transparent way. He…

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Rational Methodologies for Land Mines/Unexploded Ordnance Contaminated Land Release or Clearing Decision Making

 RECENT UXO/MINE CLEARANCE FINDINGS Over recent years, the community working towards the aims of the Anti-Personnel Mine Ban Convention (APMBC) has begun to struggle with fundamental questions related to the efficiency of clearance efforts and the need to release land in countries facing strong demographic and social pressures (Jordan Times, 2004). Rational Methodologies for Land Mines/Unexploded Ordnance Contaminated Land Release or Clearing Decision Making. A series of studies on Lao PDR found that physically cleared ground more than 292 km2 was…

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