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What M. Planck, G.B. Shaw and A. Rand have to do with Risk Management?

What M. Planck, G.B. Shaw and A. Rand  have to do with Risk Management? Max Planck wrote: “A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.” At Riskope belong to those who argue that the transition from faith and luck, which were two pillars, fortunately not the only ones, of planning/managing the future of…

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Why when approaching Strategic, Tactical & Operational planning one needs to know about Ostriches, Denial, and Prayers.

Strategic, Tactical & Operational planning While the world was feeling the aftershocks of the Great Recession, we wrote about 16 common Human traits when dealing with hazards and risks. Some of those 16 traits lead individuals and often their organizations to assume stances called Ostrich, Denial or Prayer, resulting in flawed Strategic, Tactical & Operational planning options and occasionally exposing them (and their neighbors, their environment, society at large) to significant hazards which could generate large unintended consequences, i.e. large risks leading to…

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Ethics in mining, oil and other natural resources fields

Ethics in mining, oil and other natural resources fields We participated in a debate on ethics in mining at CIM 2015 (Canadian Institute of Mining, Metallurgy and Petroleum). It was stated that more than any other industry, mining requires holistic approaches because impacts are indeed holistic. Interesting to note that when discussing about ethics everyone seems to accept the idea of holistic impacts, yet nobody objects to common practice risk assessments that most of the time censor and bias impacts…

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State of Practice for Tailings Management Workshop at CIM 2015 Montreal, Mount Polley Failure

State of Practice for Tailings Management Workshop at CIM 2015 Montreal, Mount Polley Failure State of Practice for Tailings Management Workshop at CIM 2015 Montreal, Mount Polley Failure summarizes part of the conversations and presentations which took place, as Riskope interprets them. The Tailings Management Workshop started with a Panel, Ministry, Legal and CIM, CAD positions’ review, in particular with respect to the tailings dam accident occurred on Aug. 4th, 2014, at Mount Polley, B.C., Canada. Incidentally, we reported immediately after…

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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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