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Riskope’s Methodology

Riskope’s Methodology: ORE (Optimum Risk Estimates)

A systematic approach to risk considerations in decision-making and management support is paramount: RBDM and RIDM

Especially when various layers of uncertainties surround alternatives, projects, operations, Risk Based Decision Making and Risk Informed Decision Making are paramount. That’s because decision-makers need to understand the:

  • assumptions made allowing to discuss and audit the evaluations.
  • uncertainties surrounding the decision,
  • probabilistic future behavior (evolution)
  • benefits of updating risk information during the life cycle of the system, finally,
  • benefits of a scalable (from “high level” to detailed operational, no information wasted) risk analysis system.

As a result, the ORE (Optimum Risk Estimates, ©Oboni Riskope Associates Inc.) approach needs to cover:

  • physical losses (human and assets)
  • business interruption (BI)
  • environmental damages and, finally,
  • reputational damages and crisis potential.

Balangero asbestos waste dump

Leading companies are turning to quantitative convergent, scalable enterprise risk management (ERM) methods in order to understand the consequences of potential business risks. That is because these approaches allow them to make informed decisions about how to prevent, manage, and mitigate impacts.
As an independent firm, Riskope delivers an impartial, third party evaluation of risks through  a quantitative convergent, scalable enterprise risk management (ERM) method called ORE (Optimum Risk Estimates ©Oboni Riskope Associates Inc.). Our knowledgeable, senior professionals are fully engaged in all aspects of each project to provide clients with tailored attention, not pre-packaged studies.

Click here to download our White Paper entitled What You Need to Know About Risk Management Methods.

Risk Management Services Stepped approach

In order to carry out their studies Riskope develop, within the ORE framework, a Step by Step Quantitative Risk Assessment Framework (QRAF) approach encompassing Six Steps.
Finally, a series of graphic representation (dashboards) and other communication means agreed upon with the client deliver the results. This approach delivers the image of the full risk landscape of the system under consideration (corporation, project, operation, agency, national system, etc.)

Riskope's Methodology

Scheme of the ORE (Optimum Risk Estimates) continuous process. Scalable and drillable from cradle to grave for any project, alternative, operation.

Risk is quantified by gathering reliable data and information from public and private sources. This information is then modeled and analyzed, incorporating extensive experience-based knowledge, to determine probable outcomes. We have developed our proprietary analytical models (ORE) for over twenty years. As a result we can customize them for each client.

ORE dashboard where it is possible to understand:

  • what are the most critical sources of threats to the company,
  • which products and which hazardous sectors generate the largest potential losses. We split losses by type: physical, BI, environmental, etc.). We look, for example, where the highest logistic risks are and even, finally, to
  • the distribution of media vulnerabilities within several divisions (projects, alternatives, operations, etc.) of a same company.

Riskope's Methodology

While all of Riskope’s work is tailored to meet the unique requirements of each assignment (Water Treatment Plant, Startup), chances are we have done work that is similar to your needs. Thus we can provide you with an example of our work while respecting confidentiality. Contact us – we are here to help.

Our case studies provide a flavor of our approach. Indeed the case studies showcase the support we provide for informed decisions that preserve enterprise value. The case studies are organized by Industry Sector and Risk Hazard.

ORE applications exist in “off the shelf” format and are custom tailored to the specific needs of each client. Examples include:

ORE applications seamlessly integrate with the ORE-ERM framework and include specific algorithms for the evaluation of events’ probabilities and multi-dimensional consequences, risk tolerance and special aggregation of risks. ORE applications and ORE-ERM solve important questions that will save you and your company aggravation, scrutiny and pain. Contact us to learn more.

 

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