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|Event:||Convergent Quantitative Cyber Risk Assessment to Optimize (Mining) Enterprise Reliability|
|Date/Time:||21/06/2018 - 12:00 pm - 1:30 pm|
|Location:||CIM MES, 3450 University St, Adams Building, Montreal, canada|
Convergent Quantitative Cyber Risk Assessment to Optimize (Mining) Enterprise Reliability
Information technology (IT) , Internet of Things (IoT), and spreading connectivity are bringing very significant benefits to mining, but increase the mining industry’s exposure to cyber criminals and possibly terrorists. This phenomenon is general and occurs in every single industrial, infrastructural and service space, not only in cyber risks in mining.
During the last decade the techniques and tools of cyber attacks have become more sophisticated, the distinctions between actors and threats have become blurred and attack prospects more worrying.
Reportedly at least one major mining company has been the target of a massive hack, but serious infrastructural damages have only seldom been inflicted, and not in mining (as far as we know), but in other industries. Indeed, given the rapid escalation in the number and sophistication of cyber attacks, infrastructural damages are to be expected “any time”. Any infrastructural damage, especially those with environmental consequences or harm to people, will lead to significant crisis potential, reputational damages and legal consequences. Cyber risks in mining oil and gas companies are a reality we cannot ignore.
Wide spectrum of threats and potential consequences
There is a wide spectrum of threats and potential consequences spanning across the various functions of a mining company. From management to production and logistics. It show that:
Broad spectrum protection investments and particularly poorly prioritized ones are not efficient. Indeed other operational requirements oftentimes limit their scope. So it is simply not possible to protect each property from each threat. The cyberdefense must find its roots in intelligence based on convergent prioritized Risk Management. Not on standardized audits and practice of indolent regulations. Or the biased advice of fear monger solutions sellers.
Encouraging information reports that, recently and in some cases, two-thirds of the overall capex on the cyber risk mitigation strategies was non-technology driven. The idea that cyber risk is not only an IT issue is finally sinking. This, however, does not necessarily mean the capex is allotted in the most efficient way at all, unless proper prioritization was performed and silo-culture is replaced by a “horizontal” thinking. And all of the above does not necessarily mean the integration of cyber risks in the ERM program.
Cyber risks in mining oil and gas companies are a reality. The deployment of an adequate siloes-busting convergent analysis methodology will eliminate capex squandering and increase overall enterprise reliability.
Risk Management offers ultimately support for operational decisions and protection (mitigation). That is, provided that we:
|Event:||SYMPOSIUM 2018 ROUYN-NORANDA MINES AND THE ENVIRONMENT|
|Date/Time:||18/06/2018 - 19/06/2018 - All Day|
|Location:||Centre des Congrès de l’hôtel Gouverneur de Rouyn-Noranda, Centre des Congrès de l'hôtel Gouverneur , Rouyn-Noranda,|
SYMPOSIUM 2018 ROUYN-NORANDA MINES AND THE ENVIRONMENT SUR L’ENVIRONNEMENT ET LES MINES
Riskope was asked to present a paper at SYMPOSIUM 2018 ROUYN-NORANDA MINES AND THE ENVIRONMENT SUR L’ENVIRONNEMENT ET LES MINES.
We are pleased to present below the abstract of the article we wrote with MDA for this event.
In this paper we demonstrate how Space Observation and Quantitative Risk Assessment synergy delivers value to the mining industry. The term Space Observation refers to a mix of radar and optical satellite image data, as well as specific algorithms. These constitute the input to a Quantitative Risk Assessment (QRA) platform. We describe a QRA platform capable of using that “Rich Data” context to deliver an enhanced, updated risk landscape of a project or operation. The QRA platform has to be updatable, scalable, drillable and convergent to maximize benefits.
This paper provides examples of specific applications this joint technology provides to miners.
The paper allows for better Risk Informed Decision Making, which in turn generates value.
The marriage of rich data context with an optimized risk assessment platform brings significant advantages to mining end-users, whether they are mining managers, tailings stewards, other key stakeholders, or the general public.
Preliminary quantitative risk off-line studies, using multiple data sources, deliver initial estimates regarding probability of occurrence of various failure modes, consequences of those failure modes, and preliminary alert thresholds. They also provide results that assist in the setup of emergency procedures.
Thanks to Space Observation technologies, it is then possible to confirm and gradually calibrate extant data. Then to validate old reports and their assumptions.
An additional key benefit comes from high resolution imagery. We can use it to rather inexpensively perform quantitative analyses of surface features, volume measurements, and other terrain calculations. Furthermore one can use these analyses to verify the volume of mass movements. Additionally one can analyze whether they are the consequence of man-made (construction) or natural (slides, displacements, erosion) hazards.
By virtue of this joint technology it is also possible to:
This allows to understand where projects or operations stand in term of risk mitigation at discrete and up to almost real-time pace, if and when required.