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- Today, we look at what happens when Common Cause Failures impact Risks. Common Cause Failures impact Risks defined Common cause…
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Projects, operations, and corporations around the world have incurred in major losses. This alone shows that common risk management practices leave organizations widely overexposed to risks. In fact, hose common practices use 4×4 or 5×5 risk matrix devices. However, thoughtful analysis and planning could reduce, mitigate, or avoid those over-exposure. Thus we collectively refer to risk matrix as “PIGs” , or Probability Impact Graphs.
Your free copy of “What You Need to Know About Risk Management Methods” presents the benefits and limitations of common risk management methods, including Risk Matrices, Probability Impact Graphs and Heat Maps. However, to be constructive, it also discusses Optimum Risk Estimates (ORE), a proprietary methodology by Riskope, the result of twenty years of R&D and continuous development.
To date, ORE have been applied by Riskope to waste systems, supplies ingress & products egress studies, environmental risk assessments and finally cyber-defense programs. ORE prioritization is consistent, unambiguous, and provides context for better understanding of an organization’s risks.
Also, in November 2016 Riskope’s principals have authored a book chapter. The title is The Long Shadow of Human‐Generated Geohazards: Risks and Crises, Geohazards Caused by Human Activity, Prof. Arvin Farid (Ed.), InTech. You can read it and freely download it here.