Riskope 5 day course on Risk and Crisis Management for top managers and key personnel. The Answer to specific requests. Riskope were indeed recently asked to provide a comprehensive five day course addressing Risk and Crisis Management, Risk Based Decision Making, Project Evaluation for top managers and key personnel at Investment Banks, Oil & Gas, Energy and Transportation. Riskope 5 day course on Risk and Crisis Management for top managers and key personnel. Although companies willing to commit the resources…
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Our clients beat the trends. We are proud to contribute to their leadership. This blogpost discusses this issue. The trigger lied in reading a Deloitte’s report. As a matter of fact, we read with a lot of interest Deloitte’s report entitled: Tracking the trends 2011, The top 10 issues mining companies will face in the coming year. The issues We summarize below the issues highlighted in Deloitte’s report: 1 Financing 2 Volatility 3 Stakeholders engagement 4 Taxes, regulations and governments…
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Risk Based Decision Making We would like to show you two examples of Phase I Risk Based Decision Making. Phase I means that a preliminary decision is made based on Risk Prioritization alone. That is without financial comparative evaluations of the alternatives using CDA-ESM. In other words without evaluating the long term cost of the alternatives including upside and downside risks. When users include risks in long term cost estimates they refer to the procedure as risk adjusted cost The…
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Today we discuss how to rationally select among alternatives in long term projects with CDA-ESM. This post is companion to the already published: How to get the most out of (Vegetable) Waste Oil for your Small or Medium Business. How to rationally select among alternatives in long term projects with CDA-ESM CDA-ESM can help you to select the best option. CDA-ESM is about rationally select among alternatives in long term projects with CDA-ESM. We use an ”average sized” fast food restaurant…
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Easy way to defining probability Countless times we have heard “…but we have no statistics!” or “statistics cannot be gathered for this specific topic!”, with the usual conclusion that a proper risk assessment cannot be performed because of the “lack of statistics”. We think this is a good excuse to avoid looking at reality with a better eye, and, unfortunately the result of Statistics and Probabilities being taught usually at the same times in schools. Probabilities and Statistics Probabilities and…
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Enhancing Efficiency and Efficacy When Enhancing Efficiency and Efficacy we often confuse efficiency and efficacy. Efficiency corresponds to an operation with a high result-versus-costs ratio, for example results vs. energy, time, and money. Efficacy characterizes an action with the power to produce an effect. Efficiency means doing as good a good a job as possible. Effectiveness means getting a result by doing the right job. Reportedly neither efficiency nor efficacy rank very high in the Humanitarian Programs industry, one that…
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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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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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