ALE, FMEA, FMECA, qualitative methods: is it really what we need!? discusses the evaluation of systems’ failure. An array of methodologies exist. Among these the are Failure Mode and Effects Analysis (FMEA) and the Failure Mode and Effects Criticality Analysis (FMECA). Many Risk Assessment use Annual Loss Expected (ALE) as a metric for impact or consequences. Impact analysis of every potential defect on functionality The essence of FMEA/FMECA is the impact analysis of every potential defect on functionality of the…
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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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Well, all along our professional life of Risk and Crisis Management consultants and coaches we have been confronted with clients that expressed themselves with statements like: “well, you know, this kind of stuff only happens to others”, generally followed by “we are too small, … too large, too smart, too powerful”, etc. Relentlessly we have kept our stance: crises are foreseeable, crises can be as costly as a natural disaster or a major accident, the public IS THE JUDGE, and…
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A poll has helped to identify what "post economic downturn" Risk and Crisis Management courses should present to students and industrial/financial professionals looking to empower themselves with the latest on the subject. Courses can be brought through different channels directly into corporations/institutions, and Riskope has a cooperation agreement with another company to provide the full spectrum of Risk education, including banking specific knowledge.
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