Impact of climate change projections on tailings dams survivability is the paper we presented at #CIMBC22 Climate Change and Tailings Management. The authors are M. Gloor, G. Halter, of Correntics (Correntics – we make global supply chains future proof) and Cesar and Franco Oboni. Image by TheOtherKev from Pixabay The session was brilliantly chaired by George Hemingway of Stratalis Three papers on Climate Change and Tailings Management Charles Dumaresq presented the protocols for climate change consideration in mining projects. The…
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Convergent quantitative Enterprise Risk Management on Divergent Risks is an extension of our recent discussion on business interruption risk profiles. The example we discuss is present in: our last book Convergent Leadership-Divergent Exposures Climate Change, Resilience, Vulnerabilities, and Ethics an article at CIM 2021 about Concentrate Transportation From Mine to Market is Critical to Mines’ Profitability Setting the scenario for Convergent quantitative Entreprise Risk Management on Divergent Risks Suppose a corporation owning and operating three chemical plants sends their products…
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Writing lessons learned in twenty years of hazard, risk and resilience analyses has been a difficult exercise for various reasons. We compiled and explain lessons learned in our practice of risk assessment and resilience advice to industries, municipalities and regional governments around the world in our latest book, Convergent Leadership – Divergent Exposures: Climate Change, Resilience, Vulnerabilities, and Ethics. However, the fact that we systematically apply our quantitative convergent approach (ORE, Optimum Risk Estimates) to all sorts of industries and…
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The title of our new book is Convergent Leadership Divergent Exposures. The manuscript was delivered to our publisher on March 1st 2021 and should be published by July 29th 2021. How will Convergent Leadership Divergent Exposures benefit you? Today’s corporate, industrial and government decision makers must address risks and hazards on a scale never before encountered. As a matter of fact, policy makers and managers face complex business-as-usual hazards, black swans and Acts of God that can lead to devastating…
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The Canadian Engineering Qualifications Board (CEQB) recently published a Risk Management Guideline for engineers. This post discusses some of the concepts and draws parallels with another upcoming publication. Our general comments on Risk Management Guideline for Engineers We saw a number of good points in the Guideline, for instance: a glossary, the clear call for hazard identification, some examples, and finally and perhaps more than anything, the fact it fosters engineers’ awareness for risks. We fully empathize with the desire to generate…
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Many clients are dealing with a conundrum at the cross between codes, resilience and climate change. Solving it is paramount for tactical and strategic planning purposes. Code compliance is not synonymous with resilience When facing good-old hazards that are becoming more frequent and more intense, perhaps due to climate change, it is easy to realize that code compliance becomes meaningless. Indeed, codes work for the “good old way”, both in terms of resilience and frequency. A code compliant solution may…
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Today we look at why climate risk and consequence overcost have common similarities. Have you ever been involved in a project whose final budget exploded due to consequence of apparently small, negligible schedule or material risks? Similarly, even thus we record small change in weather averages, big impacts are being noticed. Let’s find out why this happens. Probability of overcost vs. Likelihood of event Lets suppose the consequences of a risk scenario vary between 0 and 20M$ with an average…
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We explore today how insurance denial amid climate change will impact assets and other aspects of business. In particular, we think at fires like the Australian bushfires and Fort McMurray (Canada) fire in addition to increasing rains leading to flooding. These will undeniably be a ‘big drag’ on growth and have already generated invaluable losses to biodiversity. Furthermore, insurance denial will become a problem as we discussed back in 2016 and even as far as 2009. Insurance denial amid climate change…
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