Consumer trust, consumer experience and risk management A recent article by Michael Lowenstein indicates that customer trust “is the connective tissue that holds customers, brands, and enterprises together; and, without trust, these connections would quickly dissolve.” Over the last few years Riskope have spent a lot of R&D funds and efforts to study the relationship between public perception of risks, risk assessments and crises developments, coming to the same conclusions. If trust is not built through at least: transparent and rational risk assessments,…
Read More
We present our next endeavor: Course on Rational Risk and Crisis Management in Kuala Lumpur. This course is suitable for anyone who is involved in process hazards, risk quantification and preparation of 360 degrees, holistic, ISO 31000 compliant Risk Assessment for business, operations, projects. You can see the brochure and registration information here. Course on Rational Risk and Crisis Management in Kuala Lumpur The methodologies introduced in this course will greatly benefit money lenders, insurers in addition to corporate managers,…
Read More
Sustainability Assessment Protocol and Operation Risk Awareness and Preparedness Rating offer the subject to an interesting discussion. One of the challenges of Risk Assessments lies in defining proper metrics for the consequences of hazards hits. When the Risk Assessment bears on a well-defined facility, the task is relatively easy. Easier than if the study bears on large and multifaceted systems exposed to risks. Among these, for example copper theft or information warfare at national scale, or, similarly, if we are…
Read More
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…
Read More
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…
Read More
The New ISO 31000 Risk Management Principles and Guidelines’ comes at the end of a four-year development period, during which up to 60 experts, representing 30 countries, worked within an ISO international technical committee. The ISO 31000 Guidelines are designed for a wide range of risk management practitioners, experienced or novice, and for those responsible for risk management oversight who are interested in benchmarking their risk management organisation and practices against a recognized international reference. ISO 31000 describes voluntary risk management…
Read More
Now it’s time to test the Risk and Crisis Evaluation Methodology we published back in 2008 on the BP Gulf of Mexico spill. We originally presented the methodology in our book (F. Oboni & C. Oboni, Improving Sustainability through Reasonable Risk & Crisis Management, 2007). Risk and Crisis Evaluation Methodology Let’s start with the probability of the spill. At Riskope we: are not oil experts, so can only assume that this accident, that various voices in the media declared as…
Read More
quantify reputational risk The Basel Committee is getting closer to asking firms to try to quantify reputational risk and at Riskope we consider it absolutely feasible. Indeed, in the probability-cost of consequence plot (i.e. the “risk space”) reputational risks can be easily added (they come as costs multipliers). These two presentations: Pres1 and Pres2 contain information from our courses and book related to adding reputational components to standard risk assessments and risk based decision making. This type of analyses can…
Read More
