UNEP Tailings Dams report and residual risk assessment discusses the joint UNEP-GRID Arendal assessment entitled “Mine Tailings Storage: Safety Is No Accident” from a risk assessment point of view. The United Nations Environment Programme (UNEP) released the report in October 2017 in Geneva. The report urges States and the industry to “end deadly and damaging mining waste spills by enforcing a zero-failure objective”. We believe that this objective requires some additional definitions and details. That is to make it truly…
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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,…
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Mitigate the Risks linked to Employee Failure with Improved Recruitment and Selection Riskope thanks Lindsay Edwards for this contribution Many companies aroud the world consider the hazards linked to employee recruitment and retention as very significant. Here are some tips that will help you mitigate the risk linked to employee failure. Understand the need This involves optimizing job specifications and also being sure that you have a proper understanding of your business needs before you commence the recruitment process. The…
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North China early-warning system for quakes North China has seen violent seismic activity, including an 8.2-magnitude earthquake in 1976, killing more than 242,000 people in Hebei, Beijing and Tianjin. That event was one of the deadliest calamities in human history. China started to pay attention to early earthquake warnings after the 8.0-magnitude Wenchuan earthquake, which killed nearly 70,000 people. Many countries, including Japan, Mexico and Turkey are equipped with early warning systems. A real-time system can give warnings within seconds…
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We gave a presentation in Toronto. We were at the CIM 2013 conference and the topic was Can we stop misrepresenting reality to the public? The discussion was of course set in the risks related to mining and extractions. Summary of the main points The main points made are summarized below. You will not: manage (your) capital if you do not understand risks. be able to make proper decisions if you do not understand risks and finally, able to operate if…
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2012 marks the 20th anniversary of Riskope’s active service in the international Risk and Crisis Management arena with Strategy, Leadership and Success in Personal and Organizational Development. Although we exist, in one form or another, since 1988, our companies drastically evolved from Engineering to Risk and Crisis Management with the acquisition of a series of very unusual jobs in the early 90s. It appears now that those jobs were the tipping point of our evolution, as summarized by the following images.…
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Risk perception, corporate prestige, psychological factors are important sources of irrational decisions. Roughly ten years ago we were invited by a very famous and prestigious European Railways company to give a seminar to top management. NB: the company name is covered by confidentiality and we have also slightly altered the story to further protect the identities of the implied parties. European Railways companies are “state owned” enterprises. Thus their Boards generally have c-suite who either are administration veterans or politicians.…
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Every morning, day after day, we see rough market data, large volatility, brutal drops, sudden heaves. Some companies are seeing the market capitalization play yo-yo several times a week, if not daily. For example: Dendreon Corp.’s shares fell 69% in less than two minutes in April 2009 followed by an after hour rally. Diebold Inc., June 2nd , share price plummeted more than 30% in six seconds, before shooting back up Dendreon & Diebold shares most likely have been “victims”…
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