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Tactical and strategic planning to mitigate divergent events

Tactical and strategic planning to mitigate divergent events is one of the themes of our next book. The term divergent does not yet appear in our glossary, as we are preparing its fourth edition. Stay tuned for the announcement of its publication. In short, hazards or exposures become divergent when they part from long term averages and “usual extremes”, both in terms of frequencies and/or magnitude. For example, a hundred-year rain event that occurs three times in a short interval…

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similarities between psychology and risk assessments

The ability to distinguish between different terms is a prerequisite for the acquisition of accurate knowledge, including loss prevention knowledge. Without this capacity, confusion is virtually inevitable. More generally, several words and concepts in loss prevention underscore the necessity of acquiring a specialist vocabulary making fine differentiation among seemingly related but conceptually distinct concepts. As you probably noted the paragraph above is not our writing style. As a matter of fact we only have slightly adapted the conclusion of a…

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Risk related definitions to avoid risky confusions

Yes, we know, the title of this post: Risk related definitions to avoid risky confusions sounds a bit like a joke. However, we can assure that complying to these definitions  will save you and your company time, money, limit liabilities and reduce chances of litigation.   At the beginning of Summer we pointed out  there is still major confusion even in basic definitions of risk and uncertainties. Also that occurs not only within a single industry, but, even worse, across…

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Hazard identification. Is it a science or an art?

In risk management terms, forecasting the future relies on Hazard identification. Is it a science or an art? Please notice we are talking about hazard identification and not risk identification for a very specific reason. We want to avoid confusion and enable proper analysis. Others, following for example General Motors’ journey to establish a Risk Sensing function, take a short cut and try to identify risks. What can go wrong is a hazard. Hazards have consequences and the hazard-consequence couple is a…

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Geohazards Caused by Human Activity

INTECH published The long shadow of Human Generated Geohazards: Risks and Crises, our chapter in the book entitled Geohazards Caused by Human Activity! The wait is over! You can freely download the text here .  We sincerely hope you will enjoy it. Please drop us a note and let us know your comments on the chapter. Geohazards Caused by Human Activity Our chapter in geohazards caused by human activity is geared toward focusing attention on the “damage and risk” side…

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The Long Shadow of Human Generated Geohazards: Risks and Crises

The Long Shadow of Human Generated Geohazards: Risks and Crises is the title of a chapter  by C. Oboni & F. Oboni of the book entitled Geohazards Caused by Human Activity (ISBN 978-953-51-4765-7, Arvin Farid, Ph.D., P.E., Associate Professor Civil Engineering, Boise State University, Idaho, USA, Editor). The book is due to be e-published soon by Intech with the goal to provide free online access to research. The Long Shadow of Human Generated Geohazards: Risks and Crises The purpose of the…

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COSO Aligning Risk with Strategy and Performance

COSO Aligning Risk with Strategy and Performance, dealing with public exposure, appeared in June 2016 within the frame of Enterprise Risk Management. COSO Aligning Risk with Strategy and Performance We have read with enormous interest the document which very eloquently explains the benefits of ERM and its interactions with business strategy, operations, etc. Defining Risk and Uncertainty We started balking when we arrived at the section entitled “Defining Risk and Uncertainty”. Not because of the general concepts, but because of…

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A solution to “Tech-Speak”, technical risk words, and obscure definitions in Risk and Crisis Management

In order to find  a solution to tech-speak, technical risk words, and obscure definitions in Risk and Crisis Management, when we wrote our Book we also inserted a Glossary. A solution to Tech-Speak, technical risk words, and obscure definitions in Risk and Crisis Management Please refer to it if you want to make sure about the meaning of any term you will find in this blog and Risk and Crisis Management information sources. The definitions in the Glossary are “generally…

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