Dam portfolio risks—a few definitions aims to bring clarity on terms definitions that oftentimes remain shrouded in mystery. Risk Framework Risk analysis frameworks provide a methodological basis for establishing a transparent and defensible evaluation of the risk generated by a given dam and/or portfolio of dams. They can be qualitative, semi-quantitative or fully quantitative. The framework is essentially a repeatable evaluation scheme which may rely on: quantification of expert judgment, subjective probabilities, empirical/statistical observations or probabilistic models (Stamatelatos et al.…
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Engineering anthropogenic global change is loaded with implicit Anthropocene ethical and geoethical issues to an unprecedented level because of: demographic pressure and the raise of public opinion, thanks to the emergence of the blogosphere. Part of perceived complexity stems out of bad analytical habits Because of: non-linear dynamics and perceived or real complex feedbacks and apparent chaotic dynamics many claim our anthropocenic systems are difficult to forecast and non-intended and counter-intuitive system behavior is likely. In our experience, however, it…
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Disappearance of corporate information silos effects In 2014 we stressed in various posts how risk management has to encompass asset management. That’s a concept embraced by ISO 31000 and ISO 55000. It seems that ISO is also finally recognizing that QMS (Quality Management Systems) and information silos are incompatible. Moreover certainly not independently from Risk Management. Therefore ISO puts clear emphasis on Risk-based management. It should help to consider issues, determine risks and opportunities, define actions to address the risks, and…
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Project Risk Management The best ROI from Risk Management comes if it is conceived as a continuous support of a project from cradle to grave. It does not matter if the project is an acquisition, a strategic shift the board of directors envisions, a process change or some capital expenditure for an existing operation/infrastructure. The support includes of course scheduling and budgeting risk assessment. If the support starts at pre-feasibility level, the return on investment is the highest. However, we…
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Optimum Risk Estimates, ORE and Aerospace Applications Smaller satellites are becoming frequent in the so called era of the “nano satellites”. Canada, for example, using an Indian launcher placed simultaneously into orbit, a little more than one year ago, four satellites. Indeed, the drive to miniaturize has been a recurring theme in the space industry for size and weight translate directly into the cost of getting a satellite off the ground (setting into orbit one tonne of equipment costs approximately…
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Business Intelligence, Asset Management and Risk Assessment Based Decision Making Today, more than ever, planners and decision makers are held accountable for outcomes often appearing to be beyond their control, generated by decisions made by others, which were made in different times and socio-economic, industrial and legal environments. Complex and interdependent systems are difficult to grasp and understand. Business systems have become overwhelmingly complex and interdependent and it is often difficult to gain clear understanding of their elements and operating…
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Teaching Risk and Crisis Management. What has changed In a few months Riskope will celebrate another important anniversary. In 2012 we celebrated two decades of risk and crisis management, decision making support and consulting. In spring 2014 we will reach fifteen years of specialized courses and seminars on the same subject. As we found in our archives the Table of Content of the course we were giving at University of British Columbia (continuous education) UBC in 1999 we decided to…
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GeoMontreal 2013 is pleased to offer a choice of full-day short courses as part of the official conference program. Modern Implementations of Risk and Crisis Management in Geotechnical Engineering by Riskope at GeoMontreal 2013 is a short course to be held Sunday, September 29, 2013 at the Hilton Bonaventure. Modern Implementations of Risk and Crisis Management in Geotechnical Engineering: Riskope at GeoMontreal 2013 Riskope’s course will bring much needed methodological and practical answers to anyone involved in evaluating and prioritizing risks…
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