In our courses we always introduce the Threat from and threat to concepts because they apply to risk assessment and risk management. Oftentimes engineers and technical people have a “facility-centric” approach. This means they see the facility they are studying as a potential source of hazard exposures. In mining, this means looking for example at the pit or tailings as the sources of hazards to “the environment”. Thus, oftentimes the analysts see the facility as generating threats to the population,…
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Risk Assessments Strategy and Strategic planning is inspired by a book entitled Strategy for Executives. In that book strategy is defined as “a compendium of deliberate choices that an organization makes to maximize its value over a given period of time”. Defining Strategy and meaning of risks We like the book’s dynamic definition of strategy. Moreover, it fits very well with our definition of strategic risks which derives from the use of explicit risk tolerance thresholds in the ORE methodology.…
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Your neighbor’s (third party) operational hazards can generate risks requiring a strategic shift. We live in a complex interconnected world which generates interdependencies some times very difficult to detect/understand. Interdependencies are of different kinds: physical, geographical, logical, cyber. Your neighbor’s (third party) operational hazards can generate risks requiring a strategic shift. Here are some examples of interdependencies The US Pentagon mistakenly sent live anthrax to at least nine labs in the US and to a US military base in South Korea…
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