risk landscape Archives

Big data or Thick data: two faces of a coin

Big data or Thick data: two faces of a coin which can be defined as follows. Big data (BIDA) is a term for large or complex data sets that traditional software has difficulties to process. Process generally means for example capture, storage, analysis, curation, searching, sharing, transferring, visualizing, querying, updating, etc. However, the term also often refers to the use of predictive analytics, user behavior analytics or certain other advanced data analytics methods. Analysis of data sets can find new…

Project risks budget exceedance used as a rejecting argument by activists

Project risks budget exceedance used as a rejecting argument by activists popped on our radar-screen a few days ago. Indeed we recently read an article stating that Environmentalists want the Ontario government (Canada) to abandon plans for a $13-billion refurbishment of four nuclear reactors at the Darlington generating station. We could not help but to remember a post we wrote about mega projects and the numerous cognitive biases that flaw our human reasoning. Indeed poorly made risk assessments, foster internal and…