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Information systems and risk management

Information systems and risk management discusses the necessity to create a structured and holistic view on all corporate information. Therefore we look at and how the holistic view should relate to upside and downside risks. Information systems are the set of analytical applications geared toward preparing corporate or project system’s data for business analyses and support to risk informed decision making. Downside risk is the product of the probability of occurrence of a hazard by the cost of the undesirable…

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Tactical and Strategic tailings dams risk management

Tailings 2.0 is designed to allow Tactical and strategic tailings dams risk management. Tactical and strategic tailings dams risk management The definition of corporate risk tolerance and acceptability foreseen in Tailings 2.0 allows to sort risks in tolerable/acceptable, intolerable but manageable, intolerable and requiring a strategic shift (in short: strategic risks). This is the most pertinent and efficient way to sort risks. We can actually see the three different classes of risk, namely the blue, yellow and red classes. The…

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Digital transformation means significant benefits and critical risks

Digital transformation means significant benefits and critical risks. Like any medicine digital transformation has good effects and side effects. Many consider digital transformation as the way to address all productivity and margin challenges. In other words, the way to deliver significant bottom-line value. However, a recent EY’s global report ‘The digital disconnect: problem or pathway?’ points to some significant disconnect insofar there is a lot of talking, but not many actually embrace the new ways of digital transformation (DT). The…

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Cynefin framework and Johari window synergy with Risk Management

We recently attended a talk at CIM-MES Vancouver which brought us to think about Cynefin framework and Johari window synergy with Risk Management. What we will do in this blogpost is show that despite an apparent significant different language there are ideas and concepts that correspond between the approaches. Furthermore this leads to Cynefin framework and Johari window synergy with Risk Management. As you will read it will become immediately apparent that “Known-knowns” of the Johari window correspond to the “Obvious”…

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ORE use for Risk Informed Decision Making (RIDM)

ORE use for Risk Informed Decision Making (RIDM) explores the possible deployment of ORE within RIDM. We will teach this in Banff using well documented case histories. Here are some examples: Mining (operations and environmental rehabilitation) Transportation (RR and highways) Wharves (including multi-modal logistics) Automotive (specialty vehicles) M&A, startups ORE use for Risk Informed Decision Making (RIDM) : does it fit? We highlight below some aspects of RIDM and compare them to ORE features to show how ORE use for Risk…

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Johari window application in risk management

Johari window application in risk management is an exploration of possible corporate application of a therapeutic tool. The psychologists Joseph Luft and Harrington Ingham developed the tool back in 1955. The Johari window became world-renown when US Secretary of Defence Rumsfeld quoted parts of it. You probably remember the known unknowns and the unknowns you do not know you don’t know in an “intelligence” talk. The Johari window and its original meaning The Johari window is a four squares graph…

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It is not necessary to invoke chaos, “complexity” and “irrational methods” to solve problems

This week we discuss why it is not necessary to invoke chaos, “complexity” and “irrational methods” to solve problems corporations and governments face when dealing with risks and uncertainties. A historic view In the mid-60s Peter L. Bernstein’s 1996 wrote a book entitled “Against the Gods, the remarkable story of risk”. The book offered a historic view of risk management and the forces which drove it. Voices have raised since claiming that accepted risk management practices have reached their obsolescence point.…

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Anthropocene, Sapiezoic and Risk Management

With Anthropocene, Sapiezoic and Risk Management we wish to give a philosophical start to 2017. Remember Riskope’s 2016 Season’s wishes? Remember our chapter The Long shadow of Human generated geohazards: Risks and Crises in Geohazards Caused by Human Activity? Anthropocene, Sapiezoic and Risk Management We recently read an interesting article . It was the trigger to present an integration of a prior posts discussing Anthropocene, Sapiezoic and Risk Management. When did the Anthropocene start? The article starts stating that humans…

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