We are learning that structural integrity of hydro dams is also becoming an issue. Thus, similarly to tailings dams, we need a strategic operational and tactical planning for tailings hydro dams! Karl Terzaghi, American Society of Civil Engineers, “Terzaghi Lectures, 1974-1982,” American Society of Civil Engineers (1986) ISBN 0-87262-532-X. proposed that a dam rating system should provide ALL of the following: A logical framework for rating the relative safety of a dam Allow for the use of judgment and experience…
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We read last week a CIM annoucement of a Metallurgy and Materials Society (MetSoc) webinar on September 20 about Improving project cost evaluations. BQE Water President & CEO David Kratochvil will present the seminar. Subject matter Our friend David will discuss the shortcomings of conventional Net Present Value and risk assessments applied to water treatment plants. He will explain how to overcome potential uncertainties with the Risk Adjusted Life Cycle Cost analysis approach. Comparing alternatives for a project requires careful…
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The pelican beak analogy shows enhanced planning benefits. As you probably know it by now, we have expressed skepticism toward using buzzwords like black swan and others, for numerous reasons. That does not stop us, however, to come out today with another avian analogy. The pelican analogy displays in a simplified manner the capital required by an entity, i.e. a project, startup, basically any endeavor. It displays as the straight orange line. The capital produced in the meantime, i.e. the purple…
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Strategic, Tactical & Operational planning While the world was feeling the aftershocks of the Great Recession, we wrote about 16 common Human traits when dealing with hazards and risks. Some of those 16 traits lead individuals and often their organizations to assume stances called Ostrich, Denial or Prayer, resulting in flawed Strategic, Tactical & Operational planning options and occasionally exposing them (and their neighbors, their environment, society at large) to significant hazards which could generate large unintended consequences, i.e. large risks leading to…
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More questions raised by Probability Impact graphs common practice is all about the lack of logical robustness of the 4×4 or 5×5 risk matrix approaches. We oftentimes see PIGs risk matrix (probability impact graphs) based “ERM binning exercises” being presented where the scale of the graph (generally the consequence axis) is adapted when going from operational to corporate level. This practice certainly does not help a rational approach to strategic, tactical, operational levels and raises several questions. More questions raised by…
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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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