We are only two weeks away from the Risk and Resilience in Mining Conference. It will take place in Vancouver (Nov. 13th to 16th) with the following program. Risk and Resilience in Mining Let’s adopt a bit of a polemical stance, just to stir the discussion. First of all, in particular as it relates to the term resilience, are we sure we need to “invent a new word” for it? Isn’t it just “returning to good sense engineering” what we…
Read More
We recently became aware of a rather interesting research graphic. It bears the title of “Without Fail”. But Is there a simple way to turn failure into success? We present it below, followed by our comments and suggestions. Source: OnlineMBAToday.com The graphic starts by stating that 90% of business startups fail and 42% of those failures are actually due to lack of market for their products. Additionally I’d like to say, botched plans. No big surprise here, these numbers are “known”…
Read More
Testing Innovation Potential In Startups We read/hear a lot of talking about “disruptive innovation” ideas. Many of these disruptive innovations, however, seem to be linear extensions of an extant solution, say a less polluting engine, a better lasting battery or more functional accessory, a new, stronger, easier to use app. Oftentimes it is like no-one has really asked the developer or themselves if the innovation actually was disruptive before using the oh so fashionable adjective. Voices are raising (for example:…
Read More
World War II, survivor bias and risk based decision making During World War II bombers crews knew their chances of coming home were extremely low because of anti-aircraft and enemy interception. Airmen were described as “Ghosts already” by the historian K. Wilson. The Air Force asked a panel of scientists, engineers and statisticians to develop a plan to enhance the chances of success of air missions, which in the mind of the military was equivalent to reinforcing the planes, building…
Read More
