Study Like a Boss
Floods are natural occurring processes that are difficult to prevent but can be managed to reduce its social and economic impacts. Flooding is a threat to life and leads to damage of property. Therefore, it is very important that flooding risks be considered during any planning process. There are areas that are more susceptible to … Read more
Deepwater Disaster Plan Failure Risk management failures were a core factor leading to one of the largest oil well disaster in the Gulf of Mexico, US. The Deepwater explosion, in May 2010, killed 11 men and left miles of Louisiana coastline coated in oil, wreaking billions of dollars of damage to tourism and fishing industries … Read more
Risk management is hugely important to every project to identify all the potential risks. An uncertain event or set of circumstances if it occurs, will influence the achievement of the project objectives, which could be detrimental to the project success. “Risk management is the process of identifying, assessing and controlling threats.” Our project had many … Read more
Disaster is a serious event that seriously causes severe changes society which causes human, economic, material and environmental loss. BP failed to make proper contingency plans for an explosion at its Deepwater Horizon oil well and then misled officials about the amount of oil spilled when the worst happened. The Deepwater catastrophe in May 2010 … Read more
The COSO cube helps us look at the whole organizations enterprise risk management model and focus on individual parts. Enterprise risk management (ERM) is the process of planning, organizing, leading and controlling the activities of an organization in order to minimize the effects of risk on our capital and earnings. In other way, enterprise risk … Read more
