Read our blogs on risk management
Hatch experts Yale Zhang and Thessy Moodley discuss Digital Twin technology, focusing on value delivery and improvement opportunities without getting caught up in the hype.
Studying the tails of distributions is essential for risk management. Whether in probabilistic risk assessment or even in qualitative hazard studies, risk management aims to understand tail events. Risk measures such as value at risk or expected shortfall are essentially measures of the distributions’ tails. So, if you’re concerned about your project cost overrun risks, for example, you’re worried about the tail of the cost distribution.
Everyone wants to believe that a catastrophic event would never happen to them. But the truth is—it can. Let's take a look at five steps to build an impartial process to mitigate and help prevent devastating catastrophic events.
Organizational design and right-sizing
Three Chain Road project
Kemano Second Tunnel (T2) Project
British Columbia, Canada
Sulfuric Acid Plant
Democratic Republic of the Congo (DRC)
Grand Falls Dam and Spillway Rehabilitation
Grand Falls, Newfoundland, Canada
Tugela River Pedestrian Bridge
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Transportation & Logistics
Rail & Transit
Transmission & Distribution
Ports & Terminals
Innovation in Mining
Highways & Bridges
Responding to the energy transition
Custom evaporation and crystallization solutions
Operations readiness, commissioning, and ramp-up