News

  • Embedding risk management at the top

    The purpose of risk management is to create and protect value by helping us achieve better business outcomes. It should be part of our day-to-day activities. When it is integrated closely into the way we manage our business, it helps us be more effective and efficient, make better decisions, capture opportunities and avoid unpleasant surprises. This short tutorial describes how we can embed risk management at the executive level, to lead its wider adoption in our operations.

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  • Adapting governance for complex projects

    Sound governance is a critical component of reliable project success. As complexity is becoming an increasingly prominent feature of project selection and implementation, it is useful to pay attention to the interaction between governance and complexity in projects. This paper offers insights into methods for dealing with governance in complex projects. This is not a primer on complexity or strategies for dealing with it in general; rather it points readers towards interesting concepts and areas so they can develop their own ideas.

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  • Managing uncertainty in a wastewater project

    This case study concerns a sewerage upgrade project in its pre-feasibility phase. It outlines a simple qualitative risk assessment for the project, the development of treatment actions, and an initial evaluation of commercial and pricing options. The case draws lessons about the value of risk management for procurement, and some of the pitfalls of residual risk calculations.

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  • Climate change strategy for a pharmaceutical company

    This case study describes a review of climate-related risks with an international pharmaceutical company that had sophisticated frameworks for governance, risk management and corporate social responsibility (CSG). It outlines how the approach was adjusted to take account of the focus on medium- and long-term effects of climate change and climate policy, the sophistication of the client team, previous risk assessments, and the need to generate an understanding of climate-related uncertainties to support strategic decisions.

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  • Reliable power for a remote mine

    Broadleaf was engaged to facilitate a workshop to examine the risks related to the reliability of power supply to a mine. The mine generated its own power that supplied its facility as well as surrounding communities. A planned mine expansion meant that the power supply to the plant needed to be upgraded and its reliability improved. This case discusses the importance of tailoring the criteria for risk assessment, using several forms of analysis to set priorities, and the need for a broad perspective.

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  • Bridge operations on a commuter road

    This case study outlines a risk assessment and treatment options for enhancing the reliability of an opening bridge on a commuter road, augmented by aspects of failure modes and effects analysis (FMEA). The case discusses the importance of site familiarisation, setting workshop agendas carefully, adapting the risk management process to enhance its effectiveness, using a flexible approach to setting priorities for management attention, and the value of templates for efficiency, effectiveness and due diligence.

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  • New tutorial on monitoring risks and controls

    Monitoring is an important process in most organisations. It is critical for the effectiveness of risk management and control assurance. Risk owners monitor the business environment and indicators associated with the causes of risks to help ensure their perspectives of and assumptions about the risks for which they are responsible remain valid. Control owners, and assurance providers at Line 2 and Line 3 of the three lines of assurance, monitor indicators of control effectiveness, particularly for critical controls.

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  • The colour of hydrogen

    As the planet confronts global warming, hydrogen will become an increasingly important energy source, affecting many sectors in which Broadleaf works. Hydrogen is important because it can be environmentally friendly: it can be produced from renewables and, whether used for combustion or in fuel cells, its primary by-product is water, rather than the carbon dioxide that is generated by burning hydrocarbons. Hydrogen is described in different ways, according to the energy sources and feedstocks used to produce it and the kinds of by-products that are generated. This tutorial summarises the colour descriptions attributed to specific forms of hydrogen production and outlines some of the associated technologies.

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  • Our work with local government

    We have had several enquires recently from local government organisations, for whom we have undertaken a range of assignments over many years. Our activities have covered most aspects of risk management, including enterprise risk management (ERM) and qualitative and quantitative risk assessments. We have prepared a new summary, with links to related work with utilities and climate change.

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  • Correlation in quantitative risk analysis

    Uncertain quantities can be correlated by a dependence on a common source of variation. Modelling these correlations in quantitative risk analysis must be done with great care. Ignoring correlation in quantitative models can generate outcomes that are wrong, sometimes significantly so, and that have the potential to mislead the users of those models. This tutorial note examines correlation, and practical methods of incorporating it in quantitative risk analysis models.

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