risk-based management (4)
Man is the Center of the Risk Universe
RCA and Risk
Root cause analysis (RCA) is the process of finding the event or condition that leads straight to an occurrence (another event). It is a systematic procedure used to identify the principal possible cause of risk. In risk-based management, root cause analysis (RCA) is more useful in predicting future events.
RCA is no longer a hindsight technique of investigation but a forward-looking one. It s
RCA and Risk
Root cause analysis (RCA) is the process of finding the event or condition that leads straight to an occurrence (another event). It is a systematic procedure used to identify the principal possible cause of risk. In risk-based management, root cause analysis (RCA) is more useful in predicting future events.
RCA is no longer a hindsight technique of investigation but a forward-looking one. It still relies on previous experience, statistics, and more heavily on data correlation. We are
Brent and WTI crude prices fell more than 6.4% to US$29.64 and US$29.57 a barrel respectively yesterday (25Jan2016) following a ~10% rise last Friday. Today’s price came up a little opening at US$29.79 but as usual, promising nothing out of the ordinary (Figure 1).
Figure 1: WTI Oil Price, 26-Jan-2016
No one expert knows exactly how much oil out there exceeds the global volumetric demand but all seem to agree that the entire world is drowning in it. T
