risk-based management (2)

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

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The Risky Future of Oil

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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).

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                                               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

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