How do you assess and manage mineral processing risks in your projects?

3 Evaluate and compare your alternatives

Once you have quantified your uncertainties and risks, you need to evaluate and compare the performance of your alternatives under different conditions. You can use various methods and tools to do this, such as sensitivity analysis, scenario analysis, Monte Carlo simulation, decision trees, or real options analysis. These methods can help you estimate the expected value, variance, probability, and trade-offs of your outcomes. You can also use graphical or numerical techniques to visualize and communicate your results.

4 Mitigate and manage your risks

The final step is to mitigate and manage your risks. This means taking actions to reduce, transfer, avoid, or accept the risks that you have identified and evaluated. You can use various strategies and measures to do this, such as design optimization, contingency planning, risk sharing, insurance, hedging, or diversification. You also need to monitor and update your risk analysis as new information or changes occur. You should document and report your risk analysis process and results to support your decision making and communication.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?