Engineering complex systems applied to risk management in the mining industry

• Main Authors: Maria S.Q. Domingues, Adelina L.F. Baptista, Miguel Tato Diogo
• Format: Article
• Language: English
• Published: Elsevier 2017-07-01
• Series: International Journal of Mining Science and Technology
• Online Access: http://www.sciencedirect.com/science/article/pii/S2095268617303452

Related to complexity, there is a wide diversity of concepts, ranging from “systemic” to “complex”, implying a need for a unified terminology. Per different authors, the main drivers of complexity can be found in human behaviour and uncertainty. This complexity, structural or dynamic can be organizational, technological, or nested in their relationship. ISO international standard 31000:2009 definition of risk management “coordinated activities to direct and control an organization with regard to risk”, when applied to economic sectors, industry, services, project, or activity, it requires the use of models or theories as guidelines. Therefore, as its basic elements comprehend human behaviour and/or uncertainty, risk management to be effective and adapted as much as possible to reality, must be operational within complex systems, as already demonstrated in different R&D environments. Risk management faces demanding challenges when approaching specific and endogenous needs, such as the mining sector. This paper presents a multivariable function analysis methodology approach based on complex system modelling and through real data corresponding to a risk management tool in the mining sector. Keywords: Risk, Risk management, Complex systems, Mining, Decision making