Observations on life; particularly spiritual

Posts tagged “risk

Living dangerously

Many people are living dangerously today and they are oblivious to the massive risk they are taking!

Power plant electrical transformersElectrical substations have oil-filled transformers. A catastrophic failure can cause the loss of large amounts of oil from the transformers and can cause a fire and damage containment bunds resulting in soil and water contamination. Major power supply substations usually have two levels of pollution control for oil spills. The first level (or primary containment) is a bund (or retaining wall) which can contain any spillage. The second level (or secondary containment) is a backup if the first level fails. This can be another bund or an overflow area (like a dam). Two levels of containment is deemed to be sufficient to prevent the pollution of the soil or waterways where there is a significant risk of spillage of hazardous liquids. When these two levels of containment are in place, there is little risk of a spillage having an impact on the surrounding environment. This is an acceptable industrial risk. (more…)


Taking risks for God

Developer ordered to fix serious defects in a 16-storey apartment tower in AuburnIn March 2021 a developer was given an order to fix serious defects in a 16-storey apartment tower in Auburn in New South Wales. The defects included waterproofing, fixing of wall tiles to bathroom and ensuite walls, and falls to bathroom and ensuite floors. Following the structural flaws in Sydney’s Opal and Mascot towers, there has been increased attention on weeding out shoddy work. The risk assessment done by the builder was something like this. I can make more money by not doing everything properly. What could go wrong that could harm my profit? I could get caught by the NSW Building Commissioner. What would be the consequence of this happening? Is it minor, or moderate or major? Besides the extra cost it would be bad publicity and so the impact would be “major”. What is the likelihood of this happening? Is it unlikely (rare), or possible, or likely (common)? Because he thought he could get away with it, he thought it was “unlikely” (rare). What is the risk level? The risk matrix (table), says that a “unlikely” likelihood and a “major” consequence give a “medium” risk ranking, which is tolerable. That’s why he went ahead with the shoddy work. But he erred – the likelihood was actually “possible”, which gives a high risk. And he suffered the consequences. (more…)