This paper presents an application of the newly developed risk-cost-benefit (RCB) framework to support risk management decisions for the selection of wall monitoring technologies at an open cut mine site. The RCB framework quantitatively assessed the risk of unstable slope-induced wall failure and its impact on both loss of life and coal recovery. The RCB framework was utilised in the selection of an optimum group of risk-controls to effectively manage the risk of wall failure to ensure safety and optimal production occurred. The RCB framework incorporates mathematical modules that integrated RCB calculations and risk-control effectiveness assessments to determine the risk reduction and financial impact of the examined safety initiatives.This paper provides an overview of the five-staged RCB framework, incorporating the RCB decision support tools, RCBGEN (Risk-Cost-Benefit Generator) and RCEMETHOD (Risk-Control Effectiveness Method), and demonstrates its application to slope stability risk management at the case study site. The RCB charts are designed to display a balance between risk, cost and benefit for easy interpretation by decision makers to support the objective selection of an optimum suite of risk-controls. The RCB analysis revealed that a combination of visual inspections, automatic extensometers and radar' for fast- and slow-wall failures with structure were sufficient to reduce the probability of loss of life (PLoL) to the Moderate' zone as defined by the Australian Geomechanics Society (AGS, 2007) for the case study site. The new framework presented in this paper provides a method to effectively determine the suitability of risk-controls and supports industry efforts to reduce risk to as low as reasonably practicable (ALARP).CITATION:Kizil, G V, Bye, A and Joy, J, 2012._x000D_
Risk-cost-benefit analysis of early warning technologies impact for wall failure risk management in surface mines, in Proceedings Eighth Open Pit Operators' Conference , pp 55-64 (The Australasian Institute of Mining and Metallurgy: Melbourne).