Principal – Asset Strategy and Risk
10:00 AM Water Corporation’s Increased Process Efficiency for Evidence Based Asset Risk Assessment: 11,500 Risk Assessments in 3 Months
With its extensive water infrastructure network in WA, Water Corporation is exploring opportunities to best deliver value at reduced cost. The impetus for this undertaking has become the development of a risk based case guiding the optimal use of its assets. Departing from more standard practices, Water Corporation has taken an innovative and strategic approach to risk assessment that has yielded undeniable results, equipping them with the ability to assess more assets than ever before. With a concentrated effort to identify and incorporate appropriate data into a standardized assessment process, Water Corporation is equipped with a strong evidence based foundation for decision making.
- Standardizing an evidence based risk assessment process, reducing the opportunity for subjectivity to undermine efforts.
- Semi-automated process that maximise productivity without compromising quality and insights.
- Evidence based cases for informed decision making.
In this session we hear from panellists involved at various levels in the risk management of different classes of assets, as they discuss what they consider to be the important factors to account for and the different strategies to employ in identifying, managing and minimizing risk.
- Identifying areas of risk.
- The benefits of adhering to standards in minimizing risk, and when to go further.
- Strategies and systems for addressing risk.