Using Tolerable Risk to Drive Asset Management Decision Making
|
|
- Curtis Eaton
- 5 years ago
- Views:
Transcription
1 Using Tolerable Risk to Drive Asset Management Decision Making Richmond, Virginia May 12,
2 Principal Asset Management Consultant with GHD and has over 25 years experience in utility management. Nationally recognized in the field of asset management and has led many of GHD s largest and most complex AM projects in the US. He has led numerous workshops, training sessions, and presentations on advanced asset management. Gage Muckleroy, PE BCEE Institute of Asset Management (IAM) Endorsed Assessor. Received his Bachelor s degree in Civil Engineering from Texas A&M in 1988 and his Master s degree in Environmental Engineering from The Johns Hopkins University in
3 Acknowledgments Acknowledgments: Walter Graf, WERF Duncan Rose, GHD (Retired) Steve Albee, US EPA (Retired) Ned Paschke, University of Wisconsin Madison Sunil Sinha, Virginia Tech 3
4 Asset Management Definition and Frameworks 4
5 Challenges Facing Infrastructure Owners Knowledge Loss Customer Demands Financial Constraints Which of these impact you most significantly? Regulatory Compliance Climate Change Many organizations have found that a comprehensive approach to Asset Management helped address these challenges Growth Security & Emergency Response Aging Assets Any additional challenges you face not on this list? Asset Management 101 April, 2016 Copyright 2016 GHD Inc. 5
6 Changing Utility Business Environment Demand to do more with existing resources Need to make every dollar work to better use capital and operating budgets Move from reactive to proactive work environment 6
7 A Paradigm Shift Transition from building and operating to managing assets Extending asset life Optimizing maintenance and renewal Developing accurate long-term funding strategies Sustain long-term performance 7
8 What, Then, Is Asset Management (AM)? Systematic integration of advanced and sustainable management techniques into a management paradigm or way of thinking. Primary focus on the long-term life cycle of the asset and its sustained performance, rather than on shortterm, day-to-day aspects of the asset. 8
9 Asset Management Frameworks WERF / EPA Framework Basic for initial understanding 5 Core Questions Ten Step Process ISO Overview of principles & terminology ISO 55001: Management systems requirements ISO 55002: Management systems Guidelines for applying Asset Management 101 April, 2016 Copyright 2016 GHD Inc. 9
10 Asset Management US EPA Definition Management paradigm and body of management practices Applied to the entire portfolio of infrastructure assets at all levels of the organization Seeking to minimize total costs of acquiring, operating, maintaining, and renewing assets Within an environment of limited resources While continuously delivering the service levels customers desire and regulators require At an acceptable level of risk to the organization COS LOS RISK Comprehensive Asset Management Asset Management 101 April, 2016 Copyright 2016 GHD Inc. 10
11 IMPLEMENTATION Organization values, prioritization criteria and risk policy PLANNING ASSET MANAGEMENT SYSTEM Stakeholder Requirements Strategic Requirements ORGANIZATIONAL STRATEGIC PLAN (OSP) Vision, mission and values, business policies, stakeholder requirements, goals and risk management ASSET MANAGEMENT POLICY Mandated requirements, overall intentions/principles and framework for control of asset management ASSET MANAGEMENT STRATEGY Long-term optimized and sustainable direction for the management of the assets, to assist in delivery of the organizational strategic plan and apply the asset management policy ASSET MANAGEMENT OBJECTIVES Specific and measurable outcomes required of assets, asset systems and the asset management system ASSET MANAGEMENT PLAN(S) Actions, responsibilities, resources and timescales intended to implement the asset management strategy and deliver the asset management objectives ASSET MANAGEMENT PROCESS & PRACTICES Functional, policies, strategies, standards, processes and procedures Concept Operate & Specify Acquire Improve Dispose Maintain Source: IAM (adapted from PAS-55:2008) 11
12 Five Core Questions of Asset Management 1.What is the current state of my assets? What do I own? Where is it? What condition is it in? What is its performance? What is its remaining useful life? What is its remaining economic value? 2.What is my required level of service (LOS)? What is the demand for my services by my stakeholders? What do regulators require? What is my actual performance? 3.Which assets are critical to sustained performance? How does it fail? How can it fail? What is the likelihood of failure? What does it cost to repair? What are the consequences of failure? 4.What are my best O&M and CIP investment strategies? What alternative management options exist? Which are the most feasible for my organization? 5.What is my best long-term funding strategy? Asset Management 101 April, 2016 Copyright 2016 GHD Inc. 12
13 10-Step Process 1. What is the current state of my assets? 2. What is the required LOS? System layout Data hierarchy Standards inventory Condition assessment Protocol Rating methodologies Expected life tables, decay curves Valuation, life cycle costing Demand analysis Balanced scorecard Performance metrics Develop asset registry Assess conditions failure modes Determine residual life Determine life cycle and replacement costs Set target Levels of Service (LOS) Determine Business Risk ( Criticality ) Optimize O&M Investment Optimize Capital Investment Determine Funding Strategy Build AM Plan Failure mode and effects analysis Business risk Exposure Delphi technique Root cause analysis Reliability centered and Predictive maintenance Optimized decision-making Confidence level rating Strategic validation Optimized decision making Renewal annuity 3. Which assets are critical? 4. Best O&M and CIP strategy? 5. Best funding strategy? Asset management plan Policies and strategies Annual budget Asset Management 101 April, 2016 Copyright 2016 GHD Inc. 13
14 Fit-for-Purpose Asset Management 101 April, 2016 Copyright 2016 GHD Inc. 14
15 Risk as a Component to Asset Management Decision Making (Basic and Advanced) 15
16 Risk is the Heart of Asset Management Risk Asset Management 16
17 Characteristics of Good Asset Management An asset management system that realizes value from all of the assets in order to achieve organizational objectives Characteristic Multi-Disciplinary Systematic Systems-Oriented Risk Based Optimal Sustainable Integrated Demonstration of Application Crosses departmental & discipline boundaries with focus on net value for money Rigorously applied in a structured management system Looks at assets in their system context Incorporates Risk into all decision making Seeking best compromise. Cost vs Performance vs Risk & Short term vs Long term Life cycle value, Environmental performance Joined up - it is more than a sum of the parts Source: Adapted from PAS-55:2008 and ISO
18 Risk Framework Defines in a consistent and repeatable way what risk is and how it will be calculated Includes a system for reevaluation of risk and the framework itself on a periodic basis Is comparable across the organization through the use of a consistent risk scale Integrates with other processes such as CIP, business case analyses and O&M related decision making Assigns responsibility for managing risk to specific individuals or groups within the organization 18
19 Steps in Implementing a Risk Framework Establish Risk Context Identify Risks Evaluate Risks Manage Risks Monitor and Review Source: International Infrastructure Management Manual 2011 Edition 19
20 Establish Risk Management Context Corporate Guides Policy Executive Management Team Activity Guides Strategies Asset Managers Operational Guides Specific Actions Operations and Technical Staff Source: International Infrastructure Management Manual 2011 Edition 20
21 Examples of Using Risk in AM Decision Making Capital Project Prioritization Business Case Evaluations Risk Reduction Key Performance Indicator Number or Value of Assets in Significant Risk Zone 1 vs Total Assets in Zones 1, 2 and 3 Maintenance Strategies PM Optimization vs Enhanced Predictive Maintenance Programs 21
22 Simple Risk Metric Condition, Reliability, Performance Costs of the Consequences of Failure Business Risk Exposure (BRE) Probability of Failure (PoF) Consequence of Failure (CoF) PoF x CoF = BRE 22
23 Business Risk Exposure Core Risk Probability of Failure x Consequence of Failure x Risk Mitigation = Business Risk Score Use design or standard life table Adjust for Design standard Construction quality Material quality Operational history Maintenance history Operating environ. External stresses Consider Failure mode Condition Operating Performance Reliability Availability Maintainability Consider Safety, health, and welfare Environmental impact Process criticality Repair costs Revenue and aggravation impact on customers and agency Consider Redundancy Diversion/Pipe around Spares on site SCADA Etc. 23
24 The Four Major Failure Modes Failure Mode Definition Tactical Aspects Management Strategy Capacity Volume of demand exceeds design capacity Growth, system expansion Redesign LOS Functional requirements exceed design capacity Codes & permits: NPDES*, CSOs, OSHA, noise, odor, life safety; service, etc. O&M optimization, renewal Mortality Consumption of asset reduces performance below acceptable level Physical deterioration due to age, usage (including operator error), acts of nature O&M optimization, renewal Efficiency Operations costs exceed that of feasible alternatives Pay-back period Replace *NPDES is National Pollutant Discharge Elimination System, CSOs are combined sewer overflows, and OSHA is Occupational Safety and Health Administration 24
25 Probability of Failure (PoF) PoF is directly related to the failure mode We cannot absolutely determine PoF Sometimes we have good data, sometimes we do not We can estimate a range of failure how early (pessimistic) and how late (optimistic) 25
26 Age? Usage? Condition? Performance Finding a Proxy for Measuring Failure Can age, usage, or condition be substituted? High Data distribution of asset performance Decay curve Mean asset condition Low 0 Minimal asset standard Assets performing below standard 50 Percent of Effective Life Consumed
27 Condition Assessment Scoring Score Description Maintenance Level Percent Replacement 1 Perfect/excellent condition Normal 0 2 Minor defects only Minor 5 3 Backlog maintenance required Significant Major renewal required Renew Asset nearly unserviceable Renew >50 27
28 Condition How to Determine the Remaining Life? Relating asset condition to percent of effective life consumed Data distribution of asset condition 1 2 Current Condition Decay or failure curve Remaining Service Life Physical Failure Percent of Effective Life Consumed
29 Probability Determining Significance of Failure The business risk exposure (BRE) trade-off High B High probabilitylow consequence D High probabilityhigh consequence Low Low A Low probabilitylow consequence Consequence C Low probabilityhigh consequence High 29
30 Probability Business Risk Exposure (BRE) Drives Prioritization High Worst first? No B Poor D Fair A Good Low Low Consequence C Good High 30
31 Probability Business Risk Exposure (BRE) Drives Prioritization Work program response High B Aggressive monitoring D Immediate work A Sample monitoring Aggressive monitoring Aggressive monitoring C Low Low Consequence High 31
32 Probability of Failure BRE Example 1 Basic Scoring Approach (Low Medium - High) Business risk exposure (BRE) increases (higher numbers) as probability of failure (PoF) and consequence of failure (CoF) increase High Low Low Consequence of Failure High 32
33 PoF BRE Example 2 Basic Scoring Approach (1 to 5 Scale) P5 Certain P4 Almost certain or very likely P3 Likely P2 Possible P1 Rare Risk = Categories C5-Catastrophic C4-Extreme Immediate action to prevent impact to LOS, safety, and environment Gearing up for immediate action Insignificant Minor Moderate Major Catastrophic C1 C2 C3 C4 C5 C3-High C2-Moderate C1-Low Monitoring regime, response plan in place Management responsibility specified Manage using routine procedures CoF 33
34 Determining Business Risk Exposure for Linear Assets Desktop condition model Probability of failure GIS Proximity to environmentally sensitive areas Asset size Client type supported State vs local road X Consequence of failure = BRE 34
35 Business Risk Exposure Results 35
36 Tolerable Risk A level of risk deemed acceptable by society in order that some particular benefit or functionality can be obtained, but in the knowledge that the risk has been evaluated and is being managed. 36
37 Consequence of Failure Criteria Regulatory compliance Regulatory violations Environmental impact Environmental Economic Social / Community Health & safety Levels of service Public image Direct cost (external) Indirect cost (internal) Triple Bottom Line 37
38 Consequence of Failure Scoring Matrix - Example Public image (odor / noise / discharges) No Impact Social/Community Alert posted on website but no media attention Local coverage State coverage National coverage Customers Affected <10 and No Critical Customers 11 to 250 and No Critical Customers 251 to 1000 and No Critical Customers 1001 to 10,000 and No Critical Customers >10,000 or 1 or more Critical Customers Health & safety No impact Minor injury Moderate injury and some sickness Major injury, sickness Potential for fatalities Financial Financial impact Operational/resource impact Regulatory compliance $5,000 - Supervisory approval Negligible impact $50,000 - Department Head approval Low impact $150,000 - Manager approval High impact (scheduled work is delayed) $500K to $1M - Less than available reserves High impact & diverts funds >$1M - Greater than available reserves Outsourcing to Specialty Contractors Environment/Regulatory No consequence Regulatory sanction possible Regulatory sanction likely; damage reversible in less than one year Extensive regulatory sanction virtually assured; damage reversible in one to five years Severe sanctions likely; damage reversible in five years or more
39 Tolerable Risk What is the tolerable Consequence of Failure to the organization? Society? Deaths, illnesses? Customers out of service? Calculated in dollar terms? To what condition must you manage your assets to stay within tolerable limits? 39
40 Developing Tolerable (Significant) CoF - Example Public image (odor / noise / discharges) No Impact Social/Community Alert posted on website but no media attention Local coverage State coverage National coverage Customers Affected <10 and No Critical Customers 11 to 250 and No Critical Customers 251 to 1000 and No Critical Customers 1001 to 10,000 and No Critical Customers >10,000 or 1 or more Critical Customers Health & safety No impact Minor injury Moderate injury and some sickness Major injury, sickness Potential for fatalities Financial Financial impact Operational/resource impact Regulatory compliance $5,000 - Supervisory approval Negligible impact $50,000 - Department Head approval Low impact $150,000 - Manager approval High impact (scheduled work is delayed) $500K to $1M - Less than available reserves High impact & diverts funds >$1M - Greater than available reserves Outsourcing to Specialty Contractors Environment/Regulatory No consequence Regulatory sanction possible Regulatory sanction likely; damage reversible in less than one year Extensive regulatory sanction virtually assured; damage reversible in one to five years Severe sanctions likely; damage reversible in five years or more
41 Development of Risk Management Zones Zone 1 Zone 5 Zone 4 Zone 3 Zone 2 41
42 BRE Example 3 - Scoring Approach Using Management Zones Zone 1 - Significant risk zone: Zone 4 Standard maintenance and replacement strategies Zone 5 - Low CoF assets. Run to repair: Not critical Redundancy Spares Maintenance optimization Significant CoF environmental and operational impacts Address in short term (0-5 years) Zone 2 - Assets with high CoF but failure not imminent - Real time / more aggressive condition monitoring (as applicable). Zone 3 - Assets with moderate CoF but failure not imminent - Real time / more aggressive condition monitoring (as applicable). 42
43 Likelihood of Failure Risk Framework - Example Business Risk Exposure Risk Zones Example for Illustrative Purposes Only 43
44 Business Risk Exposure Core Risk Probability of Failure x Consequence of Failure x Risk Mitigation = Business Risk Score Use design or standard life table Adjust for Design standard Construction quality Material quality Operational history Maintenance history Operating environ. External stresses Consider Failure mode Condition Operating Performance Reliability Availability Maintainability Consider Safety, health, and welfare Environmental impact Process criticality Repair costs Revenue and aggravation impact on customers and agency Consider Redundancy Diversion/Pipe around Spares on site SCADA Etc. 44
45 Example Using Redundancy as a Risk Mitigation Strategy Redundancy is a type of risk mitigation that can significantly reduce the risk metric BRE = PoF x CoF x R Where PoF is probability of failure CoF is consequence of failure R is a redundancy or risk mitigation factor ( 1.0) 45
46 Example Determining Mitigation Factor as Redundancy Start Does any other system/asset/approach fully fulfill the function if the asset fails? No Does any other system/asset/approach No partially fulfill the function if the asset fails? Yes Full Redundancy Yes Partial Redundancy No No Redundancy 46
47 Example Redundancy Scenario Assuming Only One Asset Can Fail at a Time Lift station with 5 interconnected pumps of equal capacity and 4 pumps can handle the peak flow demand (i.e., 1 installed spare). Failure definition: 1 (of 5) pump fails during peak flows (i.e., no simultaneous pump failure). Since there is 1 installed spare pump to replace a failed pump, there is 100% redundancy in this system. 100% redundancy is reflected as 90% reduction in risk. Mitigation score then is 1-90% = 0.1 (or 10%) (i.e., 10% of the core risk). Example: 2 installed spare pumps would be 200% redundancy, reflected as 98% reduction in risk. 47
48 Example Mitigation Factors Mitigation Description Factor No Backup All capacity lost 1 10% Backup 10% of capacity available after failure of an asset Increase capacity Equivalent to 10% backup % Backup 20% of capacity available after failure of an asset Emergency response plan Equivalent to 20% backup 0.8 Mobile backup online Equivalent to 20% backup % Backup 25% of capacity available after failure of an asset 0.75 Bypass / diversion Equivalent to 25% backup 0.75 Real time monitoring* Equivalent to 25% backup 0.75 Spares on site Equivalent to 25% backup 0.75 Increase inspection frequency* Equivalent to 25% backup % Backup 30% of capacity available after failure of an asset 35% Backup 35% of capacity available after failure of an asset Containment Equivalent to 35% backup 0.65 Mitigation Description Factor 40% Backup 40% of capacity available after failure 0.6 of an asset 50% Backup 50% of capacity available after failure of an asset Can be operated by hand Can take manual reading Constant speed can be used Equipment it controls can be operated in hand 50% of capacity available after failure of an asset 50% of capacity available after failure of an asset 50% of capacity available after failure of an asset 50% of capacity available after failure of an asset % Backup 75-80% of capacity available after failure of an asset 80% Backup 80% of capacity available after failure of an asset 100% Backup One complete redundant system % Backup Two complete redundant systems 0.02 >200% Backup More than two complete redundant systems
49 SIMPLE (WERF & WRF)
50 Tolerable risk tool Organization: Sunshine City Department: BSK WWTP Date of Analysis: June 10, 2014 Analysis ID: 01 1 Enter the maximum COF score of the scale you are using: Enter the minimum COF score of the scale you are using: 1.0 Input framework boundaries 3 Enter the maximum POF score of the scale you are using: Enter the minimum POF score of the scale you are using: The pre-determined non-tolerable COF score (upper limit): The pre-determined tolerable COF score (lower limit): Select the POF score to determine non-tolerable risk: percent equivalent of the maximum POF score possible is recommended as default. Tolerable risk limits 8 Your non-tolerable risk is calculated as: Using the WERF BRE Tool, populate the fields on the sheet "Asset Data". Comparative Scenarios Scn ID Non-tol COF Tol COF Baseline < Active Scenario Lax Lax-->Baseline Baseline-->Conservative Conservative Scenario comparison 50
51 PoF Tolerable risk tool Tolerable risk chart - for active scenario EXAMPLE CoF Zone 1 Zone 2 Zone 3 Zone 4 Zone 5 Assets 51
52 Setting Tolerable Risk for Your Utility Where And How Would You Draw The Significant Risk Line? 52
53 Thank You! Gage Muckleroy, PE BCEE
Wastewater Asset Management Unique Perspectives from the Engineer & Municipality
Wastewater Asset Management Unique Perspectives from the Engineer & Municipality Alex Mattia GHD Charlie Card GHD Matt Lamb GHD Patrick Fellrath Plymouth Twp. 2018 Boyne Falls Agenda for today Introduction
More informationPACP Based Asset Management
PACP Based Asset Management Objectives of Asset Management Maintain function or level of service as cost effectively as possible Maintain individual components (assets) at lowest life cycle cost possible
More informationMONETIZING RISKS A PRIORITIZATION & OPTIMIZATION SOLUTION JASON DE STIGTER, P.E. 13 October 2014
13 October 2014 MONETIZING RISKS A PRIORITIZATION & OPTIMIZATION SOLUTION JASON DE STIGTER, P.E. SENIOR CONSULTANT SOUTHWEST SECTION AWWA ANNUAL CONFERENCE TULSA, OKLAHOMA TOP 5 INDUSTRY ISSUES MIDWEST
More information2016 Collection Systems Workshop. Asset Management for Small to Midsized Communities
2016 Collection Systems Workshop FISHBECK, THOMPSON, CARR & HUBER, INC. Asset Management for Small to Midsized Communities Ohio Water Environment Association May 18 2016 An asset management program identifies
More informationBCE Guidance. Advanced Wastewater Treatment Plant. Version 1.0
Sacramento Regional County Sanitation District Version 1.0 September 2012 Contents 1.0 Introduction... 1 1.1 Purpose... 1 1.2 Context... 1 1.3 BCE Overview... 1 1.4 Program Procedures for BCE... 2 2.0
More informationAsset Management Made Easy
Asset Management Made Easy Presented by: Gary Vaughan Date: April 17, 2014 1 My Background Gary Vaughan 40+ years Utility Experience 17 years Government 10 years private utility 13 Consultant WERF Strategic
More informationAMP2016. i t r i g e s t. c o w w w. p u b l i c s e c t o r d i g e s t. c o m. The 2016 Asset Management Plan for the Township of Hamilton
AMP2016 i t r i g e s t. c o w w w. p u b l i c s e c t o r d i g e s t. c o m The 2016 Asset Management Plan for the Township of Hamilton SUBMITTED BY THE PUBLIC SECTOR DIGEST INC. (PSD) WWW.PUBLICSECTORDIGEST.COM
More informationPractical Water Utility Asset Management Plans
Kevin Campanella, Utility Planning Leader, Burgess & Niple September, 2016 Practical Water Utility Asset Management Plans Inconsistency Treatment plants One tracked pencils, another didn t track small
More informationAsset Management and Condition Assessment Best Practices. Jeffrey Sanford 2/28/2013 Joseph Zalla Jeffrey Sanford February 1, 2013
Asset Management and Condition Assessment Best Practices Jeffrey Sanford 2/28/2013 Joseph Zalla Jeffrey Sanford February 1, 2013 Asset Management Definition Effective Asset Management is: An integrated
More informationRISK AND OPPORTUNITY ASSESSMENT GUIDE RISK CRITERIA
RISK AND OPPORTUNITY ASSESSMENT GUIDE RISK ASSESSMENT GUIDE TABLE OF CONTENTS 1. PURPOSE... 3 2. SCOPE... 3 3. RELATED DOCUMENTS... 3 4. PROCEDURE... 3 5. RISK MANAGEMENT PROCESS... 3 6. STEP 1 RISK ANALYSIS...
More informationChapter 8: Lifecycle Planning
Chapter 8: Lifecycle Planning Objectives of lifecycle planning Identify long-term investment for highway infrastructure assets and develop an appropriate maintenance strategy Predict future performance
More informationEVENT OPERATIONS RISK ASSESSMENT WORKSHEET
EVENT DETAILS Client to complete Event name: Event date: Event no: (ICC Sydney to complete) Stand no: Event location: ASSESSMENT DETAILS Client to complete Description of Event/ Activity Assessed: ID:
More informationCNAM Risk Management for Utility Managers
CNAM 2013 Heather McGinnity PEng. Region of Peel Project Manager Roop Lutchman, PEng. GHD Leader, Business Consulting May 07 th, 2013 Agenda 1. Introduction 2. Risk Management Framework 3. Case Study (Lake
More informationMultisector Asset Management Case Studies CHAPTER 5 THE PORTLAND, OREGON, EXPERIENCE
56 Multisector Asset Management Case Studies CHAPTER 5 THE PORTLAND, OREGON, EXPERIENCE The City of Portland (City) with a population of 568,000 comprises an area of approximately 145 square miles in north-western
More informationIntroduction to Risk for Project Controls
Introduction to Risk for Project Controls By Eukeni Urrechaga, PE Quick view at Project Controls Project Controls, like project management, is much an art as it is a science. The secret of good project
More informationRisk Management Framework. Group Risk Management Version 2
Group Risk Management Version 2 RISK MANAGEMENT FRAMEWORK Purpose The purpose of this document is to summarise the framework which Service Stream adopts to manage risk throughout the Group. Overview The
More informationWastewater Utilities. FY Budget Presentation
Utilities FY 2018-19 Budget Presentation 1 Volume Forecast Wastewater Customers by Class Fiscal Year Residential Commercial Wholesale Total Growth 2013 26,995 1.1% 3,091 0.8% 4 30,090 1.1% 2014 27,548
More informationRisk management procedures
Purpose and scope In accordance with the BizOps Enterprises risk management policy, these procedures describe the organisation s standard process for risk management, including: 1. Risk identification
More informationAn Inclusive and Data-Rich Approach to Infrastructure Development
Network-Level Analysis An Inclusive and Data-Rich Approach to Infrastructure Development By Israr Ahmad and John Murray The state of a community s capital infrastructure is inextricably linked with its
More informationCITY OF ALHAMBRA UTILITIES DEPARTMENT SEWER SYSTEM MAINTENANCE PROGRAM (SSMP)
CITY OF ALHAMBRA UTILITIES DEPARTMENT SEWER SYSTEM MAINTENANCE PROGRAM (SSMP) APRIL 2009 Table of Contents INTRODUCTION... 3 SECTION I: GOALS... 3 SECTION II: ORGANIZATION... 4 SECTION III: LEGAL AUTHORITY...
More informationRisk Management Policy and Framework
Risk Management Policy and Framework Risk Management Policy Statement ALS recognises that the effective management of risks is a fundamental component of good corporate governance and is vital for the
More informationFor more on AWWA Membership, visit
AWWA is pleased to offer a complimentary copy of the Portland Water Bureau Asset Management case study to interested individuals. This offering is part of a collection of case studies in an AWWA Report
More informationDocumentation Control. Hazard Identification, Risk Assessment and Management Procedure. (This document is linked GG/CM/007- Risk Management Policy)
Documentation Control Reference: Date approved: 24 November 2016 Approving Body: (This document is linked GG/CM/007- Risk Management Policy) Trust Board (Medical Director) Implementation Date: 24 November
More informationRisk Management Framework
Risk Management Framework Anglican Church, Diocese of Perth November 2015 Final ( Table of Contents Introduction... 1 Risk Management Policy... 2 Purpose... 2 Policy... 2 Definitions (from AS/NZS ISO 31000:2009)...
More informationGOV : Enterprise Risk Management Policy
Name: Responsibility: Complements: Enterprise Risk Management Framework Coordinator, Enterprise Risk Management GOV-080-005: Enterprise Risk Management Policy Draft Date: November 2006; January 2012 Revised
More informationAMP2016. County of Grey. The 2016 Asset Management Plan for the. w w w. p u b l i c s e c t o r d i g e s t. c o m
AMP2016 w w w. p u b l i c s e c t o r d i g e s t. c o m The 2016 Asset Management Plan for the County of Grey SUBMITTED BY THE PUBLIC SECTOR DIGEST INC. (PSD) WWW.PUBLICSECTORDIGEST.COM JULY 2017 Contents
More informationJob Safety Analysis Preparation And Risk Assessment
Job Safety Analysis Preparation And Risk Assessment Sample Only Reference CPL_PCR_JSA_Risk_Assessment Revision Number SAMPLE ONLY Document Owner Sample Date 2015 File Location Procedure Revision Date Major
More informationMunicipal Asset Management Plans
Municipal Asset Management Plans AMCTO Webinar October 12, 2012 Agenda Introduction Municipal Infrastructure Investment Initiative Asset Management Scoping Asset Management Approaches State of Local Infrastructure
More informationFundamentals of Asset Management. Step 9. Determine Funding Strategy A Hands-On Approach
Fundamentals of Asset Management Step 9. Determine Funding Strategy A Hands-On Approach Tom s bad day Fundamentals of Asset Management 2 Fifth of 5 core questions 5. What is my best long-term funding strategy?
More informationControlling Risk Ranking Variability Using a Progressive Risk Registry
Controlling Risk Ranking Variability Using a Progressive Risk Registry 32nd Annual National VPPPA Safety & Health Conference/Expo September 1, 2016 Agenda What is a Progressive Risk Registry? How does
More informationRisk Management Framework. Metallica Minerals Ltd
Risk Management Framework Metallica Minerals Ltd Risk Management Framework 23 March 2012 Table of Contents Contents 1. Introduction... 3 2. Risk Management Approach... 3 3. Roles and Responsibilities...
More informationAn Update On Association Policies, Health Checks & Guidelines To A Safer Hockey Association. Lauren Woods Member Engagement & Operations
An Update On Association Policies, Health Checks & Guidelines To A Safer Hockey Association Lauren Woods Member Engagement & Operations Association Health Checks Issues arising from the health check: 3/27
More informationRISK MANAGEMENT GUIDELINES
RISK MANAGEMENT GUIDELINES Purpose of Guidelines These guidelines outline the way South West Healthcare operates its Risk Management Program and are to assist the organisation, its divisions, departments
More informationThe Concept of Risk and its Role in Rational Decision Making on Nuclear Safety Issues
The Concept of Risk and its Role in Rational Decision Making on Nuclear Safety Issues George Apostolakis Head, Nuclear Risk Research Center apostola@criepi.denken.or.jp NRRC Symposium September 2, 1 1
More informationBusiness Auditing - Enterprise Risk Management. October, 2018
Business Auditing - Enterprise Risk Management October, 2018 Contents The present document is aimed to: 1 Give an overview of the Risk Management framework 2 Illustrate an ERM model Page 2 What is a risk?
More informationCost Risk Assessment Building Success and Avoiding Surprises Ken L. Smith, PE, CVS
Cost Risk Assessment Building Success and Avoiding Surprises Ken L. Smith, PE, CVS 360-570-4415 2015 HDR, Inc., all rights reserved. Addressing Cost and Schedule Concerns Usual Questions Analysis Needs
More informationComparison of Two Industrial Quantitative Risk Analyses Using the OECD Risk Assessment Dictionary/Thesaurus
Comparison of Two Industrial Quantitative Risk Analyses Using the OECD Risk Assessment Dictionary/Thesaurus Dennis C. Hendershot Rohm and Haas Company PO Box 584 Bristol, PA 19007 EMail: nagdh@rohmhaas.com
More informationRisk Management Strategy
Risk Management Strategy 2016 2019 Version: 6 Policy Lead/Author & Deputy Director of Quality position: Ward / Department: Nursing Directorate Replacing Document: Version 5 Approving Committee Quality
More informationClimate Change Adaptation Plan for Choiseul Bay Township, Solomon Islands
Climate Change Adaptation Plan for Choiseul Bay Township, Solomon Islands Dr Philip Haines and Ms Shannon McGuire Sustainable Engineering Society - Technical Session 17 March 2015 1 Presentation outline
More informationNew Strategies for Prioritizing Old Projects Using Risk and Triple Bottom Line Criteria Presenter: Celine Hyer, PE ARCADIS/Malcolm Pirnie 5/23/2012
New Strategies for Prioritizing Old Projects Using Risk and Triple Bottom Line Criteria Presenter: Celine Hyer, PE ARCADIS/Malcolm Pirnie 5/23/2012 Today s Agenda Overview of Toho Water Authority Risk
More informationChapter 7: Risk. Incorporating risk management. What is risk and risk management?
Chapter 7: Risk Incorporating risk management A key element that agencies must consider and seamlessly integrate into the TAM framework is risk management. Risk is defined as the positive or negative effects
More informationRISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS
RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS Presenter CLAIRE GOMEZ MILLER CIA CRMA FCCA CA BOARD DIRECTOR/AUDITCOMMITTEE MEMBER UNITEDINDEPENDENT PETROLEUM MARKETING COMPANY LIMITED TRINIDAD AND TOBAGO
More informationMUNICIPALITY OF CHATHAM-KENT CORPORATE SERVICES
MUNICIPALITY OF CHATHAM-KENT CORPORATE SERVICES TO: FROM: Mayor and Members of Council Gerry Wolting, B. Math, CPA, CA General Manager, Corporate Services DATE: January 13, 2014 SUBJECT: 2013 Asset Management
More informationclient user GUIDE 2011
client user GUIDE 2011 STEP ACTION Accessing Risk Register 1. Type https://www.scm rms.ca/riskregister/login.aspx 2. Click in the Username field on the Risk Register home page. 3. Type your Username and
More informationRISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS
RISK MANAGEMENT - CORPORATE COMPLIANCE & ETHICS Presenter CLAIRE GOMEZ MILLER CIA CRMA FCCA CA BOARD DIRECTOR/AUDIT COMMITTEEMEMBER UNITEDINDEPENDENTPETROLEUM MARKETINGCOMPANYLIMITED TRINIDAD AND TOBAGO
More informationApproved by: Diocesan Council 17 December 2015
DIOCESAN COUNCIL POLICY 39 Risk Management Approved by: Diocesan Council 17 December 2015 1 PREAMBLE The Perth Diocesan Trustees under the authority of the Diocesan Trustees Statute 1952 have the responsibility
More informationRisk Management Strategy
Risk Management Strategy Document Reference MLCSU CA_WL_V3 Version 3 Authors: Donna Bamber, Midlands & Lancashire Commissioning Support Unit Senior Risk Officer Smita Shetty, Service Redesign Manager,
More informationRisk Assessment Mitigation Phase Risk Mitigation Plan Lessons Learned (RAMP B) November 30, 2016
Risk Assessment Mitigation Phase Risk Mitigation Plan Lessons Learned (RAMP B) November 30, 2016 #310403 Risk Management Framework Consistent with the historic commitment of Southern California Gas Company
More informationRisk Management Framework
Risk Management Framework Introduction The outgoing Corporate Strategy 2013-18 and incoming University Strategy 2018-23 continues on a trajectory towards Vision 2025 in an increasingly competitive Higher
More informationEnterprise Risk Management for Water Utilities. Justin Carlton, CMA, MBA Financial Analyst Tualatin Valley Water District
Enterprise Risk Management for Water Utilities Justin Carlton, CMA, MBA Financial Analyst Tualatin Valley Water District Enterprise Risk Management for Water Utilities Washington County, Oregon 2 Presentation
More informationStormwater System Asset Management Plan. June 2018
Stormwater System Asset Management Plan June 2018 City Council Citizens, stakeholders Strategic Priorities Level of Service Goals Performance Measures What actions are needed to meet Level of Service Goals
More informationRisk Assessment Policy
Risk Assessment Policy Updated: April 2018 Date of next Review: April 2019 Policy Lead: Bursar Checked by: Middle Leadership Team 1. INTRODUCTION Beachborough School will have hazards which if not controlled
More informationManaging Project Risks. Dr. Eldon R. Larsen, Marshall University Mr. Ryland W. Musick, West Virginia Division of Highways
Managing Project Risks Dr. Eldon R. Larsen, Marshall University Mr. Ryland W. Musick, West Virginia Division of Highways Abstract Nearly all projects have risks, both known and unknown. Appropriately managing
More informationRISK MANAGEMENT FRAMEWORK
RISK MANAGEMENT FRAMEWORK 1. INTRODUCTION (Company) acknowledges that risk is inherent in its business. The Company faces a broad range of risks as a listed entertainment organisation. The Company s risk
More informationFire. Service Area Asset Management Plan. Town of Whitby. Town of Whitby Fire Service Area Asset Management Plan DECEMBER 2017 ASSET HEALTH GRADE
Town of Whitby Service Area Asset Management Plan Fire DECEMBER 2017 ASSET HEALTH GRADE A FINANCIAL CAPACITY GRADE D KEY PERFORMANCE INDICATOR = Contents Executive Summary 6 1. Introduction 8 1.1 What
More informationWater Service Asset Management Plan
Water Service Asset Management Plan November 2016 Joel Shaw, P.Eng. 1435 Water Street Kelowna, BC V1Y 1J4 TEL (250) 469-8739 jshaw@kelowna.ca kelowna.ca Document Control Rev No Date Revision Details Author
More informationAnalytics across the asset life cycle
Analytics across the asset life cycle Analytics provides a powerful look forward so that asset rich organisations can chose to react or not to react with changes to the conditions and environment that
More informationRISK MANAGEMENT POLICY AND STRATEGY
1 RISK MANAGEMENT POLICY AND STRATEGY Version No: Reason for Update Date of Update Updated By 1 Review Timeframe September 2014 2 Review June 2017 Governance Manager Governance Manager 3 4 5 6 7 8 Introduction
More informationProject Risk Management. Prof. Dr. Daning Hu Department of Informatics University of Zurich
Project Risk Management Prof. Dr. Daning Hu Department of Informatics University of Zurich Learning Objectives Understand what risk is and the importance of good project risk management Discuss the elements
More informationEvent Risk Assessment Tool (ERAT) Version 2.0. Activity Being Assessed: RARE LIKELY ALMOST CERTAIN
Group Name: Date of Assessment: Activity Being Assessed: Review Assessment By: Referenced Documents (Legislation, Codes of Practice, Standards and Industry Guidelines etc): Persons Involved in the Conduct
More informationScouting Ireland Risk Management Framework
No. SID 124A/15 Gasóga na héireann/scouting Ireland Issued Amended 20 th June 2015 Deleted Source: National Management Committee Scouting Ireland Risk Management Framework Revision Date Description # 20/06/2015
More informationRisk Management Made Easy. I. S. Parente 1
Risk Management Made Easy I. S. Parente 1 1 Susan Parente, MS Engineering Management, PMP, CISSP, PMI-RMP, PMI-ACP, CSM, CSPO, PSM I, ITIL, RESILIA, CRISC, MS Eng. Mgmt.; S3 Technologies, LLC, Principal
More informationThe City of Owen Sound Asset Management Plan
The City of Owen Sound Asset Management Plan December 013 Adopted by Council March 4, 014 TABLE OF CONTENTS 1 EXECUTIVE SUMMARY... 1 INTRODUCTION....1 Vision.... What is Asset Management?....3 Link to
More informationDraft Environmental Impact Statement. Appendix G Economic Analysis Report
Draft Environmental Impact Statement Appendix G Economic Analysis Report Appendix G Economic Analysis Report Economic Analyses in Support of Environmental Impact Statement Carolina Crossroads I-20/26/126
More informationWednesday, March 2, 2016 Houston, TX. 11:00 a.m. 12:15 p.m. OCCUPATIONAL DISEASE EXPOSURES IN THE OIL & GAS INDUSTRY: BRINGING SAFETY TO THE SURFACE
Wednesday, March 2, 2016 Houston, TX 11:00 a.m. 12:15 p.m. OCCUPATIONAL DISEASE EXPOSURES IN THE OIL & GAS INDUSTRY: BRINGING SAFETY TO THE SURFACE Presented by Alex Beaver Energy Underwriting Consultant
More informationRISK MANAGEMENT FRAMEWORK
RISK MANAGEMENT FRAMEWORK Approving authority Approval date University Council 5 August 2013 (3/2013 meeting) Advisor Vice President (Corporate Services) vpcorporateservices@griffith.edu.au (07) 373 57343
More informationA Holistic Approach to Risk Management. Dono Tong & Jeff Chan
A Holistic Approach to Risk Management Dono Tong & Jeff Chan 1 Agenda Business Today & Tomorrow Evolution of Risk Management Process Risk Management in MTR 2 Business in the 21 st Century Changing Business
More informationUnderstanding Enterprise Risk Management: An Overview
Understanding Enterprise Risk Management: An Overview 05/2016 What is Risk? An uncertain event It exists in the future Has a cause and effect Impacts objectives Its effect may be positive and/or negative
More informationCORPORATE RISK MANAGEMENT POLICY
11/8/2017 INFORMAÇÃO INTERNA ÍNDICE 1 PURPOSE... 3 2 SCOPE... 3 3 REFERENCES... 3 4 CONCEPTS... 4 5 GUIDELINES... 6 6 RESPONSABILITIES... 8 7 CONTROL INFORMATION... 14 2 INFORMAÇÃO INTERNA 1 PURPOSE The
More informationRISK MANAGEMENT POLICY
RISK MANAGEMENT POLICY TABLE OF CONTENTS PAGE 1. BACKGROUND 3 2. MATERIAL BUSINESS RISK 3 3. RISK TOLERANCE 4 4. OUTLINE OF ARTEMIS RESOURCE LIMITED S RISK MANAGEMENT POLICY 5 5. RISK MANAGEMENT ROLES
More information12 GeV CEBAF Upgrade. Risk Management Plan
12 GeV CEBAF Upgrade Risk Management Plan May 29, 2007 12 GeV CEBAF Upgrade Risk Management Plan 1 Apr 05 ISSUE DATE PAGES AFFECTED DESCRIPTION Original CD-2 4/01/05 5/29/07 All All General update to maintain
More informationTopic RISK MANAGEMENT Procedure Category Risk Management Updated 07/2011
Topic RISK MANAGEMENT Procedure 07.01 Category Risk Management Updated 07/2011 RELATED POLICIES, PROCEDURES AND FORMS Policies Procedures Forms Risk Management Policy Code of Conduct Public Interest Disclosure
More informationIntroduction to Capital Planning Management Systems
Introduction to Capital Planning Management Systems Scottish Healthcare Conference 2013 Michael Kwok, P.Eng. MBA Senior Vice President, Professional Services Ray Dufresne, AIA Vice President, Consulting
More informationRisk Management Plan for the <Project Name> Prepared by: Title: Address: Phone: Last revised:
for the Prepared by: Title: Address: Phone: E-mail: Last revised: Document Information Project Name: Prepared By: Title: Reviewed By: Document Version No: Document Version Date: Review Date:
More informationRisk Management. Webinar - July 2017
Risk Management Webinar - July 2017 Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small Adapted and Facilitated by: Professor Enslin J. van Rooyen Risk Management - June 2017 2 Defining Risk
More informationRisk versus Reward. Responsibilities
Slide 1 Risk versus Reward "Dynamic Risk Assessment" (DRA) National Fallen Fire Fighters Foundation Sean DeCrane, Battalion Chief Cleveland (OH) Fire Department During the funeral ceremony, Charleston,
More informationRisk Management. Seminar June Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small
Risk Management Seminar June 2017 Compiled by: Raaghieb Najjaar, Yaeesh Yasseen & Rashied Small Defining Risk Risk reflects the chance that the actual event may be different than the planned / expected
More informationWATER ASSET MANAGEMENT PLAN
WATER ASSET MANAGEMENT PLAN Georgetown Charter Township Ottawa County, Michigan November 2017 Where we re going: System Goals INTRODUCTION About this Document This document is our Water Asset Management
More informationENTERPRISE RISK MANAGEMENT (ERM) GOVERNANCE POLICY PEDERNALES ELECTRIC COOPERATIVE, INC.
1. Purpose: 1.1. Pedernales Electric Cooperative ( PEC ) is committed to delivering low-cost, reliable and safe energy solutions for the benefit of our members. In order to improve the likelihood of achieving
More informationRisk Management at Central Bank of Nepal
Risk Management at Central Bank of Nepal A. Introduction to Supervisory Risk Management Framework in Banks Nepal Rastra Bank(NRB) Act, 2058, section 35 (a) requires the NRB management is to design and
More informationThe Scope and Nature of Occupational Health and Safety
Element 1: Foundations in Health and Safety The Scope and Nature of Occupational Health and Safety The study of health and safety involves the study of many different subjects including the sciences (chemistry,
More informationFundamentals of Project Risk Management
Fundamentals of Project Risk Management Introduction Change is a reality of projects and their environment. Uncertainty and Risk are two elements of the changing environment and due to their impact on
More informationFundamentals of Asset Management. Step 4. Determine Life Cycle & Replacement Costs A Hands-On Approach
Fundamentals of Asset Management Step 4. Determine Life Cycle & Replacement Costs A Hands-On Approach Tom s bad day Fundamentals of Asset Management 2 First of 5 core questions, continued 1. What is the
More informationCriteria for Establishing Objectives & Targets
Impacts and Hazards Projects Alignment Process Criteria for Establishing Objectives & Targets Legal & Other Requirements Legal & Other Requirements 2 14 Technological Options 1 1 2 1 8 Financial 1 1 1
More informationRISK MANAGEMENT STRATEGY Version 3
RISK MANAGEMENT STRATEGY Version 3 Risk Management Strategy V3 - March 2018 1 Standard Operating Procedure St Helens CCG Risk Management Strategy Version 3.0 Implementation Date September 2014 Review Date
More informationRISK MANAGEMENT FRAMEWORK
Risk Management Framework RISK MANAGEMENT FRAMEWORK Purpose This Risk Management Framework introduces St. Michael s College s approach to risk management. It includes a definition of risk, a summary of
More informationKidsafe NSW Risk Management Plan. August 2014
Kidsafe NSW Risk Management Plan August 2014 Document Control Document Approval Name & Position Signature Date Document Version Control Version Status Date Prepared By Comments Document Reviewers Name
More informationA Global Trend In Local Government
Enterprise Risk Management A Global Trend In Local Government By James J. Kline and Greg Hutchins Risks prevent an organization from achieving its goals. Organizations benefit when management successfully
More informationPolicy Number Functional Field. Governance and Management. Related Policies. Policy of Making University Policies.
Policy Title Risk Management Policy Policy Number -0 Functional Field Related Policies Responsibility of Issuing Office Governance and Management Policy of Making University Policies Risk Management Office
More informationAsset Management Plan 2016 Township of King
Asset Management Plan 206 Township of King GHD Allstate Parkway Suite 30 Markham Ontario L3R 9T8 T 905 752 4300 F 905 752 430 5432 Table of Contents. 2. 3. 4. 5. 6. Executive Summary. Introduction.2 State
More informationHSC Business Services Organisation Board
Paper BSO 25/2009 HSC Business Services Organisation Board Risk Management 1. Purpose of this report The purpose of this report is to brief the Board on the BSO Risk Management process. 2. Background HSC
More informationRisk Management Framework
Risk Management Framework Risk Management Framework 1. The University views Risk Management as integral to the successful execution of its Strategy. In order to achieve the aims set out in our strategy,
More informationHAZARD MANAGEMENT POLICY Page 1 of 7 Reviewed: October 2018
Page 1 of 7 Policy Applies to: The Board of Directors, staff employed by Mercy Hospital, Credentialed Specialists, Allied Health Professionals, contractors, students, volunteers and visitors. Related Standards:
More informationEfficient Capital Replacement Planning The Economic Optimization Approach. March 26, 2018
Efficient Capital Replacement Planning The Economic Optimization Approach March 26, 2018 DO YOU HAVE AGING INFRASTRUCTURE? Dahuloe Break the old paradigms How Long does a Sewer Main Last? -Clay Pipe -Cast
More informationRisk Management Performance Metrics for Manufacturers Managing Employee Capital
Hanover Manufacturers Advantage Risk Management Performance Metrics for Manufacturers Managing Employee Capital Maintaining consistent and efficient throughput is crucial to any manufacturers bottom line.
More informationSUSTAINABLE DESIGN Legal Implications and Liability Risks for Engineers
SUSTAINABLE DESIGN Legal Implications and Liability Risks for Engineers Paul M. Mannix, Esquire Wayman, Irvin & McAuley SUSTAINABLE DESIGN Leadership in Energy and Environmental Design (LEED) Green Globes
More informationAppendices to NCHRP Research Report 903: Geotechnical Asset Management for Transportation Agencies, Volume 2: Implementation Manual
Appendices to NCHRP Research Report 903: Geotechnical Asset Management for Transportation Agencies, Volume 2: Implementation Manual This document contains the following appendices to NCHRP Research Report
More informationRISK ASSESSMENT. A Practical Guide to Assessing. Operational Risks. Edited by GEORGI POPOV BRUCE K. LYON BRUCE HOLLCROFT. WlLEY
RISK ASSESSMENT A Practical Guide to Assessing Operational Risks Edited by GEORGI POPOV BRUCE K. LYON BRUCE HOLLCROFT WlLEY CONTENTS Preface Foreword List of Contributors About the Companion Websites xvii
More informationOverview of Asset Management s 5 Core Components
Overview of Asset Management s 5 Core Components When you know better you do better Maya Angelou THE AM THOUGHT PROCESS CONSISTS OF 5 CORE COMPONENTS Moderate Risk High Risk Low Risk Moderate Risk Probability
More informationRISK MANAGEMENT FRAMEWORK
RISK MANAGEMENT FRAMEWORK 1 RISK MANAGEMENT FRAMEWORK... 1 INTRODUCTION... 3 AN EFFECTIVE ENTERPRISE RISK MANAGEMENT SYSTEM... 4 Guiding Principles... 4 RISK GOVERNANCE... 5 Mandate and Commitment... 5
More information