Municipal Infrastructure Strategic Risks
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1 Municipal Infrastructure Strategic Risks An Exploration of Municipal Infrastructure Risk within the Province of Newfoundland and Labrador Tom Cooper Ph.D
2 Overview As more organizations both private and public - are focusing on systemic and controllable risks, a question emerges as to how this fits within a public sector organization particularly a municipality in managing its strategic objectives? How does a public sector organization manage strategic risks? Can we identify the risk factors? Can we mitigate those risks? What are the financial implications? The purpose of our study is to examine municipal infrastructure risk in the province of Newfoundland and Labrador
3 Overview Province of Newfoundland and Labrador will be facing substantial strategic risks in the coming years Growth overall in public sector risks (Hood and McGavery 2002) Should resources be invested in municipal governments that cannot be economically and administratively sustainable? What are the risks in not managing the potential windfall from oil and gas revenue? How are infrastructure risks being addressed by municipalities? How are infrastructure risks being planned for identified, managed and monitored?
4 Risk Background Risk is unavoidable and present in virtually every human situation. It is present in our daily lives, public and private sector organizations. Risk refers to the uncertainty that surrounds future events and outcomes. It is the expression of the likelihood and impact of an event with the potential to influence the achievement of an organization's objectives.
5 Risk Background - Definitions RISK is anything that may enhance or impede an organization's ability to achieve its current or future objectives RISK MANAGEMENT is the proactive mechanisms by which you exploit and manage risk Not just about higher risk, higher return - Focus is on the relative or risk adjusted return Risk- Adjusted Return Zone 1 Insufficient Risk Taking Zone 2 Optimal Risk Taking Zone 3 Excessive Risk Taking Risk
6 Study Approach Literature Review Interviews Newfoundland, Canada, Europe Content Analysis of 133 Municipal Plans Coding and Frequency Analysis of Risks Identified in Municipal Plans
7 Findings Table 1 - Risk Classifica0on and Frequency Classification of Risk Frequency of Risk Financial 4 Operational 21 Economic 42 Environmental 38 Legal 0 Political 2 Market 9 Social 15 Technological 1
8 Barriers in Municipal Strategic Risk and Planning Barriers based on content analysis and interviews v State of municipal planning documents v Lack of formalized approach and expertise v Lack of implementation Example - flood risk v Risk Management Culture
9 Municipal Infrastructure Municipal infrastructure may include: v Road infrastructure v Wastewater and Storm Water Collection and Drainage Systems v Water Distribution Systems v Land and Buildings v Heavy Equipment and Vehicles Beginning on January 1, 2008, in Newfoundland and Labrador all municipal infrastructure purchased, constructed or received by way of contribution must be recorded at actual cost.
10 Canadian Infrastructure Report Card Canada's municipal infrastructure is at risk, with more than half of municipal roads requiring significant repairs and one in four wastewater plants needing major upgrades. The report card, which surveyed more than 120 municipalities representing 60% of the Canadian population, says more than half of municipal roads are falling apart beneath our tires. One in four roads is over capacity, transporting far more people and goods than it was designed to handle. And one in four wastewater treatment plants needs to be upgraded or replaced to meet new federal standards introduced this summer, at a cost of at least $20 billion. Federation of Canadian Municipalities
11 Canadian Infrastructure Report Card
12 Current Study Review good practice in managing municipal infrastructure risk v Norway v Australia v Other parts of Canada (Ontario, Alberta) Content analysis of Tangible Capital Assets Financial Statements v Can we determine the major risks emerging? v What are some of the scenarios emerging? How are planning issues addressed within municipal infrastructure? Can we develop a framework for planning and managing municipal infrastructure risk?
13 Challenges Facing Municipal Infrastructure Determining the best (or optimal) time to rehabilitate/repair/replace aging assets. Increasing demand for services. Overcoming resistance to rate increases. Diminishing resources. Rising service expectations of customers. Increasingly stringent regulatory requirements. Responding to emergencies as a result of asset failures. Protecting assets. (Source: USEPA 2008)
14 Benefits of Managing Municipal Infrastructure Risk Prolonging asset life and aiding in rehabilitate/ repair/replacement decisions through efficient and focused operations and maintenance. Meeting consumer demands with a focus on system sustainability. Setting rates based on sound operational and financial planning. Budgeting focused on activities critical to sustained performance. Meeting service expectations and regulatory requirements. Improving response to emergencies. Improving security and safety of assets. Source: USEPA 2008
15 Five Core Risks Facing Municipal Infrastructure Infrastructure Risk Adapted from USEPA 2008
16 Conclusions Managing infrastructure risk not just about reliability or technical issues also around identification, assessment and planning Tangible assets and intangible issues Strategies need to be developed about how to best manage and understand infrastructure risk whether accept, transfer or mitigate the risks Planning both technical, financial and strategic needs to be done to benefit from municipal infrastructure
17 Thank You Questions Contact Details Tom Cooper Faculty of Business Administration Memorial University St. John s, NL A1B 3X5 Also on Linked In Thomas Cooper
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