Risk analysis and management in the water utility sector - a review of drivers, tools and techniques

Abstract

The provision of wholesome, affordable and safe drinking water that has the trust of customers is the goal of the international water utility sector. Risk management, in terms of protecting the public health from pathogenic and chemical hazards has driven and continues to drive developments within the sector. In common with much of industry, the water sector is formalizing and making explicit approaches to risk management and decision-making that have formerly been implicit. Here, we review the risk management frameworks and risk analysis tools and techniques used within the water sector, considering their application at the strategic, programme and operational levels of decision- making. Our analysis extends the application beyond that of public health to issues of financial risk management, reliability and risk-based maintenance and the application of business risk maturity models.