Assessing interdependent operational, tactical and strategic risks for improved utility master plans

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dc.contributor.authorLuís, Ana
dc.contributor.authorLickorish, Fiona A.
dc.contributor.authorPollard, Simon J. T.
dc.date.accessioned2019-11-14T15:36:26Z
dc.date.available2019-11-14T15:36:26Z
dc.date.issued2015-02-20
dc.description.abstractRisk management plays a key role in water utilities. Although risk tools are well-established at operational levels, approaches at the strategic level are rarely informed by systemic assessments of the water supply and lack a long-term perspective. Here, we report a baseline strategic risk analysis, founded on a systemic analysis of operational risks developed ‘bottom-up’ and validated in a large water utility. Deploying an action-oriented research method, supported by semi- structured interviews with in-house water utility risk experts, deep connections are established between operational risk and strategic risk that surpass those existing elsewhere in the sector. Accessible presentational formats – influence diagrams, risk ”heat-maps” and supporting narratives are used to promote Board-level risk discussions, and characterise a baseline set of strategic risks core to forward utility master planning. Uniquely, the influence of operational events, exposures and potential harms, together with the mitigating measures in place to mediate these risks are linked to corporate objectives on business sustainability, profitability, water quality, water quantity, supply disruption and reputation.en_UK
dc.identifier.citationLuís A, Lickorish F, Pollard S. (2015) Assessing interdependent operational, tactical and strategic risks for improved utility master plans. Water Research, Volume 74, May 2015, pp. 213-226en_UK
dc.identifier.cris5245297
dc.identifier.issn0043-1354
dc.identifier.urihttps://doi.org/10.1016/j.watres.2015.02.021
dc.identifier.urihttp://dspace.lib.cranfield.ac.uk/handle/1826/14735
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectStrategic risk analysisen_UK
dc.subjectInterdependent risksen_UK
dc.subjectCognitive mappingen_UK
dc.subjectMaster planningen_UK
dc.titleAssessing interdependent operational, tactical and strategic risks for improved utility master plansen_UK
dc.typeArticleen_UK

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