Risk management can assist an operator or company to clearly understand the risks associated with a particular infrastructure asset, such as a gas plant, offshore platform or a waste management facility.
The application of risk management can also allow industry to analyse the regulatory, economic and societal risks during their annual and strategic planning for infrastructure. This will assist them in prioritising projects while ensuring risks are identified and managed. Risk management techniques can also assist companies to review their policies and make changes as appropriate for their risk profile. These enable the consideration of regulatory, environmental, societal or economic risk associated with a particular resource and are part of the Risk Management value continuum.
Risk Management Value Continuum:
