Risk Management Implementation

Depending on the complexity of the issues involved, implementing risk management for infrastructure assets should commence with awareness raising and training of staff in the basic principles of risk management.

The implementation of full risk management will take many years to reach a level of confidence to offset its liabilities through better insurance policies etc. However, throughout this time negotiations should be undertaken with the organizations insurers to get the best results for both parties in the implementation of advanced risk systems.

As stated earlier, no organization can completely avoid failure and therefore failure management plans and strategies need to be developed for those assets that will fail. Failure management plans need to develop strategies by which the organization can reduce the impact on a failure on both itself as a business and its customers.