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Operational risk: the focus for major infrastructure ?

Record type: Article

This paper summarises findings from an ICE funded scoping study into the importance of operational risk, the underlying risk drivers and the factors that influence its effective management.
The core of the study comprised a programme of interviews undertaken in 2008 with experienced industry practitioners in four sectors: energy, transport (road and rail), material resources and waste management, and water (supply and wastewater). This confirmed the central importance of operational risk, and identified issues affecting its more effective identification and management.
An important conclusion is that existing practice needs to be improved substantially, by focusing on managing uncertainty (not just adverse events) with the objective of improving performance. This needs to encompass policy and business-as-usual operations and new-build project development. A wider role for civil engineers is desirable

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Citation

Allport, Roger James and Ward, Stephen (2010) Operational risk: the focus for major infrastructure ? Proceedings of the Institution of Civil Engineers: Management , procurement and law, 163, (3), pp. 121-127. (doi:10.1680/mpal.2010.163.3.121).

More information

Published date: 2010
Organisations: Southampton Business School

Identifiers

Local EPrints ID: 80446
URI: http://eprints.soton.ac.uk/id/eprint/80446
ISSN: 1751-4304
PURE UUID: 53d4f837-7ddc-4ccf-9648-38a9f41f86de

Catalogue record

Date deposited: 24 Mar 2010
Last modified: 18 Jul 2017 23:13

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Contributors

Author: Roger James Allport
Author: Stephen Ward

University divisions


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