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Benchmarking Risk Management Within the International Water Utility Sector. Part II: A Survey of Eight Water Utilities

Author

Listed:
  • B. H. MacGillivray
  • J. V. Sharp
  • J. E. Strutt
  • P. D. Hamilton
  • S. J. T. Pollard

Abstract

Risk management in the water utility sector is fast becoming explicit. Here, we describe application of a capability model to benchmark the risk management maturity of eight water utilities from the UK, Australia and the USA. Our analysis codifies risk management practice and offers practical guidance as to how utilities may more effectively employ their portfolio of risk analysis techniques for optimal, credible, and defensible decision making. For risk analysis, observed good practices include the use of initiation criteria for applying risk assessment techniques; the adoption of formalised procedures to guide their application; and auditing and peer reviews to ensure procedural compliance and provide quality assurance. Additionally, we have identified common weaknesses likely to be representative of the sector as a whole, in particular a need for improved risk knowledge management and education and training in the discipline.

Suggested Citation

  • B. H. MacGillivray & J. V. Sharp & J. E. Strutt & P. D. Hamilton & S. J. T. Pollard, 2007. "Benchmarking Risk Management Within the International Water Utility Sector. Part II: A Survey of Eight Water Utilities," Journal of Risk Research, Taylor & Francis Journals, vol. 10(1), pages 105-123, January.
    • Handle: RePEc:taf:jriskr:v:10:y:2007:i:1:p:105-123
    DOI: 10.1080/13669870601011191
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    Cited by:

    1. Svana Helen Björnsdottir & Pall Jensson & Saemundur E. Thorsteinsson & Ioannis M. Dokas & Robert J. de Boer, 2022. "Benchmarking ISO Risk Management Systems to Assess Efficacy and Help Identify Hidden Organizational Risk," Sustainability, MDPI, vol. 14(9), pages 1-33, April.
    2. Unger, C.J. & Lechner, A.M. & Kenway, J. & Glenn, V. & Walton, A., 2015. "A jurisdictional maturity model for risk management, accountability and continual improvement of abandoned mine remediation programs," Resources Policy, Elsevier, vol. 43(C), pages 1-10.
    3. Aristi Karagkouni & Dimitrios Dimitriou, 2022. "Sustainability Performance Appraisal for Airports Serving Tourist Islands," Sustainability, MDPI, vol. 14(20), pages 1-16, October.
    4. Hatem Elleuch & Wafik Hachicha & Habib Chabchoub, 2014. "A combined approach for supply chain risk management: description and application to a real hospital pharmaceutical case study," Journal of Risk Research, Taylor & Francis Journals, vol. 17(5), pages 641-663, May.

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