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Benchmarking Risk Management Within the International Water Utility Sector. Part I: Design of a Capability Maturity Methodology

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  • 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 becoming increasingly explicit. However, due to the novelty and complexity of the discipline, utilities are encountering difficulties in defining and institutionalising their risk management processes. In response, the authors have developed a sector specific capability maturity methodology for benchmarking and improving risk management. The research, conducted in consultation with water utility practitioners, has distilled risk management into a coherent, process-based framework. We identified eleven risk management processes, and eight key attributes with characterise the extent to which these processes are defined, controlled and institutionalised. Implementation of the model should enable utilities to more effectively employ their portfolio of risk analysis techniques for optimal, credible and defensible decision making.

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 I: Design of a Capability Maturity Methodology," Journal of Risk Research, Taylor & Francis Journals, vol. 10(1), pages 85-104, January.
    • Handle: RePEc:taf:jriskr:v:10:y:2007:i:1:p:85-104
    DOI: 10.1080/13669870601011183
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    Cited by:

    1. 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.
    2. Aristi Karagkouni & Dimitrios Dimitriou, 2022. "Sustainability Performance Appraisal for Airports Serving Tourist Islands," Sustainability, MDPI, vol. 14(20), pages 1-16, October.
    3. 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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