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Risk Matrix

Risk is managed by a combination of:

  • Reducing the probability of the failure, through the capital and maintenance work program and enhanced working practices
  • Reducing the impact of failure, through contingency and emergency plan development

Management of risk is undertaken by the asset management team, which directs the identification, analysis, prioritization and treatment of risks across the organization. Organization should have a suite of contingency plans in place developed under the framework of risk reduction, readiness, response and recovery.

 

 
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