As you have identified the risk and the extent of the impact you can now start to consider ways to manage the risk and develop a strategy to be implemented. The key is that the risk indicators should be fairly easily identifiable attributes of the project that do have a correlation with project risk. One would require that the higher risk projects have a higher rate of return than lower risk projects.
Environmental impact management - considers the location, scale and risk of potential impacts, options and alternatives. Adaptation assessment identifies, plans, prioritizes, implements, and measures transportation management options available for effectively adapting to climate change impacts. This study finds highways, ports, and rail infrastructure are particularly vulnerable to projected sea level rise and future storm surges (see Table 2 for sample results).
The concept of risk is not new to transportation planners, designers, engineers, managers, community stakeholders and policymakers; however, the application of risk assessment methods in the context of climate change is relatively new. In contrast to managing seismic risks, climate change impacts usually involve complex interactions of multiple climate-related effects.
This framework draws upon UK climate projections and practical templates, schedules, and guidance of assessments for vulnerability, risk, and adaptation options. Step 5 and 6 then prioritize the results of step 4 determining the timescales for action and highlighting the priority areas requiring early involvement through adaptation strategies (see Table 6). This report includes a Tier I infrastructure risk assessment for Victoria , Australia and implements the New Zealand risk management guidebook (NZCOO, 2004). This approach represents a partial probabilistic risk assessment (Tier 2) while building upon elements of the Tier 1 approaches. Conduct ongoing assessments and prioritization of retrofit needs and include additional bridges in the retrofit program as needed. Select and Prioritize Actions.Adaptation assessments may identify a wide variety of potential options for considered action. Guarantee the safety and well-being of Maryland 's citizens in times of foreseen and unforeseen risk. There is little that the author can offer to mitigate the effects of human beings’ need for challenge, but we believe there is an opportunity to simply modify the IT investment process to make it more sensitive to risk. Many times this assessment will quantify the product of the probabilities of exposure and vulnerability.
The future climate change effects within the assessment area are projected to a particular time period to determine the potential changes in relevant climate variables and climate variability (Mehdi et al., 2006).
A sample of the vulnerability assessment findings of the percent of highway facilities vulnerable to relative sea level rise and storm surge impacts.
At present, risks are not consistent regionally or even locally, and will differ down to the specific asset in question. The outputs of a risk assessment should be communicated to relevant decision makers and to the public, as appropriate. Weather conditions are becoming increasingly variable due to climate change, which translates into additional risks that have the potential to carry financial, environmental, and social costs related to long-lived transportation infrastructure assets (Fankhouser et al., 1999). In the literature, risk assessment approaches fall into two distinct classes based on the availability of data and effort and are discussed here as the Tier 1 assessment and the Tier 2 assessment.
The risk can be determined for a given system or program and focuses on a defined set of stressors (such as climate change effects).
A preliminary appraisal of the risks associated with these vulnerabilities has been undertaken finding that over 60% of them are expected to be affected by current predicted levels of climate change within the relevant asset life or activity time horizon.
Methods currently used in assessing these risks and prioritizing responses could be augmented and employed in the context of climate change risks.
Once we have associated a risk to each project one should plot the project on a graph of the type illustrated below. For example one large UK bank, when it carried out a risk assessment according to our matrix (see PIC 4 below) was surprised to see quite how much of its IT resources were involved in High Risk Projects. In fact, the Canadian Climate Impacts and Adaptation Research Network (C-CIARN) expanded upon this three element approach described above by prefacing these three elements with stakeholder involvement and adding a final step of identifying adaptation strategies when outlining the elements of a vulnerability assessment (Mehdi et al., 2006). While this assessment does not take into account long-term climate changes or variability, this assessment may be useful for providing a vulnerability assessment methodology framework for the highway system. The analysis for a given system or program can be divided into endpoints of interest such as environmental, human health, and financial where each endpoint has its own risk table.
This risk assessment found an increase of sea level rise of less than 1 meter by 2100 increases the frequency of coastal flooding by factors of 2 to 10 by 2100.
The risk assessment is a GIS based assessment using maps to represent debris flow as a function of water conditions, vegetation and land cover, stream flow, and slope angle.
The severity and probability of projected impacts can also be factored into this analysis (see section on risk assessment) and compared to the timeframe available for implementation of action. This demonstrates the grey lines that exist between these different assessments and approaches.
Each of these sections provides a general overview of the assessment or approach, the methodology that policymakers may utilize for applying the assessment or approach, and selected examples.


Thus, this literature review focuses on three major categories of activities: vulnerability assessments, risk assessments, and adaptation approaches. Ultimately, some combination of these actions will inform a new risk assessment framework for FHWA.
Save time with the pre-formatted template; fill-in the blanks and you’re ready to start your risk assessment!
The objective of this assessment is to ensure that the overall risk to the organization and its operations is managed appropriately on an ongoing basis.
If you want to easily and quickly perform a high quality threat and risk assessment , this template is your solution! The context above creates an environment whereby large companies incur more IT project risk than is desired. Additionally the completed projects should be classified according to the risk criteria as high, medium or low risk. Large scale or high risk activities, while essential to training a modern military force, must also comply with relevant federal and state legislation. Table 1 is an example of a vulnerability assessment conducted for various planning activities (Snover et al., 2007). This Australian report uses a vulnerability assessment to investigate how projected climate effects will affect road infrastructure. Climate change risk assessment can be a tool for enhancing the resilience of the transportation network (CCSP, 2008). In step 4, each vulnerability identified receives a risk-ranking based on a risk appraisal scoring using four primary criteria: (1) uncertainty, (2) rate of climate change, (3) extent of disruption, and (4) severity of disruption (see Table 5 ).
This study reviews the current understanding of the risks posed by climate stressors to the Metropolitan East Coast infrastructure with a focus on coastal storm surge inundation and then looks at the incremental hazards associated with projected sea level rise including risks associated with coastal storm surge. As indicated previously, transportation professionals currently take into account a variety of risks outside the context of climate change, including seismic risks and other natural hazards, as well as human-induced risks such as terrorist attacks. Tier 1 - a systematic qualitative analysis, where the size, significance and relative importance of the risks, costs and benefits for each option are described.
Depending on the risk you should also try and assess from a customer’s perspective and the impact it may have on them. We would suggest the following table could be used to give a simple risk rating at the start of a project.
This study follows many of the steps described in the methodology section including the assessment of current vulnerabilities, estimating future climate conditions and identifying the associated projected vulnerabilities. For this assessment, two IPCC scenarios were used to report on climate change impacts in California : A2 (a higher emissions scenario) and B1 (a medium-low scenario). Natural variability and knowledge gaps are sources of uncertainty, which should be considered in the risk assessment process.
This approach provides methodologies for vulnerability assessment, risk assessment, and adaptation.
The study assesses the risk for various types of infrastructure against a range of climate change variables.
Transportation (2008)highlights the California Seismic Retrofit Program as a strategic, risk-based approach that could be considered in the context of climate change risks. To date, three closely-related approaches are being used to help transportation decision makers consider and prepare for future climate impacts: vulnerability assessment, risk assessment, and adaptation assessment. A climate change risk assessment can help identify no-regrets climate change adaptation options, that is, the uncertainty associated with the stressor is very low warranting implementation of adaptation options (Willows and Connell, 2003).
This methodology for assessing criticality may be a useful approach when prioritizing climate-related risks to transportation infrastructure. The literature is relatively sparse, but growing with respect to systematic descriptions of adaptation approaches compared to vulnerability and risk assessment methodologies (Heinz, 2007). Table 7 demonstrates the findings of a number of studies investigating adaptation options for transportation infrastructure and is organized by climate impact.
This assessment focuses on how the elevation of roads and bridges are linked to the vulnerability to storm surges and sea level rise by examining actual damages to transportation infrastructure that occurred as a result of Hurricanes Katrina and Rita in 2005 and the associated costs of repairs (CCSP, 2008). For example, an event that is very likely to occur and produce catastrophic consequences has a high level of risk associated with it (illustrated below in red). Alternatively, an event that is not likely to occur and, if it were to occur, would produce very little damage would be considered a very low risk (illustrated below in white). Ideally, the risk thresholds of the policymaker are also incorporated into the design of the evaluation. Step by careful step, word by word, paragraph by paragraph, and page by page, our template empowers you to effectively document and understand your business risks. Listed in order of priority and aligned to the risk tolerance and objectives listed previously. In PIC 2, at the organisation level the company needs to formulate a view on how risk seeking or risk averse it is when it comes to IT investments.
A workshop Assessment of the risks of Defence activities in the Great Barrier Reef World Heritage Area was held in September 2005.


The following summarizes studies that have utilized some aspect of the vulnerability assessment methodology outlined above in the approach and highlights each study's key findings.
In 2008, Engineers Canada conducted this engineering vulnerability assessment on four categories of Canadian public infrastructure: stormwater and wastewater, water resources, roads and associated structures, and buildings. The evaluation of the likelihood and consequence of climate-related impacts provides policymakers with some guidance on the level of risk and may be based upon a literature review or expert survey (Snover et al., 2007). Tier 2 - a semi-quantitative analysis, where some aspects of the risks, costs and benefits are assessed in quantitative terms while others are assessed qualitatively; the assessment would aim to assess uncertainty by placing upper and lower bounds on the risks, costs and benefits. Thus rather than having a flat hurdle rate IRR that IT projects must achieve (the normal case) we should require an IRR that takes account of the project’s risk. This assessment provides transportation policymakers with guidance based on quantitative analysis of the level of risk associated with changing climate conditions. Additionally, risks faced today at a given location may change in the future, dependent upon climatic changes, management decisions, and the implementation of adaptation measures, for example. The engineering vulnerability assessment conducted in these two case studies employed a sophisticated three-dimensional analysis of infrastructure components including how the components respond to climate events and the particular set of climate events under consideration.
The Canadian Climate Impacts and Adaptation Research network (C-CIARN) hosted a workshop to discuss and identify the impacts of landslides, adaptation and risk management and future needs associated with future climate projected in Canada to include increased water, steepness, and intensity of storms (CCIARN, 2004). For example an extreme climate event such as intense rainfall events may be considered rare but the actual impacts may be very severe and may warrant a greater degree of associated risk than the findings of the evaluation (Willows and Connell, 2003). Accept the portfolio profile and focus senior management efforts on managing the high risk projects rather than the whole portfolio.
Apart from ecological consequences, three activities and associated issues were considered to present a risk of compromising the public reputation of both Defence and GBRMPA.
Synthesis and Assessment Product (SAP) 4.7 focuses on the Gulf Coast and examines the potential impacts of climate change on vulnerable transportation systems and infrastructure. This report assesses the vulnerability of San Francisco Bay and its shoreline to the impacts of climate change, identifies information needs for future vulnerability assessments, and suggests near-term and long-term strategies to address climate change impacts. The consequence of impact for the risk table can be determined for each endpoint of interest described in Box 4 . Tier 3 - a fully quantitative analysis, where the probable performance of each option in managing the risk is quantified in terms of costs and benefits and, in some cases or where possible, converted into monetary terms. Having done both of these it is fairly simple statistics to get a feel for the variability of the expected IRR as a function of risk.
In general, a vulnerability assessment can be broken into 3 key elements as illustrated in Box 1 . Several fundamental concepts apply to any climate change risk assessment process (see Box 2 ). Identifying potential climate-related hazards and prioritizing at-risk infrastructure in the context of other risks currently under consideration by policymakers is critical in assessing whether or not adaptation is appropriate, and if so, when and where to focus adaptation efforts.
Interestingly, adaptation approaches are extremely broad and are likely to include qualitative screening assessments, some quantitative risk assessments, policy and implementation actions, as well as outreach and communication efforts. Current levels may not remain stable, however, and should there be an increase in the scale, tempo or intensity of Defence activities in the Great Barrier Reef World Heritage Area, the risk assessments would need to be revisited to ensure adequacy of management measures. Methods or frameworks for quantitatively assessing and prioritizing risks and direct and indirect consequences, or probable losses, due to climate-related impacts are not well established. Preparation of a Strategic Environmental Assessment, initial environmental review, environmental management plan and environmental certificates of compliance are tools that are used to manage routine or low risk activities. This assessment provides a roadmap for which climate variables (temperature, precipitation, etc.) are most likely to be of interest. The risk product for each stressor and endpoint reflects the level of risk for policymakers. A Vulnerability Assessment: of the issues that could have far-reaching consequences for the Great Barrier Reef.
Importantly, the risk evaluations are based upon current levels of Defence activity (for example number of vessels, area of the Great Barrier Reef World Heritage Area used for Defence activities, volume of sewage discharged). In order to maximize the usefulness of the information presented in this report, examples from the literature are presented in three categories: (1) vulnerability assessment, (2) risk assessment, and (3) adaptation approaches. Risk assessment evaluates the likelihood and consequence of climate-related impacts on transportation and can be rooted in engineering applications.
The findings of the assessment can then be ranked to assess, prioritize, and address vulnerabilities.
This type of vulnerability assessment can be replicated in other regions as the climate scenarios are applicable worldwide and the results can be incorporated into regional vulnerability assessments relying on regional expertise and existing infrastructure inventories.
FHWA recognizes that efforts to address adaptation are in their infancy and in some cases, adaptation efforts may be limited to a qualitative assessment of vulnerability.



Workplace disaster recovery plan
Hurricane sandy materials
Winter power outage preparedness


Comments

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    Author: ANAR_Icewolf
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