Water and Wastewater: Risky Business!Harlow, V. Kenneth; Buckland, Peter Edition: Vol. - No.
American Water Works Association / 01-Feb-2005 / 16 pages

This paper introduces a conceptual framework for risk management and demonstrates itsapplication through three case studies. As the paper demonstrates, the quantification of risk andthe inclusion of risk costs in traditional asset analysis can greatly improve the quality of suchdecisions. Topics covered include: basic concepts; two-dimensional nature of risk;quantification of risk in dollar terms;a simple case study: replacing a water supply pipeline;a more complex case study: planning for a pump replacement; and,a "reasonableness test" case study: duplicate a water main or not Includes figures.

Keywords: Risks; Pumps; Water Mains; Water Supply; Pipelines; Wastewater; Management; Planning

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