RISK MANAGEMENT

Risk Management in the maintenance area could be defined as "the management of a work program that is implemented after all possible impacts are analyzed in an effort to minimize the aggregate expenditure of funds." This expenditure should be all impacts reduced to their dollar value as they affect the agency, a citizen or a motorist. Many definitions of Risk Management include the fatality of the motorist, but eventually that works out to a dollar value which can be incorporated into a Risk Management Program. In developing a Risk Management Program, it is very important to determine the objectives, identify the risks that you are willing to accept, and evaluate the alternatives to accepting the risk, either through the elimination or transfer of the risk to another source. (Author)

• Record URL:
  http://onlinepubs.trb.org/Onlinepubs/trr/1980/781/781-012.pdf
• Summary URL:
  https://scholar.google.com/scholar_lookup?title=RISK+MANAGEMENT&author=C.+Edson&publication_year=1980
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/isbn/0309031117
• Supplemental Notes:
  • This paper appeared in Transportation Research Record No. 781, Maintaining the Maintenance Management System. Distribution, posting, or copying of this PDF is strictly prohibited without written permission of the Transportation Research Board of the National Academy of Sciences. Unless otherwise indicated, all materials in this PDF are copyrighted by the National Academy of Sciences. Copyright © National Academy of Sciences. All rights reserved.
• Authors:
  • Edson, Charles T
• Conference:
  • Fourth Workshop on Maintaining the Maintenance Management System
  • Location: Hilton Head South Carolina, United States
  • Date: 1980-7-6 to 1980-7-8
• Publication Date: 1980

Media Info

• Media Type: Print
• Pagination: pp 79-81
• Monograph Title: Maintaining the Maintenance Management System
• Serial:
  • Transportation Research Record
  • Issue Number: 781
  • Publisher: Transportation Research Board
  • ISSN: 0361-1981

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Costs; Crashes; Hazards; Highway maintenance; Maintenance management; Risk assessment
• Uncontrolled Terms: Accident costs; Maintenance costs
• Subject Areas: Administration and Management; Finance; Highways; Maintenance and Preservation; Safety and Human Factors; I10: Economics and Administration; I61: Equipment and Maintenance Methods;

Filing Info

• Accession Number: 00334230
• Record Type: Publication
• ISBN: 0309031117
• Files: TRIS, TRB
• Created Date: Sep 16 1981 12:00AM