An Asset-Management Framework for the Interstate Highway System (2009) / Chapter Skim
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Pages 15-22
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From page 15... ...
Section 3.2 provides a proposed approach to addressing risks in development of an IHS owner's Interstate Asset Management Plan. Section 3.3 addresses the institutional commitment necessary to extend IHS management practices to accommodate risk.
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From page 16... ...
3.2 Risk Management for the Interstate Asset Management Framework This section outlines a proposed approach to augmenting transportation agencies' existing risk management activities with a process that helps assess risks of system failure for IHS assets. IHS owners could perform the risk assessment approach described here for their IHS assets and any other assets on what they define to be on their highest priority network.
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From page 17... ...
The following subsections describe how to determine what risks should be addressed in an Interstate Asset Management Plan, and present a step-by-step approach to risk assessment. Risks Addressed in the Interstate Asset Management Framework To help identify the categories of risk that should be addressed, one should consider the universe of risk illustrated in Figure 3.2, and derived from the oft-used risk formula: The vertical axis of Figure 3.2 represents the probability (from low to high)
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From page 18... ...
Risk Assessment Process The fundamental objective of the proposed risk mitigation process is to provide IHS owners with a practical approach to augmenting their programmatic risk management activities with an approach for addressing risks of system failure for their IHS and any other critical assets. The result of the process is a set of risk mitigation priorities included in the Interstate Asset Management Plan, supplement other types of asset needs, and can be used as an input to the resource allocation process.
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From page 19... ...
This approach involves identifying the levels of certain transportation asset characteristics, at and above which the agency should consider taking action specifically to mitigate one or more catastrophic risks. Examples of the types 19 Economic Losses • Direct –Repair or Replacement Costs • Indirect –Lost Production, Sales, Other Mitigation Measures • Maintenance Strengthening • Security • Move or Add Routes • Other Drives Increases Creates Creates Reduces Creates Transportation System Capacities • Impacted IHS Route • Alternative IHS Routes • Alternative Non-IHS Routes • Rail • Marine • Air Threat/Hazard Scenarios • Natural Hazards • Unintentional Hazards • Intentional Hazards Interstate Highway System (IHS)
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From page 20... ...
The next step in the process is the identification of effective risk mitigation strategies or countermeasures for each combination of initiating event (i.e., threat/hazard of a 20 • Unintentional Hazards • Natural Hazards • Intentional Hazards Step 1.a –ID Hazards/Threats Probability, Location, Duration Step 1.b –ID Critical Infrastructure Elements • Pavements • Bridges • Tunnels Step 2 –Establish Threat/Hazard Scenarios • Magnitude/Severity • Probability • Location Data Sources • National/Regional Natural Hazard Databases • Infrastructure Management Systems • Agency Led Intergovernmental Expert Teams Step 3 –Estimate Scenario Consequences • Human Safety • Property Damage • System/Mission Disruption Consequence Modeling • Direct Economic Loss • Indirect Economic Loss Consequence Thresholding • Identify If Scenario Results in Unacceptable Consequences Step 5 –Establish Risk Mitigation Priorities Step 4 –Identify Risk Mitigation Strategies and Countermeasures For each combination of initiating event and asset and asset groups analyzed. Establish Consequence Thresholds Figure 3.4.
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From page 21... ...
By looking at the results of consequence analysis and the mitigation strategies and countermeasures identified, as well as estimated costs, the IHS owner can establish priorities among the potential risk mitigation packages. This set of risk mitigation priorities should be documented in the Interstate Asset Management Plan and serve as an input into the agency's overall investment decision-making process.
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From page 22... ...
Many transportation agencies have established the importance of budgeting for this function, and having well-established and well-rehearsed protocols in place for responding to specific types of disasters. The bottom line is that the successful implementation of an ongoing risk assessment process as a component of the Interstate Asset Management Framework requires institutional planning, commitment, and continued personnel and financial support.
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