Risk Governance: An Implementation Guide for Water Utilities

Simon Pollard, Aine Gormley, Hayley Shaw, Craig Mauelshagen, Steve Hrudey, David Owen, Geoff Miller, Paul Fesco, Rob Pritchard

Research output: Book/ReportCommissioned report

Abstract

Water utilities have wide and varied responsibilities requiring them to manage a complex set of risks. For corporate risk management to be implemented and internalized, leadership and executive buy-in are fundamental (Fraser and Simpkins, 2009). Focal points for risk management within water utilities (e.g., risk managers, group risk managers, chief risk officers, performance, and quality managers) play a central role. Yet, there is little guidance for them on what to do and what to avoid doing in order to generate a mindful, preventive risk culture that is responsive to the strategic agendas of modern water utilities.

This guide to risk governance is intended as an introductory primer on how to implement and organize corporate risk governance within a water utility, irrespective of its size, form of legal entity, or experience to date. It concentrates on the competencies required and the practical steps towards best practice. Brief, usable, and accessible, it is written as a companion for utility managers and risk teams wishing to ‘raise their game’ in their approach to risk governance. For ease, the term ‘risk manager’ is used throughout this guide to describe any individual who takes responsibility for risk management at some level. Those wishing to further develop their understanding of the subject are referred to the
International Standard ISO 31000:2009 Risk management - principles and guidelines.
Original languageEnglish
PublisherWater Research Foundation
Commissioning bodyWater Research Foundation
Publication statusPublished - 2013

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    Pollard, S., Gormley, A., Shaw, H., Mauelshagen, C., Hrudey, S., Owen, D., Miller, G., Fesco, P., & Pritchard, R. (2013). Risk Governance: An Implementation Guide for Water Utilities. Water Research Foundation. http://www.waterrf.org/ExecutiveSummaryLibrary/4363_ProjectSummary.pdf