Subjects addressed:Resource Allocation and Program Development, Risk Management
Topics addressed:Analytical Tools and Models, Guidance/Lessons Learned
Asset types addressed:
DetailTitle: TRB Webinar: Transportation Risk Management: International Practices for Program Development and Project Delivery
Resource type: Webinar
Year published: 2012
Publisher: Transportation Research Board
TRB conducted a webinar on August 29, 2012 that examined the results of an international scan that assessed mature risk management practices in Europe and Australia. In June 2011, a team of 11 U.S. transportation professionals with expertise in risk management visited four countries in Europe and Australia: Australia, Germany, The Netherlands, and England and Scotland in the United Kingdom. The purpose of the scanning study was to examine mature risk management practices in these countries and learn how they had developed their policies and procedures to identify, assess, manage, and monitor risks. The scan was conducted under the auspices of the International Technology Scanning Program, which is conducted by the Federal Highway Administration in cooperation with the American Association of State Highway and Transportation Officials and the National Cooperative Highway Research Program. The presentations will detail the team's observations: Risk management supports strategic organizational alignment; Risk-based asset management improves investment decisions; A wide range of risk management tools can optimize performance; Active risk communication strategies improve decision-making; Mature organizations have an explicit risk management structure; Successful organizations have a culture of risk management; Risk management enhances knowledge management and workforce development.