1. Critically evaluate the components which are widely recognised as contributory factors to the concept and occurrence of risk within a business and societal setting and acknowledges economic and legal implications.
Evaluating Risk and Decisions
Background and context:
The potential for interruptions to water supplies is at risk from a range of factors which include human intervention and climate.
According to Milley, Betancourt, et al, (2008) the notion of Stationarity is dead and the authors query: Whither Water Management? Stationarity is the idea that natural systems fluctuate with an unchanging envelope of variability. However, more recent views are that this assumption has long been compromised by human disturbance.
An insight into the art of risk management related to water supply and sanitation, together with an international framework has been developed using the standard: BS EN 15975-2 (2013) which covers the security of drinking water supply. (A useful source which provides guidelines for risk and crisis management related to this standard has been posted onto moodle)
Together WaterTM have been retained to raise awareness of the “Every.Drop.Counts” campaign that was launched by the successful consultancy in 2018. The focus of the brief is to encourage businesses to be aware of the potential risks to continuous water supply within the workplace. Undertake independent research that may include reports from business media, publications from statutory bodies and governments in order to draw on practitioner examples, together with supporting theoretical sources to undertake the following
1. Critically evaluate the components which are widely recognised as contributory factors to the concept and occurrence of risk within a business and societal setting and acknowledges economic and legal implications. Your response should focus on water supply. (35 marks)
2. A knowledge transfer of the classification of risk, as a foundation for the design and development of a water risk management plan which identifies the potential hazards, hazard sources and hazardous events prior to assessing the associated risks. Evaluate the control measures to be implemented for the identified risks. State how the control measures and effectiveness of the WRMP will be monitored from an operational perspective, including corrective actions, record keeping and review frequencies.
In each section the use of supporting recent and relevant academic theory is required to underpin your answer. (05 marks)
Professional business presentation and structure with clear headings, sub-headings and that includes a brief introduction and summary will also be an aspect of the overall assignment mark. (10 marks)
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