International research to offer practical guidance for improved risk management in the water sector

Posted: Tuesday 9th August 2011

Cranfield’s Water Science Institute has confirmed its position as a leading force for improved risk management within the water sector through an important collaboration with the US Water Research Foundation (WaterRF).

In its third international research contract for the US Water Research Foundation, based in Denver, and sponsored by Calgary Water (Canada), Cranfield is developing practical guidance for group risk managers working in water utilities across the world.

Professor Simon Pollard, Head of Environmental Science and Technology at Cranfield and project lead, explained “Many water utilities now have group risk managers or chief risk officers. Stakeholder pressure requires water utilities to evidence more clearly how they assess, manage and communicate the risks they face. It’s not just about having tools and processes in place. It’s as much about the people and organisational culture that utilities nurture to help their staff be both vigilant and empowered to make informed decisions on risk.

“Risk managers within the sector face a hugely challenging job of coordinating risk management across their business units and they need practical support on where to focus their efforts for best business return. Our research and international benchmarking of risk governance can help them tremendously”.

Part of an ever strengthening portfolio on risk management, the WaterRF research will complement Cranfield’s existing activities in risk management, including a successful executive short course on risk and reliability engineering and a growing suite of collaborative research projects in partnership with Cranfield School of Management on what makes for a sound risk management culture.

The guidance will be available to organisations in late 2012.




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