Risk Aggregation Project

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Challenge

The Department of Sustainability and Environment (DSE), as the portfolio agency for the water industry in Victoria, Australia, receives information on enterprise risks of Victorian water corporations.

Nineteen water corporations provide enterprise risk information using different risk frameworks and different risk contexts.

    Location: Victoria, Australia
    Region: Asia Pacific
    Service Offering: Management Consulting
    Status: Complete

    SOLUTION

    MWH worked closely with the DSE to develop a risk aggregation tool, which allows the import of each of the 19 water corporations’ risk registers. The tool subsequently allows the mapping of risk criteria onto DSE’s single common framework with which to compare risks on an even footing across the 19 water corporations.

    MWH developed multiple points of comparison for analysis within the tool through innovative data visualisation approaches. This included:

    • Comparison graphs and drop-down lookups to compare similar themed risk clusters across corporation tiers (as determined by size);
    • Tornado diagrams illustrating the assessed position of different risks for each organisation relative to other corporations.

    The tool provides real insight into the different risk perceptions and how these sit relative to each organisation. The tool incorporated a number of analysis enhancements in order to “slice and dice” the risk data being analysed.

    KEY OUTCOMES

    The DSE is now better able to identify key risk areas, patterns and trends across the State. This gives the DSE greater understanding and appreciation of water industry risks.

    • Developed a tool to better assess key risk areas across the Victorian water industry
    • Provided ability to benchmark and understand how water industry risks change over time

    Our address

    Address:
    Victoria, Australia
    GPS:
    -37.4713077, 144.78526628668

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