Table of Contents
How do you manage transportation risks?
Identify risk owners and manage risks at the appropriate level. Use the risk management process to support risk allocation in agency, program, and project delivery decisions. Use risk management to make the business case for transportation and build trust with stakeholders.
What are the transportation risks?
The Greatest Risks Faced By the Transportation Industry
- Cyber Attacks. According to a recent Willis Towers Watson report, cyber attacks pose the single biggest threat.
- Driver Shortages. Driver shortages continue to plague the transportation industry.
- Deteriorating Infrastructure.
- Greater Government Oversight.
What are the three basic categories of risk control?
three basic categories — Engineering controls, Administrative controls, and Physical controls.
Which activity is critical to ensure that strategy is implemented effectively?
Strategy Evaluation Strategy evaluation involves three crucial activities: reviewing the internal and external factors affecting the implementation of the strategy, measuring performance, and taking corrective steps to make the strategy more effective.
What is the role of risk mitigation in business continuity?
Risk mitigation is central to business continuity. It is the act of taking steps to reduce the extent of exposure to a risk and/or the likelihood of its occurrence. The key to reducing your risk lies in the strength of one or more of the mitigating controls for your business continuity program.
Which is the best risk mitigation tool in the market?
The Residual Risk (R 2) assessment tool by BCMMetrics™ offers a simple, reliable way to understand and manage risk. It helps identify where pockets of residual risk exist in your organization; it also helps determine the magnitude of the risk and evaluates the mitigating controls to show how you can improve.
How to control the level of residual risk?
One or more of the mitigating controls may need shoring up if you hope to control the level of residual risk. 1. Your business continuity management team. Objectively consider whether there might be any deficiencies within the team itself that could be causing the risk. Do your team members have enough training?