Tham khảo tài liệu 'triple bottom line risk management_4', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 110 Stage 5 Implement the Risk Treatment Strategy accountability and responsibility with the effect of reducing the likelihood of risk events and the severity of the consequences. Engineering Modifications and Monitoring Systems If a risk event has a high likelihood of occurring then the appropriate risk treatment action might be to replace the risk cost of an event occurring with a known planned capital expenditure to reduce the likelihood of occurrence and or the severity of the consequences. For example in a sewage pumping station installation of backup pumps can effectively prevent release of sewage to the environment. Structural strengthening of a water supply dam embankment can prevent catastrophic failure and the installation of sophisticated monitoring systems can provide early warning of potential failures. Construction of lined bunds around oil tanks can prevent spills arising from tank failure from leaving the immediate area. Storage of mine explosives underground can prevent injury by fly-rock to residents in the vicinity of the mine site. Asset Maintenance Programs Financial commitment to scheduled asset preventive maintenance programs can reduce the likelihood of occurrence of risk events and the severity of their consequences. Timely replacement of parts in accordance with manufacturers recommendations will reduce the likelihood of catastrophic failures. Regular servicing of equipment and inspection of facilities can also provide an opportunity for early detection and rectification of potential problems such as slow leaks from chemical or fuel storage containers. Acquiring Competitors or Suppliers Competition and continuity of supply are threats to business that are operating in highly competitive markets. Removal of a competitor through acquisition can increase market share and increase the organization s resource base while acquisition of a supplier can ensure supply of critical raw or processed materials or services to the business. However the .
