Risk Register Development / Arkansas DOT
As part of the process of developing its 2018 TAMP, ARDOT developed a risk register and mitigation plan compliant with FHWA TAMP requirements. As part of this effort, ARDOT first reviewed and documented its existing controls for asset-related risks incorporated in its design specifications, and approaches for addressing specific risks to bridges (e.g., scour). The agency then developed an initial register through a risk workshop. In the workshop, ARDOT staff identified specific risks not otherwise addressed programmatically, classifying risks by type:
- Asset Performance
- External Threats
- Business Operations
- Highway Safety
- Finances
- Project and Program Management
- Information and Decision Making
For each risk ARDOT used expert judgment to classify the risk in terms of its likelihood and impact. An initial priority was determined based on this classification. Next, ARDOT defined potential mitigation strategies for each of the 14 high-priority asset management risks in the register. A total of 12 strategies were identified, with each helping to mitigate one or more different risks. ARDOT next prioritized the mitigation strategies, and developed mitigation and monitoring plans detailing actions to be undertaken, and the approach for monitoring the risks and updating the register moving forward.
Arkansas DOT. 2018. ArDOT Risk-Based Transportation Asset Management Plan. http://www.tamptemplate.org/wp-content/uploads/tamps/037_arkansasdot.pdf
Read more in the chapter: 2.2.3 Risk Management