Port Operations Risk Assessment

ModuSpec has recently assisted a major Australian mining company in conducting a risk assessment on the their port operations. It had been identified that a significant proportion of the output was moved through seaborne ports. The mining company’s upper management sought advice on the business risks associated with its port operations and hence commissioned this study.

The study used the so-called bow-tie approach and looked at incidents while considering risk in terms of maximum loss, annualized loss and potential loss of life. This is an example of the application of risk assessment techniques to analyse business risk or, more specifically, operational risk.