2018-04-10 S&O Agenda - Attachment 1 to Item 6 - Sand Recycling System Asset Management Plan

5. Risk Management
Risk management is a coordinated approach to the management and control of risk by Noosa
Council.


5.1      Critical Assets
The identification of critical assets is based on the consequence of failure multiplied by the likelihood
of failure; as adapted from the International Infrastructure Manual 2015 Section 3.2.4. For an
indicative draft table of risk measures refer to Councils Risk Matrix in Council’s Corporate Risk
Register.


5.2      Risk Assessment
It is important to have a good understanding of the risks associated with the operations of the SRS.

The top four asset related risks are:
1.    Operational Performance – No asset failures when sand renourishment is required after
      significant erosion has occurred from a major weather event.
2.    Contract Management
3.    Continuity Planning– the current contract is a construct and operate arrangement. Future
      contracts will need to reflect an ‘operate only’ contract.
4.    Work, Health & Safety - Public Safety – when sand renourishment activities are in-progress.

These risks and all other current risks will be regularly reviewed and if necessary, they can be
documented in the annual Branch Plan – Infrastructure Planning, Design & Delivery. Should the
need for them to be further escalated they can be addressed for consideration by the Risk and Audit
Committee.




Asset Management Plan: Noosa Main Beach Sand Recycling System                                   Page 16