Premium
Risk: Not Just a Board Game
Author(s) -
Bernosky Joseph
Publication year - 2016
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.5942/jawwa.2016.108.0063
Subject(s) - order (exchange) , component (thermodynamics) , business , key (lock) , risk analysis (engineering) , variety (cybernetics) , computer science , computer security , finance , artificial intelligence , physics , thermodynamics
How many of you remember playing the old Parker Brothers board game, Risk? It was promoted as a strategy game, and the goal was to conquer the world. So the risk component was of the “taking a chance” variety in order to win the game. In the water/wastewater world, it's a bit different; we deal with risk as a noun: the “possibility of loss or injury” (Websters Merriam 1983). Understanding and managing risk is a key competency of any water or wastewater utility. In this column I'd like to share a few thoughts about risk, and I'm not talking about the board game.