Winter
weather has taken its toll on both sides the US and Canadian border. One utility that has taken it in the chops
from all the ice and snow has been electric companies that provide services to
businesses and individuals. Now this
wasn't the only time that there have been electrical outages due to severe
weather. Power outages have become
rather routine when severe weather hits.
The question is, "How much mitigation do you want to invest in to
reduce the impact of outages?"
The above is
the theme from a Toronto Glob editorial, see the ice storm: Why you want the
lights to go out, sometimes in the piece they call attention to the fact that
you can't mitigate every risk. The costs
to do so would be too high. Thus, the
focus on risk management: Dyman & Associates
Risk Management Projects: Cyber Security
"What is risk? You can look here; it is the odds of suffering a loss in the
future. It is a cost. And what about the reduction or elimination of that risk?
Also a cost. In deciding whether to pay the price, utilities – and all of us –
end up having to weigh three factors: the size of the possible damage, the
likelihood of its occurrence, and the price of mitigation."
Risk
management will become a greater part of the discussion
as we move forward and the warming climate starts to impact our communities in
varying ways. This will be a good
discussion for communities to have. One
way to reduce risk is to disperse it in the entire community (whole
community). If individuals are better
prepared than the costs for organizations can be lessened, and costs of single
entity preparedness reduced. Check
out the post right here…
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