Citation

Edson CT. Transp. Res. Rec. 1980; 781: 79-81.

Copyright

(Copyright © 1980, Transportation Research Board, National Research Council, National Academy of Sciences USA, Publisher SAGE Publishing)

DOI

unavailable

PMID

unavailable

Abstract

Risk Management in the maintenance area could be defined as "the management of a work program that is implemented after all possible impacts are analyzed in an effort to minimize the aggregate expenditure of funds." This expenditure should be all impacts reduced to their dollar value as they affect the agency, a citizen or a motorist. Many definitions of Risk Management include the fatality of the motorist, but eventually that works out to a dollar value which can be incorporated into a Risk Management Program. In developing a Risk Management Program, it is very important to determine the objectives, identify the risks that you are willing to accept, and evaluate the alternatives to accepting the risk, either through the elimination or transfer of the risk to another source.