Risk results from the presence of the following:
Physical assets consist of
Physical assets are exposed to elements of physical risk, primarily
These elements place uncertainty on the asset operator's or asset owner's ability to fully derive long-term value from physical assets, and meet organisational objectives.
Lack of preparedness to manage physical risk increases the organisation's and other stakeholder's vulnerability.
Physical risk to public infrastructure poses a threat to growth, job creation, public safety, and quality of life - especially for vulnerable communities.
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