Risk Management and its Application to Transport Network Management
Risk management has been practised in one form or other for well over 3500 years. In the last few decades, its use has increased dramatically, as has the formalisation of the methodology of risk management. This paper reviews the risk management methodology, including risk identification, risk analysis, risk evaluation, risk treatment and risk communication. The paper will focus on the application of risk management to two aspects of transport network management, namely improving network resilience and network safety. Initiatives and priorities for improving transport network management are discussed.