Risk Assessment

Management and Assessment of Risk

The MoD Defence Plan 2008-2012 states that "Effective management of risk is crucial to the delivery of the Defence Aim". We take a proactive approach to assessing and managing risk, to minimise impact on availability. We provide specialist risk management support to identify, evaluate, manage and mitigate risk.

Within the defence sector we have an extensive track record in risk management, with a focus upon risk in logistic support. For instance, the risk associated with support availability management is predominately driven by the availability of spare parts. In order to predict spare part requirements it is necessary to have accurate, timely and complete data detailing asset quantities, locations and configurations including usage rates across all the stakeholders.

LSC Group's Repairable Asset Management System (RAMS) holds all of this data. From this information it is possible to determine; the size of spares pools, optimum repair Turn Round Times and the required spares holdings to support pre-determined availability rates. With this information the overall risks of meeting specific availability rates can be assessed and the impact of increasing spares holdings to mitigate the risks can be calculated, leading to effective decision making.