2000 – Advances in the Practice and Use of Portfolio Risk Assessment

D. S. Bowles

Portfolio risk assessment (PRA) can now be considered to be a standard of practice in Australia. In this paper various advances in the state-of-the-practice for performing PRA’s are reviewed, including some pitfalls and limitations. The uses of PRA outcomes by owners are discussed, along with some ways to improve the value derived from PRAs. The challenges that are common in seeking to achieve an integration of the PRA process into the owner’s dam safety management program and with broader business processes, and the importance of targeting PRA outcomes to an owner’s specific business needs, are emphasised.