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Risk Relativity

For asset intensive companies to remain competitive, the risks associated with each high consequence asset should be fully understood and compared relative to each other.

This enables the key strategic decisions to be prioritised based on a risk that is quantified consistently and compared whether the same or different asset category, unit or site. All businesses high consequence assets can therefore be ‘risk ranked’ using Asset Doctor’s risk relativity process.

Our process uses Multiple Criteria Decision Analysis (MCDA) techniques to calculate an Asset’s total combined risk from the different assessment criteria. The resulting number can be used for filtering and ranking assets based on their relative levels of risk