Multi-hazard risk prioritization for British Columbia asset portfolio - Department of National Defence
The National Defence real property portfolio in British Columbia contains more than 1500 assets spread across 22 locations. Due to their geographical settings, these assets are exposed to a combination of earthquake, tsunami, riverine and overland floods, and extreme wind. In particular, damage caused by frequent and moderate, as well as rare but severe winds to assets located in coastal locations and open terrains can both be substantial. As a first phase of a comprehensive multi-hazard assessment of the National Defence portfolio, a risk prioritization by asset types and occupancy was developed to support the asset management needs.
Kinetica Risk developed and applied a multi-hazard risk prioritization methodology based on financial, safety and downtime metrics for the National Defence portfolio. Using existing asset data provided by National Defence, a digital representation of the British Columbia portfolio was created using representative asset archetypes, including occupancy adjusted vulnerability and recovery functions. This portfolio is then subjected to wind, flood and earthquake hazards, represented by hazard exceedance probability curves, to derive annualized metrics for financial loss, safety and downtime at the asset, facility and portfolio level. This work serves high level asset management decision-needs including the identification of high risk asset groups, potential mitigation measures and an approximate indication of cost and benefits for risk mitigation interventions. This analysis also provides a basis for developing rational asset management decisions using higher resolution assessments to better capture value in specific capital investments.
