Committee on Alaska’s Oil and Gas Infrastructure: Risk Assessment Peer Review: September 2009 Letter Report

TRB has released a letter report produced by the Committee on Alaska's Oil and Gas Infrastructure: Risk Assessment Peer Review that examines a contract team’s proposed risk assessment of Alaska’s oil and gas infrastructure designed to identify, quantify, and evaluate current and future significant risks from a systems-level perspective. According to the committee, the management plan is not feasible given real-world constraints, the proposed risk methods are too detailed and lack a sufficient top-down perspective necessary for capturing important risks, and the proposed outputs are static and stop well short of providing Alaska with tools capable of evaluating risk mitigation opportunities. In addition, the committee recommends that the methodology should be redesigned to ensure a rigorous, well-balanced assessment that will address the issues of most concern to the state.