Advertisement

A Case Study in Risk Management: The UK Pumped Storage Business

  • A. Ian Glendon
  • Bryan O’Loughlin
  • Richard T. Booth
Chapter
  • 134 Downloads
Part of the Advances in Natural and Technological Hazards Research book series (NTHR, volume 16)

Abstract

Case studies of safety and risk often focus on learning from disasters. However, learning can also result from studying risk management practices within organisations in which disasters have not occurred. This organisational case of the Pumped Storage Business (PSB), at the time it was part of the UK National Grid Company (NGC), demonstrates integrated management of safety and financial risks in a successful business. This chapter describes the main aspects of risk management that were central to the organisation at the time of the study, before considering these within the context of a risk management model.

Keywords

Risk Management Electricity Market Draft Tube Management Executive Discount Cash Flow 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Arthur Andersen Consulting (1994). Predictable patterns: navigating the continuum from protected monopoly to market competition. London: Arthur Andersen.Google Scholar
  2. Central Electricity Generating Board (1983). Dinorwig Power Station: station safety report, revised March 1983. Barnwood: CEGB.Google Scholar
  3. Eisner, H. S. and Leger, J. P. (1988). The International Safety Rating System in South African mining. Journal of Occupational Accidents, 10: 141–60.CrossRefGoogle Scholar
  4. Glendon A. I. (1994). Safety auditing. Module RA6, Occupational Health and Safety Training Unit, University of Portsmouth.Google Scholar
  5. Glendon, A. I. and McKenna E. F. (1995). Human safety and risk management. London: Chapman and Hall. Health and Safety Commission (1993). Advisory Committee on the Safety of Nuclear Installations, ACSNI Study Group on Human Factors, Third Report: organising for safety. London: HMSO.Google Scholar
  6. Pérusse, M. (1980). Dimensions of perceptions and recognition of danger. PhD thesis, Birmingham: Aston University.Google Scholar
  7. Royal Society (1983). Risk assessment: report of a Royal Society study group. London: The Royal Society. Royal Society (1992). Risk: analysis, perception and management - report of a Royal Society study group. London: The Royal Society.Google Scholar
  8. Toft, B. and Reynolds, S. (1997). Learning from disasters: a management approach. (2n d edn). Leicester:Google Scholar
  9. van der Schaaf, T. W., Lucas, D. A. and Hale, A. R. (eds) (1991). Near miss reporting as a safety tool. Oxford: Butterworth-Heinemann.Google Scholar
  10. Waring, A. E. and Glendon, A. I. (1998). Managing risk. London: Thomson.Google Scholar
  11. Williams, E. (1989). Dinorwig: the electric mountain. London: The National Grid Company.Google Scholar
  12. Royal Society (1983). Risk assessment: report of a Royal Society study group. London: The Royal Society. Royal Society (1992). Risk: analysis, perception and management - report of a Royal Society study group. London: The Royal Society.Google Scholar
  13. Toft, B. and Reynolds, S. (1997). Learning from disasters: a management approach. a nd edn). Leicester:Google Scholar
  14. van der Schaaf, T. W., Lucas, D. A. and Hale, A. R. (eds) (1991). Near miss reporting as a safety tool. Oxford: Butterworth-Heinemann.Google Scholar
  15. Waring, A. E. and Glendon, A. I. (1998). Managing risk. London: Thomson.Google Scholar
  16. Williams, E. (1989). Dinorwig: the electric mountain. London: The National Grid Company.Google Scholar

Copyright information

© Springer Science+Business Media Dordrecht 2000

Authors and Affiliations

  • A. Ian Glendon
    • 1
  • Bryan O’Loughlin
    • 2
  • Richard T. Booth
    • 2
  1. 1.School of Applied PsychologyGriffith UniversityAustralia
  2. 2.Health and Safety Unit, Department of Mechanical and Electrical EngineeringAston UniversityBirminghamUK

Personalised recommendations