Abstract
ABSTRACT The objective measurement and evaluation of risk has become more important than ever as companies, organizations and agencies seek to improve effectiveness and efficiency. Risk assessment is a business activity which should not be left solely to estimation or other largely subjective means if improvement, quality and success are to be maximized. Since the early 1990s the U.S. Coast Guard has changed its business practices in order to become a “total quality, customer-focused” organization. The regular measurement of activities and results is now key to determining success in meeting organizational goals and missions, as well as satisfying customer needs and expectations. Risk management is an important part of this endeavor. In 1994, Marine Safety Office Huntington, West Virginia developed a very unique and useful risk assessment and management system to improve its effectiveness in dealing with marine transportation-related bulk oil and chemical facilities.
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