KAYUGA SOLUTION, INC. - Laserfiche WebLink

28246 Crown Valley Parkway F-216, Laguna Niguel, CA 92677 www.kayugasolution.com 4.Task 4 - Perform Risk Assessment Although assets may look the same in the asset register, not all assets are of equal importance. Based on location and functionality, the same type of asset may completely differ in importance to the City (e.g., an asset in a neighborhood park vs. community park). Kayuga will utilize the concept of risk to help differentiate and prioritize the City’s assets. Under limited resources and budget, the City will be able to utilize risk to help consistently and transparently prioritize the work to be performed and the budget required to mitigate the highest risk Risk will be based on the probability of failure (i.e., timing to failure) and consequence of failure (i.e., criticality, impact of failure). The probability of failure will be based on the condition score or age of the asset. Kayuga will work with the City to determine the appropriate consequence of failure assessment methodology. Every asset in the asset register will receive a risk score. Each risk score will be plotted on a risk matrix to understand which assets are of the highest importance and how much budget it will require to mitigate the highest risk for the City. After the risk assessment, Kayuga will provide the City with documentation of the risk methodology and tools (e.g., risk scoring criteria) used to produce the risk results. Assets presenting the highest risk will be highlighted and discussed with the City. The following figure shows an example of the IRIS risk matrix window showing the distribution of assets in different risk levels. Each cell in this matrix can be clicked to show the list of assets and their associated attributes and costs. The figure to the right shows an example of the IRIS risk map viewer window showing asset locations within a park and their associated risk level represented in red (high), amber (medium), and green (low). An additional filtering mechanism enables selection of all high-risk assets for possible project bundling. Deliverables •Risk assessment methodology •PoF, CoF, and Risk scores •Risk assessment configuration and data upload in IRIS DocuSign Envelope ID: 2AC71EFF-5DE0-4EA1-85F8-30219C7F24ECDocuSign Envelope ID: 5C9E3D6D-78BE-43C5-A919-929E9BC66BC0