In partnership with Market Economics, we have developed an enhanced benefit cost analysis framework for application to resilience building decisions. This framework helps to better and more comprehensively value risk and resilience decisions, leading to more comprehensive evaluations and better long-term resilience outcomes for both businesses and the community.
Following the Canterbury earthquakes, we interviewed and and surveyed businesses to help identify potential improvements to how commercial insurance is delivered. We also explored ways in which businesses can more effectively utilise insurance (including selecting the right policy and knowing how to claim on it).
A prototype decision support tool (DST) has been developed to guide choices about where to invest time, effort, and resources to maximise improvements to seismic resilience. A decision support tool is a helpful device to indicate strengths, trade-offs, and co-benefits of different types of projects in environments where resources are limited and there is significant uncertainty about risk. The DST is intended to be a usable and robust tool that can aid decision making from problem formulation to identifying a range of suitable actions. The prototype DST is user-focused with an emphasis on engagement and participation.
We can create a customised process to help build your organisation's risk and resilience decision-making capacity. Contact one of our resilience experts below or send us an email for a free no-obligation chat.