How to Measure Risk in the Damage Prevention Industry

In a recent dp-PRO webinar, Matthew Abbitt, Chief Product Officer at Irth Solutions, outlined how to measure risk in the damage prevention industry.

To appropriately measure risk, you need to be able to assign a Risk Score to various activities that take place around your assets. Risk Scoring is a calculated level of risk associated with an activity based on a pre-configured set of rules.

In this webinar, you’ll learn:

• Definitions of terms used in risk management, including automation, algorithm, machine learning, artificial intelligence (AI) and risk score
• The difference between automation and intelligence
• The importance of collecting the right data for your organization to calculate risk
• Where to start your risk model
• Common Risk Scoring use cases for the damage prevention industry
• Risk management best practices and benefits of risk scoring

As a trusted damage prevention partner, we’ve helped many customers use risk scoring to reap incredible benefits, including Crown Castle who reduced network asset damage by 19% in the first year of using UtiliSphere™ and SmartScore.