Transportation operations are coming under increased scrutiny due to the potential significant risks posed and an increasing awareness of limits on the degree of control while in transit.The importance of transportation risks is recognized by busines leaders and increasingly by the public as well.Transportation accidents resulting in accidental releases of hydrocarbons and chemicals often make the news headlines and impact a company's reputation as well as having direct potential significant financial impacts for a business.There is an increasing desire on the part of business leaders to clearly understand transportation risks and the financial impacts within the scope of the overall business.Using clalssical risk analysis,difficulties are often encountered in the metrics and basis used to represent transportation and fixed facility risks,making comparisons and development of a total risk picture challenging.Financial Risk Analysis (FRA) techniques are successfully used to overcome this dilemma as risk to people,the environment,business interrutpion,property,and other risks are combined on a uniform financial basis.This can provide information for strategic,tactical and operational decisions.Case study results are given to demonstrate the value of FRA in decision making and its integration in business processes as a competitive advantage.
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