The Water Risk Assessment Framework is adaptable and can be easily customized to the unique needs of an individual business’s set of environmental requirements. It covers all significant differences between each site that is a part of the assessment and encompasses every element of the location. The components comprise the physical environment topography, environmental conditions and climate, as well as cultural aspects and economic considerations. Furthermore, it evaluates the probability that a particular site is impacted by elements of the natural environment that it is situated within. For instance, certain aspects or elements could be eliminated when they are not contributing to the overall state of the location.
In the assessment of risk to water It is essential to take into account the effects of water on the company, particularly in relation to the financial risk, since this is a part of the framework for financial risk. This kind of analysis can analyze the direct cost of an act as well as the costs associated with it regarding environmental health and human health. It must also consider indirect costs such as the effect it has on maintenance costs and other capital expenditures necessary to operate the business and the effect on the work of those involved in the running of the service. All of these are measures which will be considered by an analysis of financial risks.
However, the physical aspects that are involved in the assessment of water risks are crucial because they are the result of the operations and processes that are carried out by utilities. Quality of water is an essential element in this evaluation. The comparison of current samples against the best standards to determine if these samples can be considered safe for be used is normally conducted to determine the level of contamination. Similar procedures are used to assess the quality of water in the region. Furthermore an assessment of risk to operations is also part of this framework, since all sites within the system of utilities are examined to assess the nature of the operations to be undertaken.