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How to Measure Risk in the Damage Prevention Industry

How to Measure Risk in the Damage Prevention Industry - Irth Solutions
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Building Construction Workers

In a recent dp-PRO webinar, Matthew Abbitt, Chief Product Officer at Irth, 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.

 

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