Workpackage 3: Mitigation, Minimisation
and Management of Risk
Summary
Leaders: George Mermiris (Strathclyde/Glasgow), Professor Jonathan Side (ICIT/HWU) and Dr Rob Harris (HWU)
In addition: Colin Bullen, Dr Sandy Kerr, Dr Karl Stephen (ICIT/HWU). Professor Nigel Barltrop (Strathclyde/Glasgow) and Dr Gareth Davies (OREF).
Overall Goal: To explore and determine means for investment risk and insurance risk mitigation, minimisation and management, and appropriate roles for EMEC and other organisations in mechanisms for risk reduction and management.
Introduction: Developers, insurers and investors face initial uncertainties and risks associated with the development of marine energy device deployment and operation. Little formal categorisation or estimation of these has been undertaken. The proposed work strands have no overlaps, but rather a synergy, with the Supergen Marine Renewal workstream on risk and reliability which has as its focus the determination of failures within the internal marine energy convertor (MEC) systems, and means of extrapolation of industry data to these unusual operating environments. The following strands are complimentary to this, and additional ones are already emerging.
Resourcing Estimate
Support required for input of staff time and springboard proposals from any strand to be considered as funds arise by the Steering Group.