Underpinning the Resilience Flexibility for Critical Asset Risk Management

Managing critical assets is crucial as it supports a country’s economic and social growth. Besides, the functions and operations of critical assets are irreplaceable. These assets need to comply with comprehensive protection, excellent risk management and a mitigation plan to protect their physicality and functions. Thus, the main issue in managing the risk for critical assets is to manage and minimise the impacts of any threats (natural, man-made or technological threats) that can occur. The elements of resilience adaptability are the focus of this research as a strategic approach to risk management for critical assets. The research objective is to identify and analyse the resilience elements for critical asset risk management, particularly of port terminals. The methodology adopted in this research is based on a quantitative approach by distributing questionnaires to 75 respondents who engaged within the port terminal industry. The data are analysed using the Relative Importance Index (RII) and Cronbach’s Alpha to detail the resilience elements according to their significance level. Thus, this research contributes to the critical asset stakeholders and management in prioritising their action plan towards strengthening the resilience adaptability for effective critical asset risk management.