Balancing Act: Analyzing Risks in Energy and Water Management for a Sustainable Future

The energy sector witnessed a period of heightened activity marked by rising energy prices alongside post-pandemic economic resurgence and increased consumption. This surge underscored the imperative for effective energy management strategies to optimize efficiency and mitigate costs. Concurrently, the interplay between energy crises, pandemic repercussions, and climate change has underscored the critical need for robust risk assessment in water resource management. This research recognizes the pivotal role of intelligent Water Management Systems (WMS) in addressing emergent challenges, advocating for their widespread adoption to enhance resilience and alleviate water scarcity risks. Utilizing tools such as PESTLE analysis, scenario analysis, risk assessment analysis, and two questionnaires administered to professionals in the field, this study aims to identify and analyze risks inherent in both energy and water management systems, intending to formulate tailored strategies to navigate evolving environmental, economic and cyber- security landscapes. Key findings reveal significant risks, with notable challenges including legal issues (RPN: 7.3), funding shortages (RPN: 6.8), and lack of government support (RPN: 6.7) in the energy sector, and water pollution (RPN: 8.3), infrastructure deficiencies (RPN: 7.3), and operational costs (RPN: 7.3) in the water management domain. These insights inform the development of proactive risk mitigation strategies to enhance system resilience and sustainability amidst dynamic environmental and economic conditions.