Asset and Risk Management for Energy and Resources Companies

For any business it’s crucial to have a successful asset and risk management process in place. This is particularly true for the financial sector, where insurers put the premiums they earn from policyholders into assets to generate revenue vermogensverwaltung and maintain the viability of their businesses. Assets are prone to volatility, therefore it is important that investors manage their investments well. This means knowing when to take on more or less risk to reach their goals.

Additionally, a well-designed process for managing risk and assets is vital for companies in the fields of energy and resources to safeguard their assets and get the highest ROI over their lifespan. This involves identifying and assessing the risks that are associated with an organization’s assets – including physical assets like equipment and buildings, as well intangible assets, such as intellectual property and data.

First, a company should identify and identify its assets. Ideally, each asset named should have an owner within the organization who has oversight and responsibility over it. These individuals know the risks that are associated with their assets and can reduce the risks effectively. These individuals should be consulted by the risk management department to assess possible threats and vulnerabilities.

From there, a business should prioritize the identified risks. This is usually in relation to the likelihood of the risk occurring and its impact on the business. Risks with the highest priority should receive the greatest security implementation, investment, and attention. The other risks should be addressed if necessary and while taking into account the company’s operational requirements and regulatory compliance.