In any industry it’s essential to have a successful process for managing risk and assets in place. This is particularly true in the financial industry, since insurers rely on https://expertalmanagement.de/ the premiums they collect from policyholders to invest in assets in order to generate revenue and maintain their financial stability. Assets are volatile, which is why it is crucial that investors take care of their investments. This includes knowing when to take on risk or take a lower risk in order to achieve their goals.
A good asset and risk management system is essential for energy and resource businesses to safeguard assets and maximize ROI over the course of their lifetime. This means identifying and taking into account the risks associated with the assets of an organization – which includes physical assets such as equipment and buildings, as well as intangibles, such as intellectual property and data.
The first step is to identify and name its assets. Ideally, each named asset should have a person in the organization with responsibility and authority over it. These individuals are most familiar of the risks associated with their respective assets and can reduce them effectively. These individuals should be consulted by the risk management department to evaluate the potential threats and vulnerabilities.
The business can then prioritize the risks that are identified. This is usually determined by the likelihood of occurrence and the impact of each risk on the business. The highest priority risks need the greatest security implementation, investment and attention. Other risks should be addressed as needed, while taking into consideration the company’s needs for operations and regulatory compliance.