Benefits of continuous risk management in (physical) asset orientated companies

Abstract

Identifying and analyzing physical asset risks was done periodic using workshops at Essent Network. Although for top 10 risk reporting a periodic, non-continuous approach is useful, for physical asset risk management it has its limitations. Why does periodic risk management not work in asset orientated companies? Which requirements are needed for asset risk management? How should asset risk management look like to comply with these requirements? At Essent Network we have explored these questions and determined, based on practical experience that for asset risk management the asset risk register is the most important element. In such a register a continuous approach, with detailed risk descriptions works best.