Slides behorende bij een webinar over de rol van risico management binnen asset management. Asset Management heeft immers als kerndoel om opbrengsten, kosten én risico’s met elkaar in balans te brengen. Kosten en opbrengsten zijn vaak duidelijke grootheden; maar hoe neem je risico’s mee in deze driehoek?

1. Wij starten binnen enkele ogenblikken.
U kunt vragen stellen via de Q&A knop in het Zoom-menu.
Tijdens het webinar staan alle bezoekers op ‘mute’.
Welkom bij het Webinar
RISK MANAGEMENT IN ASSET MANAGEMENT

2. IN ASSET MANAGEMENT
RISK MANAGEMENT
U bent er zich misschien
niet van bewust, maar u
bent ook Risk Manager!

3. Communication
Organisation wide
Visualise
Individual responsibility
Dedication
Reduce Exposure
HEALTH & SAFETY
TOPIC CORONA/COVID-19
22 APRIL, 2020 3

4. ASSET
MANAGEMENT

5. Business
drivers
Value(s)
Out-
come
Risk &
Opport
u-
nities
Cost
HOW TO BALANCE
MAIN FACTORS?
VALUE (CREATIE)
CENTRAL
522 APRIL, 2020

6. Kader
‘Enablers’
Primaire AM proces
STORK AMT
ASSET MANAGEMENT MODEL©
22 APRIL, 2020 6

7. eg:
• Develop AM P&S
• AM Competence
mgt
• Audit AM system
• …
eg:
• Preventive
maintenance
• Inspections
• Calibration
• …
<- Managing assets
General Management
<- Asset Management
versus
WHY IS ‘ASSET MANAGEMENT’
NOT THE SAME AS ‘MANAGING ASSETS’
722 APRIL, 2020

8. SOME BASIC
RISK CONCEPTS

9. Do mind to evaluate the correct implementation of ISO 31000 (11 principles, framework and analysis)
elements.
1. Establishes and sustains value,
2. It is an integral part of organizational processes,
3. Part of decision making,
4. It explicitly addresses uncertainty,
5. Systematic, structured, and timely,
6. Based on the best available information/knowledge.
7. Tailored to the organization/project/scope,
8. It takes human and cultural factors into account,
9. Risk management is transparent and inclusive,
10. Risk management is dynamic, iterative, and responsive to change,
11. Risk management facilitates continual improvement of the organization.
RISK MANAGEMENT
11 PRINCIPLES (FROM ISP 31000)
922 APRIL, 2020

10. ISO 55000 refers to ISO 31000
for risk management
What is risk?
 (Still) uncertain
 Future potential event
 Often Likelihood * Severity
 Included in investment decisions (standstill)
Crisis management is not risk management anymore
RISICO MANAGEMENT
ALSO IN ASSET MANAGEMENT
1022 APRIL, 2020

11. RISK
UNIVERSE, TOLERANCE, APPETITE
1122 APRIL, 2020
Source: https://gertjanstoker.wordpress.com/tag/risk-appetite-statement/

12. How about asymmetric
distributions?
One cause multiple
consequences?
Multiple causes, same
consequence?
PROBALITY IS NOT VERY INTUITIVE
AND HAS A TIME VALUE
1222 APRIL, 2020

13. Source: https://www.asqs.net/solutions/aviation/risk-management-module
BOW-TIE MODEL
1322 APRIL, 2020

14. RISK CONCEPTS
IN AM PRACTICE

15. Risk Appetite – In our organization?
RISK ASSESSMENTS
ODDLY DIFFERENT ‘STANDARDS AND NORMS’
1522 APRIL, 2020

16. INDUSTRIAL RISKS METHODOLOGY
Equipment Failure
Human factor
Unforeseeable circumstances
RCM, FMECA, RBI,…
TRA, LMRA,…
Emergency plans,…
Process
(Storage, reaction, transport,…)
HAZOP, PRIE,…
RiskSource
RISK ASSESSMENTS
OUR RISK UNIVERSE
1622 APRIL, 2020

17. Risk cascade
Unmitigated Risks
Sev X Prob
Risks  current
Safeguards
Sev X Prob
Risks  Safeguards
Sev X Prob
Residual Risk
RISK ASSESSMENTS
WHERE TO START?
1722 APRIL, 2020

18. Critical functions?
Consequence analysis!
RISK ASSESSMENTS
WHAT HAS PRIORITY?
1822 APRIL, 2020

19. 1. Accept
2. Prevent
3. Control Consequence
4. Transfer (outsource/
exclude)
RISK TREATMENT
MITIGATION STRATEGIES
1
2
3
4
1
2
3
4
19
22 APRIL, 2020

20. Risk = Severity X Probability
Risk = Cost X Probability
RISK ASSESSMENTS
TRANSLATE TO UNIVERSAL MEASURE
2022 APRIL, 2020

21. Medium
Low
 Workflow
 RCM Coverage
 (Online) Condition monitoring
 …
High
10% 20% 70%
RISK ASSESSMENTS
TYPICAL RESULTS
2122 APRIL, 2020

22.  Analyse unmitigated risks first:
• No Safeguards (spare parts, preventive maintenance, SIS,…)
• Re-assess with safeguards
 There is only one event/scenario (failure mode)
 There is a normal situation (general proces, power availability etc)
 Basic controls/supervision
 Most likely/worst case scenario?
RISK ASSESSMENTS
MAIN ASSUMPTIONS IN ANALYSIS
2222 APRIL, 2020

23. 1 Slight effect, injury without absence through illness
3 Important, injury with absence
7 Severe, lasting injury with absence
15 Very severe, a fatal casualty
40 Disaster, multiple fatal casualties
Severity
70%  1 = 0,7
28%  7 = 1,96
2%  15 = 0,3
(Source:Fine & Kinney)
Most likely/worst case/… scenario?
Weighted Severity
RISK ASSESSMENTS
EXAMPLE AND DILEMMA
2322 APRIL, 2020

24. WHAT DO YOU
NEED TO START?

25. • Use a clear, practical proven approach & structure and facilitate
discussions and analysis
• Involve relevant knowledge
• Challenge the status quo by looking at ‘naked’ or gross risk
• Translating outcomes in sensible actions
• Learn, Improve, Adapt and Repeat
STARTING WITH RISK MANAGEMENT
IN ASSET MANAGEMENT
2522 APRIL, 2020

26. Questions?
Via Q&A
Bram Hes
Bram.Hes@stork.com
+31 6 204 11 591
Gert Boeckmans
Gert.Boeckmans@stork.com
+32 49 99 86 107
Or contact our Subject Matter
Experts:
26
RISK MANAGEMENT
IN ASSET MANAGEMENT
22 APRIL, 2020

27. THANK YOU FOR
YOUR ATTENTION