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?
Transcript: New from BookNet Canada for 2024: BNC BiblioShare - Tech Forum 2024
Webinar | Risk management in asset management
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!
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
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
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
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
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
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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
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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
Asset management is first about making risk-based decisions, not reliability-based ones.
Reliability-based decisions do have their place and importantly so, but at the right time and with the right focus first identified through risk evaluation.
Risk-based decisions are strategic while reliability decisions are tactical and involve assessing options on how to address the overall expected reliability of an asset.
Asset management is first about making risk-based decisions, not reliability-based ones.
There is a big difference between the two. A risk-based decision is one that selects a course of action to address an area of risk: some realistic and likely event (based on asset condition, proximity, poor design, high failure rate, etc.) that at that time poses an unacceptable risk to the business, or a risk to the Level of Service (LOS). It is important to note that not every asset or system that flounders poses an equal risk – only the ones that significantly affect the objectives of the organization. Reliability-based decisions do have their place and importantly so, but at the right time and with the right focus first identified through risk evaluation. Risk-based decisions are strategic while reliability decisions are tactical and involve assessing options on how to address the overall expected reliability of an asset.