What risks are the most critical
Do you look at production risks?
What about health and safety, and
There are many risks related to
asset management facing organizations today, with different probabilities
and severity of outcomes. Often
the implications of the risks are not fully understood.
If you are not able to operate
your physical assets when needed, is it just lost revenue for the duration
of the downtime? Or
additional costs due to expedited deliveries?
Or is the matter more severe, resulting in a permanently lost
customer because of missed deliveries in a JIT (Just In Time)
manufacturing environment? Customer
issues related to quality or customer service can have similar outcomes.
The negative outcomes related to
health and safety, and environmental violations have gotten much more
severe. As well as the amount
of the fines increasing for violations, more jurisdictions are imposing
jail sentences for the violations.
What is the risk impact to your
What is the risk impact to you,
given the responsibility of your position?