Enterprise risk management: Keeping people, assets and the environment safe
Operational risk management is a rising priority for companies in asset-intensive industry segments.Operational risk management is a rising priority for companies in asset-intensive industry segments. Disparate and disconnected efforts in safety, environmental compliance and asset utilization at the individual facility are converging to provide better enterprise-wide control and management accountability. Companies that make substantial efforts today will not only improve risk mitigation but also create an enduring competitive advantage.
Current operating realities expose companies to intensified regulatory oversight and public scrutiny. Also, losses from preventable adverse events continue to occur, with some industry segments exceeding $100 million per year. As the challenges of operational risk intensify, companies are increasingly seeking novel approaches to address the necessary behavioral changes, process transformations and technology integration.