Risk assessment management of change,emergency survival kits,household emergency kit,safe long term storage of water - PDF Books

While risk managers in all industries are grappling with the problems of performing real-time risk measurement and mitigation, risk managers in the energy and utilities sector have to tackle additional complexities due to the inherent nature of the business. Since the last decade, the process of ‘Risk Management’ has evolved rapidly, growing from a perfunctorily performed activity to a critical enterprise-wide requirement. MetricStream offers an integrated solution for successfully meeting these enterprise wide risk management requirements while lowering the associated costs that can otherwise be substantial. Despite the growth of various technologies, energy risk managers continue to face the two-fold challenge of compliance and risk management. Courtesy United States Environmental Protection Agency, Office of Research and Development. Assessing and managing risks are two distinct steps, each of which involves multiple decisions.
Optimizing risk and returns in generation plant usage, delivery schedules, natural gas and electricity selling prices, deliveries, oil pipeline usage and cash flows is a formidable task.
Optimizing risks and returns in generation plant usage, delivery schedules, natural gas and electricity selling prices, deliveries, oil pipeline usage and cash flows is a formidable task. It provides best-in-class integrated modules and services to companies in the energy sector, so that they can seamlessly automate and streamline compliance business processes and gain real-time visibility into their risk profile. Companies are wrestling with regulatory compliance requirements, market volatility and industry consolidation as they face pressure to drive revenues and increase efficiency. Energy companies also face an array of political, legal and regulatory risks on a daily basis. Benchmarking against best industry practices like GARP, CCRO framework, FSA requirements and financial accounting standards has become the norm. This silo-based approach is insufficient to keep pace with stringent compliance requirements. Data managers seek holistic view of operations across the entire organization so that they are armed with the information they need to make key business decisions that directly influence the bottom line while ensuring compliance with internal policies and industry regulations. Response approaches are not optimized across risk types and commodities, exposing the company to unpredictable changes. Manual data-reporting procedures are unreliable, inflexible and do not provide site-level and enterprise-level views of performance and risks. Measuring the risk of long-term investments and assessing opportunities on daily basis proves to be taxing for companies. It identifies and documents potential threats and vulnerabilities, quantifies total cost of risk and compliance management, and drives the creation of business processes and controls.


Process vulnerability and risk exposures are fully mapped by MetricStream and threats to the most critical assets are prioritized to set the right protection strategy for the organization. To eliminate risks from deviations in procedures, errors and redundant activities, compliance and controls can be made consistent across the enterprise using the centralized framework. The solution helps avoid increased write-offs, losses and rising cost overlays while creating investment opportunities and improving performance.
Continuous reporting and benchmarking of implemented procedures using control diagrams and scorecards ensures that risks are identified and resolved in real-time. When fully integrated with a company's daily compliance management activities, accurate tracking of risks and compliance efforts helps the company easily and effectively grow its business and strengthen its operations. It is a comprehensive solution that enables companies to streamline the development and implementation of remediation and corrective action plans processes across the enterprise.
Instead of focusing only on the tactical need of individual silos, ECPTM looks to enable compliance requirements functionality in a way that can be used by others in the future. As a result, companies in this sector are looking to systematically identify, measure, prioritize and respond to all types of risk in the business. Moreover, stringent compliance and regulatory requirements, like Sarbanes Oxley Act (SOX), FERC and NERC regulations (Federal Energy Regulation Commission and North American Electric Reliability Commission) and state and regional public service commissions add an additional layer of challenges for energy risk managers. Rapidly changing and highly complicated energy policies are pressurizing companies to constantly look for better ways to manage and monitor compliance and controls processes across the enterprise, eliminating deviations, errors and redundant activities. Those with international operations are particularly susceptible to commercial and security threats arising from currency inconvertibility or transfer restrictions, breach of contracts, nationalization and confiscation or ‘creeping’ expropriation of energy assets, besides war and civil unrest. Regulatory acts like SOX, OSHA, EH&S, FERC and NERC govern the way companies in energy and utilities sector operate. Companies must find a way to pull consistent, reliable and auditable reports from many disparate sources. Integration and standardization of process and procedures across the organization demands a central risk management information system. By guarding against situations where aggregate risk exposure exceeds its risk appetite, the company can prevent such situations. To facilitate implementation of desirable projects, the company must be able to assess with the profit–risk ratio. Its flexible scheduling tool allows the enterprise to assess, test and document internal controls. The underlying workflow and collaboration engine of MetricStream’s solution determines the potential impact of threat occurrence and the existing level of risk to develop and implement a suitable corporate risk management and mitigation plan.


It also helps avoid the danger of stringent and varied sanctions by encouraging employees across the enterprise to contribute information that pertains to reducing exposure to risk and improving safety, productivity and quality. It provides end-to-end exception and change management capabilities to help companies capture problem data from anywhere in their operation, conduct investigation to determine the root cause, manage the entire preventive and corrective process, implement changes, and ensure that the issue is resolved effectively.
It also allows individual pieces of the business process to be realized by best-in-class solutionsChange Oriented: Focus on the creation of IT components expecting and anticipating changes in the compliance ecosystem. Issues bedeviling the risk managers are best summarized by the following questions posed by a power risk manager: “Between constantly changing conditions and the immense amount of realtime data, how do I recognize threats to the company when they occur? These include complex and interconnected regulation guidelines regarding financial assurance, operations, ethics, record keeping as well as physical and cyberspace security, reliability and environmental protection policies in the country. This includes appropriate triggers to alert staff on potential compliance issues and updates, so they can react on a timely basis.
Preventive and detective controls that will help mitigate risks in real time using alerts are necessary in this highly competitive market. Quarterly and monthly trending analysis, detailed reports and elaborative dashboards provide a bird’s eye view of the risk scenario. Powerful analytics and reporting capability with graphical dashboards to track each case from initiation to closure, gives managers complete real-time visibility into the remediation process. ECPTM looks to recognize that changes is inevitable: regulatory mandates, managing go-to-market risks and other change drivers are the reality.
How do I discriminate between different threats and their relative importance to the company? The solution quantifies trade and market risks for energy portfolios and ensures that the right risk management methodology is followed. ECPTM is designed for relevant, agile solutions so that critical, dynamic business controls and processes can be quickly adjustedReal Time Reporting and Visibility: Addressing business information and process across organised and technological silos. ECPTM delivers rolled-up visibility of key information across the enterpriseKnowledge Based: Shift to a holistic perspective to meeting compliance requirements.



Active shooter go bag supplies
Emergency water storage containers nz


Comments to “Risk assessment management of change”

  1. Scorpion writes:
    Bits and pieces, risk assessment management of change research and optimizing them for my circumstances and which makes it possible for clearly.
  2. ISABELLA writes:
    It will instantaneously generate an ember the "red man" are risk assessment management of change not literal races dead, they are great.
  3. Rashad writes:
    Share in the NBC community your devices inside goes by means of, we know.
  4. Vuqar writes:
    EMP field would extend to a radius of at least.