Asset and risk management is the process of identifying, assessing, and reducing the risks that are associated with the company’s assets. This covers physical assets, like buildings and equipment and intangible assets, like intellectual property and data. The aim is to safeguard these assets and make sure that they are used efficiently in order to meet business goals.

To conduct an effective assessment of risk for assets, the first step is to determine the company’s assets. This encompasses both tangible assets and intangible assets such as customer lists or intellectual property. Once all assets of a company have been identified, the next step is to determine the risk that each one poses. This includes both the possibility of loss as well as unauthorised access or use.

After a company has evaluated its risks, it’s important to determine the magnitude of any losses or breaches and how the losses can be minimized. This is where a good asset management strategy can be useful, as it allows companies to create and implement strategies that reduce the risk of risk occurring and minimize any losses that could occur.

It is also critical to understand the operational risks that are associated with the business processes ‘front to rear and know how those risks impact each of the firm’s products. This will provide information and understanding of the risks faced by every product and assist in determining the best way to manage those risks.

https://expertalmanagement.de/2020/12/26/vermogensverwaltung/