Resource Centre
Resource Centre Login
Need a Login?
If you would like to have full access to the Resource Centre which includes demos, white papers, and technical documentation, then please click here to request a login.
Interested?
If you would like to find out more information about any of our products or contact us to discuss how we can help you, then please click here.
Alternatively contact us on telephone number +44 (0) 208 410 4000 or via email info@strategicthought.com.
Search our site
Download full Case Study as pdf
News
-
2nd Half ARM Wins! ()
STG announces 14 new contracts in both the US & the EU in the second half of YE2008, including USAF. more
-
Innovation in ERM ()
CEO Martin Metcalf looks at the role of innovation in enterprise risk management more
-
New VP Global Marketing ()
Peter Robertshaw joins STG as new VP Global Marketing. more
-
Metcalf on risk-reward ()
CEO Martin Metcalf on how risk management must evolve to include risk and reward more
-
Teixeira In New VP Role ()
Tom Teixiera is appointed VP Enterprise Risk Solutions. more
Risk Case Study >
Essent Netwerk
Energy company turns on ARM from Strategic Thought for Asset & Enterprise Risk Management
Risk management is an integral part of the energy distribution business. Every high voltage network is designed with redundancy built in so that in the event of a failure it will still operate. The secret is to find a balance between the cost of mitigation of potential failure and the benefits that the extra investment provides.
Ype Wijnia, Risk Manager, Asset Management, Essent Netwerk BV explained, “To run the network we have about 1000 different types of assets. Each type of asset has its own failure modes and failure probabilities so the total risk volume is many thousands of things that can go wrong. To manage that amount of risk you need a dedicated software tool. Prior to the installation of Active Risk Manager we used Excel, Powerpoint and Word documents but it became increasingly difficult in terms of version control for analysis and comparison purposes.”
Why Active Risk Manager?
Because
of the constant expansion of the network the decision was made to look
for a system to control the increasing number of risks. Essent Netwerk
selected Active Risk Manager from Strategic Thought as it is a complete
enterprise risk management solution and its structure mirrored Essent’s
existing method of working.
According to Ype Wijnia, “It was almost as though Active Risk Manager had been specifically written for Essent. Our risk process complies with the PAS 55 Standard used by other major energy networks and developed by the Institute of Asset Management. It defines a certain number of steps and all of those are found in Active Risk Manager. The solution has more than a 90% overlap with our process and way of working – so it was a natural choice.”
Download the Full Case Study as a pdf from the box on the right