Strategic Thought

RM in your Industry >

 Utilities

Active Risk Manager is designed to fit in with your way of working, not make you adapt to it. Utilities companies have highly complex asset management requirements that also require risk management. Utility companies can use web-based ARM to share prioritized information with a much wider number of people and as a result make more balanced decisions.

Some of the benefits that ARM can deliver to Utility companies include:

• Software allows you to automate processing the constantly expanding number of risks affecting your organization.
• Comply with the PAS 55 Standard used by major energy networks and developed by the Institute of Asset Management
• Improve quality, increase speed and make cost savings in the management of asset and enterprise risk.
• Improve the quality of risk assessment for investment proposals by taking into account a more accurate level of risk.
• Speed up the risk management process.
• Manage more risks with fewer people
• Increase the status of risk management within the organization.

The top reasons why Utility Sector clients use ARM are:

• Cross functional visibility of effectiveness of mitigation strategies
• Ability to embed a risk culture whilst improving managers' understanding of controls on key assets
• Ability to focus on the bigger risks that are important to a regulator, the city, or media for instance
• Ability to focus on medium term strategy AMP 5 and 6 (15 years not 5)
• Cost savings through anticipation of occurrence rather than reaction to it
• It delivers a consistently applied process to manage the risk framework, implements appropriate triggers, and enables appropriately-timed management intervention.