Asset and risk management is the process of identifying, assessing, and reducing risks that are in relation to the organization’s assets. This includes both tangible assets such as buildings and equipment as well as intangible assets such as intellectual property and data. The aim is to safeguard these assets and make sure that they are effectively used to achieve business objectives.

To conduct a successful risk assessment of assets The first step is to recognize the entirety of a company’s assets. This encompasses both physical assets as and intangible assets such as intellectual property and customer lists. After identifying all assets and identifying the risk of each asset, the next step is assessing the risk of each asset. This includes both the risk of loss and the risk of unauthorised access or use.

After a business has assessed its risks, it’s essential to determine the magnitude of any breaches or losses and how the losses can be minimized. A good asset management plan is vital, since it permits businesses to implement strategies that will minimize the chance of risk and limit any losses.

It is also essential to define the operational risks that support the business process ‘from front to back and know how those risks impact the products of the firm. This will provide an understanding of the risks associated with each product and assist in determining the best way to mitigate those risks.

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