Risk management: 5 out of 5 stars for E-Bridge approach

In 2019, wesernetz Bremen GmbH together with E-Bridge has conceptually developed and implemented a risk management system within the scope of asset management. At the review in September 2020 an anonymous survey of the users of the process “The introduction of a risk management system was a good decision” resulted in a unanimous approval (5 out of 5 possible stars).

Due to a high need for investment in all lines of business and simultaneously scarce resources – especially in the civil engineering sector – wesernetz is increasingly faced with the challenge of explicitly considering risks in asset management decisions in addition to economic and regulatory optimization. Together with E-Bridge, an analysis of the existing asset management was first carried out and mirrored to the ISO55000 standard.

As a concrete measure, it was decided to establish a risk management system. In addition to the requirements to create transparency, objective comparability (also between the divisions) and clear responsibilities, an efficient and practically quickly applicable solution was the goal. Within three months E-Bridge tailored its best practice approach, in close coordination with all relevant departments of wesernetz, to the individual needs and developed an implementation roadmap. Among other things, corporate values for wesernetz were developed as a basis for risk assessment. Subsequently, the processes were detailed and documented, the tools such as risk acceptance matrix and risk register were developed, interfaces to other risk management systems such as ISMS were defined, a piloting of the processes and tools was carried out, comprehensive employee training was conducted and the risk assessment was applied to the known TOP risks. The implementation was completed after six months.

The risk management system has been in regular operation since January 2020. About nine months later, wesernetz and E-Bridge conducted a review of the risk management system in the course of the implemented Plan-Do-Check-Act cycle. This involved both an online survey of all affected employees (from “risk reporters” to “risk process managers”) and an analysis from a management perspective. Employees across all affected areas and hierarchical levels are satisfied with the risk management system:

  • The corporate values are used as a multi-criteria basis for decisions.
  • The systems for analysis and evaluation improve the understanding of risks in terms of technical correlations and possible consequences.
  • The risk acceptance matrix is helpful in the practical prioritization of risks.

Nevertheless, concrete approaches for improvement have been derived, such as a stronger adaptation of the tools to the needs of the users, a clearer delimitation of the topics to be reported or a higher automation in the process through a professional software solution. The consequence of the implementation of risk management decisions will be the focus of the next review, as almost all of the defined measures have a long-term effect, e.g. by adjusting a renewal strategy.

E-Bridge will continue to accompany wesernetz as a sparring partner in monitoring and continuous development of the risk management.

 

Related publication:

“Werteorientiertes und riskobasiertes Asset Management für Netzbetreiber” (Article ew, Issue 11/12 2019)

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