Joined-up risk assessment

The nature of risk is changing. Energy companies, well-skilled in managing market risk and operational risks, may now need to adopt a new stance towards risk management, write Rohit Bhapkar, Roland Rechtsteiner and John Stroughair

Traditional risk assessment with a siloed view of risk is not well suited to the holistic analysis that today's increasingly complex environment requires. The biggest risks today may not fit easily into standard classifications. As we move into an era where security of energy supply poses an ever-greater risk to industry, the siloed approach to risk assessment is no longer adequate. Investment decisions must be based on assessing multiple risks, ranging from geological and geopolitical through