Sustainability Report 2014 - page 66

Risk Management
With expanding operations and increasingly
complex projects stretching across new
geographical areas, CCC has recently embarked on
enhancing our risk management framework. Our
dedicated effort has resulted in a standardized
structured approach to cover risk assessment and
analysis of all our projects and corporate activities.
At the project level, we prioritize risks based on
likelihood and impact ratings that are measured
relative to project objectives; including schedule,
cost, and quality. At the Group corporate level, we
follow a similar risk rating approach, but look at
the overall impact relative to our corporate goals;
including strategic, financial, operational, and
compliance objectives.
CCCbelieves that
integratedrisk
management is
amust toensure
sustainabilityforall
ofour stakeholders
Taking risks within the Engineering & Construction industry is an inherent
part of doing business. All of our projects are complex undertakings that have
to be completed against challenging requirements and constraints, thereby
requiring constant risk assessment and analysis to ensure that we meet our
obligations. We operate in many remote and sometimes risky locations,
requiring that we follow a structured and uniform approach for addressing
our business risks, across all our value chain activities.
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Consolidated Contractors Group S.A.L. | Sustainability Report 2014
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