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Risk Management System

Transfield Services has developed a Risk Management System, based on a ‘Think Risk’ culture, across the company. The System includes, strategic and operational risk assessments, and action plans that provide a comprehensive set of reports to identify, and assist in, the management of risk.

Initiatives include:

  • Company-wide risk management identification and reporting through a Web-based, electronic risk management system - the ’Risk Portal’;
  • Incorporation of risk management into everyday organisational management;
  • Automatic escalation of risk elements when allowable thresholds are exceeded;
  • Exception and trend analysis reporting to Executive Management and the Risk, Audit and Compliance Board Committee; and
  • Continuous review and improvement of risk management procedures.

The Risk Portal ensures that the control and mitigation of site risks are visible to senior management. The application is an important management tool that assists with identifying, assessing and reporting all potential risk-related outcomes fundamental to the company’s business. It assists management to identify where to provide additional resources to combat risks through interrogation of the system.