HPCL-Mittal Energy Limited’s Post

Master proactive risk management in oil and gas. Explore strategies, best practices, and system implementation for risk management and success. Read our blog for further details. https://lnkd.in/gdfebtb8 #vegasconsulting #riskmanagement #oilandgas #apistandards #apicertification #qualitymanagementsystem #audit #riskassessment #riskmanagementstrategies

📉 Risk Management in Utilities goes far beyond having the right purchasing strategy. We have put together an overview of some of the key principles involved in effective Utilities risk management. To read and find out more, click below or visit lcutility.co.uk:

Exploring the differences between qualitative and quantitative risk assessment methods in the oil and gas industry, this article delves into their benefits, applicability, and unique approaches for effective risk management. #SynergenOG #Blogs #RiskAssessment #QualitativeAnalysis #QuantitativeAnalysis #OilAndGas #ProjectManagement #RiskManagement #RiskAnalysis #PetroleumIndustry #OilAndGasProjects #ProcessSafety #PipelineIntegrity #HAZOP #HAZID #FaultTreeAnalysis #BowTieAnalysis #RiskMatrix #Safety #DecisionMaking #OilAndGasIndustry #RiskMitigation #RiskPrioritization

ESG risk management is the process of identifying, assessing, and mitigating the risks associated with environmental, social, and governance factors. This approach is becoming increasingly important as investors, regulators, and stakeholders are placing greater emphasis than ever before on sustainability and responsible business practices. Read more in our useful blog below.

Using an integrated risk management solution, in the energy and utility industry has been pinpointing areas of high risk, predicting the frequency of incidents, and uncovering opportunities to reduce costs. Here's how utility and energy companies can lower their total cost of risk and use data to build more effective risk management strategies.

Construction risk management is an emerging field that has not yet reached the same level of sophistication as risk management practices in banking and finance. In these sectors, risk management systems are well-established, leveraging advanced analytical tools and frameworks to mitigate potential threats. Conversely, many construction industry leaders tend to overlook the full potential of effective risk management, often viewing it as a secondary concern rather than a critical component of project success. This oversight can lead to significant vulnerabilities, including cost overruns, schedule delays, and safety issues, which ultimately affect project outcomes. As the construction industry continues to evolve, embracing comprehensive risk management strategies could serve as a vital support mechanism, enhancing operational efficiency and project sustainability.

Our Risk Management services cover the elements of organizational policy and risk framework alignment, risk assessment facilitation, and specific risk analyses as well as the implementation and monitoring of portfolio, program, and project-related risks which include: • Corporate and Enterprise Risk Management • Strategic Alignment • Project Risk Assessment • Technical Risk Assessment • Safety Risk Assessment • Risk Monitoring and Control • Audit   Effective risk management from the outset of a project can significantly increase its likelihood of success. By planning for unexpected events, project teams are better equipped to respond to them if they arise.   VBKOM Mining Consultants Canada Ltd is proud to offer a fully comprehensive and integrated service to our clients. We subscribe to the ISO 31000 principles and guidelines and follow a structured and repeatable process. Our tailored approach is designed to fit the solution to the exact need and risk appetite of the client, organization or a specific project, ranging from organizations with well-established and mature risk management processes and structures to client organizations with no risk management structures.   Our offerings include: • Strategic assessment and risk policy alignment • Risk management process and planning • Qualitative risk identification and evaluation • Quantitative risk simulation and sensitivity analysis • Technical risk assessment • Risk structuring and reporting • Risk database implementation (operation monitoring and integration)   #RiskManagement #ProjectManagement #MiningIndustry #MiningConsultants #VBKOM

SEC Tightens the Reins: New Risk Management Requirements for Capital Market Operators The Securities and Exchange Commission (SEC) has directed all Capital Market Operators (CMOs) to implement an Enterprise Risk Management (ERM) framework that conforms to international standards. The commission gave the directive via a circular, a copy of which was sighted by The Eagle on its platform. SEC, in giving the directive, mentioned the ERM to include those of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the International Organization for Standardization (ISO 31000), Financial Action Task Force (FATF) Recommendations and any other internationally recognized risk management standards. According to it, adoption of comprehensive risk management practices had become imperative in minimizing systemic impact and safeguarding the interests of all stakeholders. “Taking into account an entity’s operational structure, business activities, clients’ demography, products and services including delivery mechanism among others, the ERM framework shall be developed to encompass the following: “Risk governance structure with clear roles and responsibilities, including the formation of a risk management committee. “Systematic processes for identifying, analyzing, and prioritizing risks that may impact the organization’s objectives. “Strategies to manage and mitigate identified risks. Risk appetite and tolerance statements. “Monitoring of risk factors and regular reporting to senior management and the board of directors. “Organizational risk-awareness programmes”.

Understanding ESG Risk Management: A Comprehensive Guide ESG (Environmental, Social, and Governance) risk management is essential for modern businesses to thrive sustainably. Our latest blog post delves into the critical aspects of ESG risk management, from identifying and assessing risks to implementing effective mitigation strategies. ""Effective ESG risk management not only shields a company’s image but also contributes to global sustainability targets,"" emphasizes the guide. Learn how your organization can integrate robust ESG practices to ensure long-term success and stakeholder trust. Read the full guide here: https://lnkd.in/ebKgNtyG #Sustainability #ESG #RiskManagement #ClimateAction

Effective ESG risk management requires clear ownership and collaboration. Boards and executives must explicitly understand how ESG-related risks influence company performance, while designated individuals should be responsible for managing specific risks. Learn more about the key elements of an effective ESG risk management strategy in this InsuranceBusiness article.