Risk Management Organization
Risk Management forms an integral part of the Company Corporate Governance, as it has the objective to determine the exposure to risks connected to the operation of each business lines and organizational units and to put in place the proper preventive and mitigating actions.
Risk Management provides in fact the Organization with the means and the knowledge for the early-detection of risks and drives people at all levels to take the adequate steps to deal with them.
Comau systematically applies its Corporate Risk Management Guidelines into the business processes and weighs the risks with respect to their potential level of damage and likelihood of occurrence; being fully aware that the continuous monitoring and improvement of the response strategies effectiveness is an essential pre-requisite for the creation of the value that bring benefits to Comau, its Customers and its business partners.
Enterprise Risk Management: Fields of Application
Comau’s Risk Management organization belongs to the Corporate Project Management Office; the main purposes of its activity is to provide a global framework for Risk Management in the Company and to collaborate with Business Lines (Operation and Sales) and Functions to ensure that:
- Acquisition of new Projects \ Contracts is always preceded by accurate Risks Assessments;
- Projects Execution is characterized by systematic identification, prevention and mitigation of Risks;
- Portfolio (BU, Region) Risk Analysis results are considered as a valuable support to be accounted to drive strategic decisions.
Moreover, Comau’s Risk Management organization is accountable for:
- Design, Organize and Deliver training sessions for Comau’s Employees worldwide in order to assure the spread and the standardization of the Best Methodologies and Practices in the field;
- Define, Develop and Distribute advances Tools that could facilitate and make more effective the Risk Management efforts for Project and Sales Management teams;
- Minimize the exposure to risks recurring systematically by collecting risk-related lessons learned that become a valuable Company Asset available to everyone within the Company;
- Ensure that Continuous Improvements in the field is achieved.