1 . What is Hydro One’s Strategy?
Hydro One’s strategy is to semiannually interview all areas of the company and evaluate the particular biggest dangers are to the corporation. They will get ranking those dangers, and then develop ways to reduce those hazards. Those solutions will be examined on the quantity of risk reduction every dollar.
One of the most successful and efficient will probably be implemented for that year. The summary is definitely handed for the Risk Section for finalization. 2 . Why are they spending on the Bruce-Milton/Toronto collection and the Clever Meters? They can be spending on the queue and Intelligent Meters to enhance customer satisfaction, conserve energy and resources, and to increase capacity to answer require.
3. Adding yourself in the shoes of CEO Laura Formusa, what risks truly does Hydro A single face? Dangers faced are rising costs, lack of workers, uncertainty in government (upcoming election), safety issues, equipment failures, environment issues 4. Consider the portions of Hydro One’s ERM procedure. What are the strengths and weaknesses?
Advantages: full engagement of every part of the business, good sized quantities are able to observe things that others may not, highly examining of choices to mitigate, efficient Weaknesses: Risk specialists are not totally involved till risks have already been established by others, options intended for mitigation not used might be the important types, only managing is involved (what regarding some lower level workers discovering issues? ) 5. Should certainly private sector companies take hold of ERM in such a way similar to Hydro One’s way? I don’t think it will hurt. It’s full venture brainstorming.
A lot of people may think of things risk experts might be didn’t discover. If it helps save money, maximize customer satisfaction, and mitigates risk- it is probably worth it. six. What tips would you help to make to CEO Laura Formusa about the ERM procedure?
I would involve more little people. They may see something which the managers don’t. Get the Risk persons involved before to help set up options quicker.