Assessment of business risks for oilsands major
The client, a large oil & gas operator, was looking to create for its oil sands division a corporate risk management process providing them with a long-term view (i.e. 15 years) of the most salient risks threatening the organization’s strategic objectives. These risks would consider all functions of the organization (i.e. operations, finance, engineering, etc.) and would encompass both internal and external issues. Oxand was commissioned to develop and implement the corporate risk management framework, and to assist in the identification, analysis and estimation of the client’s corporate risks, as well as develop risk treatment measures.
The study resulted in the following value addition to the client:
- Rigorous corporate risk management process, aligned with ISO 31000 standard
- Dashboard of the key risks that affect the organization as a whole
- Structured corporate level risk treatment plan and dashboard