SIMEO™ ERM, or how to carry out and handle risk management
Whether one has already initiated a risk management activity in one’s own enterprise, or one feels the interest to set up such an activity, one often faces a need of guidance or of tools for performing this risk management.
Profiting from its consulting experience in management of risks related to civil engineering infrastructures, OXAND has identified this need and completed its offer in the field of assistance in management of operational risks (see Figure).
Illustration of OXAND’s offer
The guidance offer proposed by OXAND allows setting up management of operational risks (owner’s risks, project risks, corporate risks) and guarantees the operational development of this risk management. This offer coincides with the current rise in implementation of the ERM (Enterprise-wide Risk Management) approach, which can be seen at an international level in most economic sectors.
HOW TO CARRY OUT MANAGEMENT OF OPERATIONAL RISKS?
A first strategic phase consists in defining the risk management policy, the role of each player, the process, etc.
The second phase, an operational phase, aims to transmit this policy to all the actors by providing them with the necessary training so that they adopt it and apply it to concrete projects or activities. This second phase will also include the introduction of a collaborative risk-reporting tool: SIMEO™ ERM.
HOW TO ENSURE THE OPERATIONNAL SUCCES OF THIS RISK MANAGEMENT?
From experience, OXAND has observed that the operational setting up phase is often the most delicate and that success of risk management depends on it. Benefiting from method and experience is an asset for the success of this step. This is what OXAND proposes in its offer for risk management assistance, which includes:
- Setting up assistance
- Assistance on more difficult matters
Eric PAPILLOUD, Technical Director and responsible for risk management within HYDRO Exploitation SA:
“Within the framework of the continual enhancement of our work as operators of hydro-electric installations in Western Switzerland, we have felt it was necessary to reinforce our tools for risk management. Since 2006, OXAND has been helping us to structure a general management approach of risks related to all of our activities. Our 400 associates have now a risk management process and competitive tools that help them, on the one hand, to recognise uncertainty related to their activities and, on the other hand, to favour a risk anticipation culture. The reporting tool SIMEO-ERM helps us to communicate better on our various risks and on the action plans that we carry out to control these risks. Our capacity to manage efficiently our own risks and those of our clients is an important asset that consolidates our position on the Swiss energy market and it enables us to continue our expansion with confidence.”
SIMEO™ ERM OR HOW TO KEEP RISK MANAGEMENT GOING?
OXAND has developed a tool named SIMEO ERM, in order to help the operational setting up of risk management, the risk monitoring and the decision making.
This tool enables you to create a shared space about risks, with remote access and which helps the operational display of risk management.
SIMEO™ ERM is first of all a decision making tool for conscious and thought-out risk taking, based on a summarised presentation of information (mappings, risk dashboard, and treatment actions).
SIMEO™ ERM is also an intuitive tool simple to use, whose parameters can be defined very rapidly. It is compatible with all the international norms on risk management, and can be quickly incorporated into any company.
International reference framework on risk management