Risk management is integral to the planning, management and operational functions of Citywide. It is positively influenced by company values and is consistent with our efforts to provide the highest quality service to our customers.
Managing the risks that affect our business as a fundamental activity, as they influence our performance, reputation and future success. Effective risk management involves taking an integrated and balanced approach to risk and reward, and assists us in achieving our objectives of mitigating potential loss or damage and optimising financial growth opportunities.
At Citywide we see risk management as the process of making and implementing decisions to eliminate or minimise the adverse effects of unforeseen losses to the company, its employees and stakeholders.
Reliable management, reducing risk across the board
Citywide recognises the importance of continuous and reliable management of risks associated with every contract. To this end we have developed and continually updated a risk management plan, which specifically recognises all potential risks, assessment of those risks and provides suitable treatment strategies along with contingency arrangements.
Broadly, risk management plans cover the approach we will to use to mitigate risks associated with the contract. There are nine broad risk categories identified with context for risk identification associated with performance:
- Service deliver (may be affected as the result of the occurrence of a risk event)
- Commercial and legal relationships (between the organisation and other organisations such as suppliers, subcontractors, lessees etc);
- Economic circumstances (state, national and international factors contributing to the economy such as exchange rates, interest rates etc);
- Assets and security (natural or man made acts that impact on assets, acts of vandalism);
- Human behaviour (both those people involved directly and indirectly with the contract);
- Natural Disasters (drought, flood, earthquake, storm)'
- Political Circumstances (legislative changes and other factors which may influence other sources of risk);
- Technology and technical Issues (new systems, equipment processes, both internal and external to the Company) and;
- Environmental (impacts such as noise, pollution and emissions)
Citywide's Risk Management System is based on AS/NZS 4360:2004.
Download our Safety, Quality, Environmental & Risk Policy