Enterprise Risk Management at Hydro One A
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– Enterprise Risk Management (ERM) at Hydro One: How We Did It When you’re talking about Enterprise Risk Management (ERM), the name alone probably sends up a red flag. It’s a fancy buzzword that can mean anything from controlling risk to setting an agenda, and the term’s often used by marketers and consultants as a way to bask in attention for themselves. In the case of Hydro One, though, ERM was an agile approach, implemented with some deliberate care and a commit
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As a Hydro One A, I was tasked to write a case study for a project to develop Enterprise Risk Management (ERM) systems and tools for our global organization. This project was a huge responsibility as the ERM program is a global program that had been running since 2010 with significant successes. The aim was to replicate our success and extend this program into our new operations. The ERM systems will be in place in various geographies, including Europe and North America, for operational risk management and asset management. One of the
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I have had the opportunity to witness Enterprise Risk Management at Hydro One A in action, and here is my first-hand experience of it. I was first introduced to the concept of ERM when I was part of a Hydro One A project, and during that time, I saw it take place. It was an eye-opening experience, and I learned that ERM is a strategic process that involves defining the risks of a project, analyzing the consequences of those risks, and developing and implementing contingency plans to mitigate or avoid them.
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Enterprise Risk Management (ERM) is an initiative by Hydro One to address risks to the company’s operations, assets and reputation. Hydro One is Canada’s largest electrical utility holding a 65% market share and serving about 2 million customers with a network of 22,500 km of transmission and distribution lines. ERM at Hydro One involves a process of continuous analysis and assessment of the company’s risk, including legal, regulatory, financial, reputational and strategic risks. ERM
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At Hydro One, we are committed to delivering safe and reliable electricity to our customers. Our Enterprise Risk Management (ERM) framework supports this commitment by identifying, assessing and managing risk at a strategic and tactical level. The purpose of the ERM framework is to provide a framework to manage risks, while maintaining the Company’s overall strategic direction and ensuring that the Company’s mission statement, vision, and values are effectively translated into operational performance. As a Canadian electricity company, we recognize the
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Hydro One A is a Canadian water utility with approximately 2,150,000 water customers in Ontario. It was founded in 2000 to provide a diverse range of water and wastewater-related services to the people of Ontario. look at here Since then, it has grown into one of the largest water utilities in North America. Read More Here The company’s mission is to provide its customers with safe, high-quality, and affordable water and wastewater services. My experience at Hydro One A was as a business development manager, primarily working with existing
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In Hydro One A, enterprise risk management (ERM) has become the most prevalent topic in the organization. It’s been a long journey that started from the first few years of the company’s operation and has become a critical element in ensuring the future growth, profitability, and success of the organization. The following discussion will provide a glimpse into the evolution of ERM practices in the company and also the way it has evolved from a ‘hand-holding’ method to an organized, structured, and holistic approach. The early