In its effort to manage organizational risks and optimize opportunities, PSALM conducted a two-day refresher workshop on its Enterprise Risk Management (ERM) System held last 21-22 February 2019.
Catered for PSALM’s Management Committee, Managers, and Planning, Performance and Risk Management Officers, the reorientation was necessary to foster an in-depth appreciation of PSALM’s ERM procedures and to further enhance its implementation.
Workshop topic includes the risk management process with emphasis on the rating of risk and opportunity values, and crafting of treatment plans.
The PSALM ERM System covers strategic and operational risks and aims to aid the Corporation in fulfilling its mandate under an environment of uncertainty, increase the likelihood of achieving objectives, improve the identification of opportunities and threats, and effectively allocate and use resources for risk treatment.
PSALM is ISO 9001:2015 compliant and has been employing a risk-based approach in preventing potentially damaging events and achieving continuous improvement in its business processes.Back