A waste management company required a comprehensive risk management system to be introduced as part of a major reorganisation. One of our waste specialists worked with the board directors in developing and implementing a full risk management solution.
The system comprised of financial, logistics, regulatory and legal analytical tools and benchmarks which helped identify business risks and put in place measures to eliminate or reduce those risks.
Risk appetite appraisal was also undertaken to develop a policy for future risk management within the company. Risk appetite is the level of risk that an organisation is prepared to accept in pursuit of its objectives, before action is deemed necessary to reduce the risk. It represents a balance between the potential benefits of innovation and the threats, that change inevitably brings. The ISO 31000 risk management standard refers to risk appetite as the “Amount and type of risk that an organization is prepared to pursue, retain or take”.
Following the successful assignment the company sold its commercial arm in a multimillion pound deal.
If you require risk management advice or support for your business, please contact one of our team.