Risk Management Policy
Risk analysis has always formed part of the corporate strategy and management and design processes of “ELISION S.r.l.”. Risk Management is the set of procedures that enable “ ELISION S.r.l. ” to take decisions which minimise any adverse effects that may jeopardise the smooth operation of the company and harm its customers, suppliers and employees and the general community.
The Risk Management policy is the responsibility of the General Management. The aim is to control or mitigate the most significant risks to which Elision and stakeholders may be subject and to facilitate the achievement of its operating and financial goals.
In financial terms, it is fundamental for attaining our objectives, for taking new business opportunities, implementing new development plans and managing our operations in an efficient, professional manner.
The General Management pursues Risk Management objectives by defining operating procedures and tools that include the identification, assessment, management and monitoring of the risks inherent in the company’s business. Elision assesses the relevant risks on the basis of the likelihood of occurrence and the impact of any adverse events and draws up a mitigation strategy. Elision continually assesses its control parameters and takes the necessary measures to improve them.
Our processes are designed to ensure that Elision complies with laws and regulations.
The Risk Management Framework is reviewed annually during strategic planning, and discussed by the General Management. The General Management is responsible for identifying risks and mitigating them by taking the appropriate measures.
- Risk Management specifically addresses uncertainty: it takes into account uncertainty, its nature and how it can be addressed
- Risk Management creates and protects value: it helps to pursue objectives and improve demonstrable performance, such as in efficiency, the quality of products and services, project management, governance, reputation, and the health and safety of people and systems.
- Risk Management is an integral part of processes: it is not an end in itself, separate from the organisation’s main processes and activities. Risk Management is one of the management’s responsibilities and is an integral part of company processes and activities, including strategic planning, all primary project and service management processes and secondary supporting projects.
- Risk Management is part of decision-making: it helps the people taking decisions to make informed choices and to give priority to actions, by distinguishing between the possible alternatives
- Risk Management is systematic, structured and timely: these characteristics help to ensure efficiency, consistent, comparable results and reliability.
- Risk Management is based on the best information available: the input for risk management activities consists of all sources of information available, such as historic data, experience, feedback from stakeholders, comments, forecasts and expert opinions. Decision-makers must bear in mind not only all the information available but also the limits of this information or discrepancies between sources.
- Risk Management must consider the human and cultural factor by bearing in mind the perceptions and intentions of people inside and outside the organisation, which may facilitate or hinder the achievement of objectives.
- Risk Management facilitates the Organisation’s continual improvement