Risk Management

The Group has a defined step by step approach with respect to risk management. The above diagram illustrates the high level process, whereby risks can be managed through the 4 T’s, at each step.

Treat: Take action to control the risk either by reducing the likelihood of the risk developing or limiting the impact it will have on the project.

Transfer: Some of the financial risks maybe transferable via insurance or contractual arrangements or accepted by third parties.

Tolerate: Nothing can be done at a reasonable cost to mitigate the risk or the likelihood and impact are at reasonable level.

Terminate: Do things differently and remove the risk.