Risk Management Process
Given the size of the EDP Group and its geographical diversity, it is important to define a transversal and consistent process at the level of the various Business Units, which at the same time recognises the heterogeneity of the businesses and activities in which the Group operates. In this way, risk management in the EDP Group is structured around five main phases (identification, analysis, evaluation, treatment, and monitoring), complemented by a prior phase of establishing the context, and by adequate levels of communication between the various stakeholders:
Fundamental phases Preliminary/continuos phases
1Establishing the context
- Asessment of the external and internal environment
- Defining the fundamentals for risk management
2Identification
- Comprehensive mapping of key risks (and representation in structured taxonomy)
3Analysis
- Establishment of risk criteria
- Risk Materiality Analysis (qualitative and quantitative)
4Assessment
- Exposure Assessement in light of risk appetite
- Definition of treatment strategies to implement
5Treatment
- Implementation and execution of the established treatment plan
6Monitoring
- Monitoring and reporting the evolution of risk indicators, materialization of events and progress of treatment measures
7Communication
- Continuous and bidirectional communication between relevant stakeholders
1747152466