• Version 2018
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• Create Date February 2, 2019
• Last Updated February 2, 2019

The purpose of this policy is to set the principles and guidelines that the Company needs to adhere to in order to address the uncertainty associated with the planning, performance management and operations. This includes integrating risk management principles into decision making, core activities and business processes.

The Company is committed to making risk-informed decision by identifying, analyzing’ prioritizing’ and mitigating the risks that may have an impact on the Company achieving its mandate, strategic goals, operational objectives, projects and day-to-day activities. For Company to effectively fulfills its risk management commitment, the following principles should be adhered to:

• Integrated - Risk management is an integral part of all Company Name
• Structured and comprehensive - A structured and comprehensive approach to risk management contributes to consistent and comparable results.
• Customized - The risk management framework and processes are customized and proportionate to the Company Name external and internal context related to its objectives.
• Inclusive - Appropriate and timely involvement of stakeholders enables their knowledge, views and perceptions to be considered. This results in improved awareness and informed risk management.
• Dynamic - Risks can emerge, change or disappear as a Company Name external and internal context changes. Risk management anticipates, detects, acknowledges and responds to those changes and events in an appropriate and timely manner.
• Best available information - The inputs to risk management are based on historical and current information, as well as on future expectations. Risk management explicitly takes into account any limitations and uncertainties associated with such information and expectations. Information should be timely, clear and available to relevant stakeholders.
• Human and cultural factors - Human behavior and culture significantly influence all aspects of risk management at each level and stage.
• Continual improvement - Risk management is continually improved through learning and experience.