Fugro’s risk management policy is aimed at the long-term sustainable management of its business activities and the limiting or, where meaningful, hedging of the associated risks. Due to the wide diversity of markets, clients and regions and its broad portfolio of activities, quantifying all the existing risks relevant to the Group as a whole is virtually impossible. Risks are, however, quantified wherever possible and useful. This applies amongst others to the influence of the exchange rate of the US dollar, the Norwegian kroner and the British pound.
Risk Management covers the following topics:
Strengths, Weaknesses, Opportunities, Threats
Activity portfolio, Contract flow and price changes, Capacity management
Balance sheet, Currency exchange rate conversion, Pension provisions, Information and communication technology (ICT), Insurance and legal risks
- Internal systems
General Business Principles (code of conduct), Corporate handbook, Financial handbook, Insurance manual, Information and communication technology (ICT), Project Management handbook, Planning, Authorisation level, Letter of representation, Internal Audit, Peer reviews, Audit Committee, External audit, Advisory roles, Safety, Quality, Environment, Whistleblowers arrangements
For more information on risk management we refer to the chapter in the 2012 Annual ReportRisk management