The Risk Management and Opportunities process is based on guidelines and standards defined by Maire Tecnimont and applied by all subsidiaries. The objective is to guarantee a traceable and transparent method of analysis and control.
The process allows the monitoring of both the Enterprise Risk, the transversal risk of the various corporate functions of the Group, and the operational risks related to the commercial phase (Pretendering), the offer (Tendering) and the realization (Execution) of the projects.
Starting from the Pretendering phase, a Risk Rating is assigned to each commercial initiative. The risk analysis is updated on a regular basis (quarterly) according to the Rating assigned to the project to monitor its evolution. A specific periodic report shows the Risk and Sustainability Control Committee and the Board of Statutory Auditors the aggregate risk exposure results for each phase.
The commitment of the Maire Tecnimont Group on sustainability issues was strengthened with the assignment of new functions to the Control and Risk Committee within the Board of Directors. The new Risk and Sustainability Control Committee was appointed on 25 January 2018, and has the task of assisting the Board of Directors in assessing all the risks in terms of sustainability in the medium to long-term.
The Committee actively monitors the positioning on the issues of competence, with particular reference to the Group's positioning in the ethical sustainability indices.