CH. 3 Corporate Governance
43
Risk management
3.3
CTCI Corporation is very focused on risk
management, and has introduced a risk
management mechanism in 2006 as well
as formulated "Risk Management Executive
Committee" and established 'Risk Management
Regulation' to actually regulate the risk
management procedures in each department and
each project.
CTCI's primary businesses come from design,
procurement, construction, and Commissioning
Projects. The Company conducts these operations
in matrix organization, and the departments would
be in charge of manpower scheduling, training, and
supporting functions while the project teams would
execute each project. Hence, risk management is
also separated into 2 main scopes: departmental
risks and project risks.
In terms of project risks, based on the
importance of the project, we would hold project
review meetings either weekly, monthly, or
quarterly, and report the implementation status to
departments and the top management, understand
where the risks lie in a project, and seek for
support from departments or from the Company.
The Executive Management Office also routinely
collects information pertaining to the project risks,
and quantifies risks in terms of dollar amount to
control and to continue to track for improvements in
order to lower these risks.
Departmental risks are handled according to the
Risk Management regulation - risks are collected
through risks identification, and evaluation of
severity and probability to get the risk rating, and
the risks will be monitored for improvement for
better control.
Board Meeting
Chairman
President
Auditing
Dept.
HSE Management
Review Meeting
Information Security
Promotion Committee
Quality Management
Review Meeting
Risk of Division/
Department
Proposal Meeting /
Project Review Meeting
Risk of HSE
Risk of
Information Security
Risk of Quality
Management
Risk of Project
Risk Management
Executive Committee
