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Risk management

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Risk management

POSCO PLANTEC has established an intergrated risk management process that covers from the beginning of a project to the closing of a project.

Risk management process POSCO PLANTEC is operating is divided into the bidding for a contract stage and the execution of a project stage. The company manages the various risks which might occur in all stages form the winning a contract to the executing the project by analyzing the risk factors and preparing for the uncertainties.
Risk Management Process

Risk management at the Winning a contract stage

To identify the risks and plan the risk responses early at the bidding for a contract stage, the company operates 4 step risk management process, i.e. Meeting for analyzing the feasibility of the project, Meeting for the risk analysis of the project, Council for winning a contract and Meeting for analyzing the terms and condition before signing the contract.

Risk management at the stage of progressc

POSCO PLANTEC runs the Early Warning System in order to manage risks of a project in progress. POSCO PLANTEC manages a risk responsive system designed to identify, evaluate, and give feedback on risks until the completion of a project and to monitor, track, and manage risks until they are solved.