Risk Management

Risk management is about identifying, assessing and prioritizing risks within the business. Guiding measures can then be taken to minimize the likelihood and consequences of the incident.

Risk management is a central and essential part of NCC's business management. It is a live issue and a constant presence in companies, functions and units across the Group. Measures for risk management are built into the internal processes of the managers and the units, with working procedures and guidelines often designed specifically around the minimizing of risk.

In using and following our systems, we work actively on risk management in a manner that has been drawn up by experts in each area. This also means that many "everyday" activities that occur routinely in our construction projects form an important part of our overall risk management.

Examples of key elements in overall risk management:

  • Start-up meetings, internal controls and inspection plans
  • Scheduling, job planning, safety rounds and environmental plans
  • Risk and Opportunity (R&O) analysis

In our construction projects, the most important tool for systematic risk management is the R&O analysis. It begins at the sales stage and is constantly updated throughout the construction process. The aim is to achieve a safe and predictable construction process, where the project is conducted within set parameters. The R&O analysis is designed in line with ISO 31 000 (Risk management – Principles and guidelines).

The purpose of the R&O analysis is to take the unique circumstances of each project and systematically identify, analyze and deal with the risks and opportunities. Taking suitable action minimizes the likelihood and consequences of risks and maximizes the likelihood and consequences of opportunities.

The R&O analysis helps us to make considered choices, set priorities and assess the different courses of action available. By applying a systematic approach to the working process, we create an understanding of the risks and opportunities, enabling us to implement successive changes and learn from previous events.