SJVN becomes first CPSE to implement ISO 31000:2018 for Risk Management System

FPJ BureauUpdated: Saturday, November 26, 2022, 01:16 AM IST
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Nand Lal Sharma, Chairman & Managing Director, SJVN informed that SJVN is now ISO 31000:2018 Company with successful implementation of Risk Management System. ISO 31000:2018 provides guidelines, framework & process for managing any type of risk in an organization.

Sharing this achievement, Nand Lal Sharma stated that SJVN is first CPSE to achieve this distinction from National Productivity Council after comprehensive audit as per ISO standards. Risk Management System of the company is well integrated with its business processes in corporate office as well as the projects.

Nand Lal Sharma further apprised that SJVN has formulated & implemented Cyber Crisis Management Plans for Cyber risks, Hedging Policy for Financial Management, Crisis & Disaster Management Plans for Floods, Earthquake etc. and Emergency Preparedness Plans for Corporate Office building. Further, Risk Steering Committees have been constituted in all projects, which quarterly review the risk profiles and thereafter the same are further reviewed by Risk Management Committee at Corporate level.

Risk Management System at SJVN includes the exercise of identification, assessment and prioritization of risk in all aspects i.e. Strategic, Operational, Financial, Technological, Business environment, Statutory, Design, Development, Execution of projects, Contractual, Contract Management etc. followed by periodic monitoring to control and minimize the probability and impact of unexpected events.

SJVN has always been a leader in implementing International Management Systems like ISO 9001 for Quality Management Systems, ISO 14001 for Environment Management Systems, ISO 45001 for Occupational Health and Safety Management Systems and ISO 27001 for Information Management Systems.

International Organization for Standardization (ISO) is an independent worldwide Federation of National Standards Bodies which develops and publishes international standards in technical and nontechnical fields.

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