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Business Plan	F:\Admin Office\Business Plan\Business Plan V1.4.docx

Sustain-Tech Pty Ltd recognises the importance of implementing a Risk Management Policy. This risk management policy is an encompassing policy statement about the role of risk management within Sustain-Tech Pty Ltd and the associated responsibilities of directors, management, employees and contractors.
Risk is defined as the chance of something potentially occurring which would adversely affect and impact a project. Risk management is identifying, evaluating, analysing, treating, monitoring and reviewing the risk.

The risk management framework designed & utilised by Sustain-Tech Pty Ltd internally has been developed in conjunction with AS/NZS ISO 31000:2009 Risk Management – Principles & Guidelines document. Sustain Tech Pty Ltd.’s risk management plan includes specific categories and templates designed to be tailored to suit all projects of differing risk.
It is mandatory that Sustain-Tech Pty Ltd.’s risk management plan be implemented into all projects as a part of the overall business operations framework.
Risk management is a continuous process requiring regular monitoring and analysis of all risks to be conveyed to all employees and contractors, with collective input to assist in eliminating or reducing risk from either internal or external sources.
This policy is a key element of Sustain-Tech Pty Ltd.’s Risk Management Framework, which supports an integrated and systematic approach to managing risk, in order to:
ensure that risks faced by Sustain-Tech Pty Ltd are understood and managed;
promote Sustain-Tech Pty Ltd.’s approach to risk management, including a common risk language;
instil in all staff an awareness of risk and ensure that risk is considered in decision making;
create an environment where all Sustain-Tech Pty Ltd employees and contractors assume responsibility for managing risk;
ensure that risks to Sustain-Tech Pty Ltd are appropriately monitored through documentation and review and that key treatment actions are reported to the Directors on a regular basis; and
ensure transparency in decision-making and ongoing risk management processes.
The overall risk management framework is based around the following risk initiatives:
Risk identification – identifying significant, foreseeable risks associated with the business
Risk evaluation – evaluating risks in terms of impact and likelihood
Risk treatment/mitigation – developing appropriate mitigation to keep the risk within an acceptable level (risk appetite); and
Risk monitoring and reporting – ongoing reporting, usually on an exception basis on the status of the risk in line with whether it remains within the risk appetite.
Risks are identified and evaluated against achievement of strategic objectives, as well as more operational activities.

Contents
1 Introduction
1.1 Purpose of the Risk Management Plan:
1.2 Project Risk Management Responsibility:
1.3 Project Risk Management Strategy Description:
2 Standards
2.1 Standards that Apply AS/NZ ISO 31000:2009 – Risk Management Principles and Guidelines
2.2 Best Practice Compliance
3 Definition & Terms
3.1 Explanations of Definitions
3.2 Definitions Activity
4 Project Risk Management Strategy
4.2 Recognition of Project Risk-Management
Stakeholders Template
Table 1
Table 2
4.3 Project Management Implementation Strategy
4.4 Profession Standards Scheme
4.5 Management & Operational Focus
4.6 Engagement of Practical Methods
4.7 High Level of Compliance
4.8 Company Structure
4.8.1 Company Acceptance of project Risk Management
4.8.2 Common Understanding
4.8.3 Control & Monitoring
4.8.4 Continual Improvement
5 Project Risk Management Appetite & Commitment
5.2 Transparency of Decision
5.3 Responsible corporate citizen
5.4 Commitment to active project risk management
5.5 Adoption of risk level
5.5.1 Continual Improvement
6 Roles & Responsibilities
6.2 Overall Responsibilities
6.2.1 Direct Responsibilities
6.3 Employee & Contractor Responsibilities
7 Project Risk Management Context & Risk Profile
8 Project Risk Management Tools
8.1.1 Process
8.1.2 Project Risk Identification
8.1.3 Project Risk Analysis
8.1.4 Risk Response Planning
8.1.5 Risk Monitoring, Controlling & Reporting
9 Application of Project Risk Management
10 Project Risk Management Knowledge & Skill Development
10.2 Workplace Training
11 Reference to Company’s Supporting Strategies
12 Project Risk Management Tools & Templates
13 Project Risk Management Plan Approval
14 Appendix A: References
15 Appendix B: Key Terms