Risk management

Risk and opportunity

Risk management is systematically and thoroughly considered at all levels of the Georg Fischer Corporation. The relevant responsibilities, principles, risk strategies, tools and risk classifications are defined in the Organization and Business Rules and a related group directive. Causes, effects and defined measures are periodically analysed and evaluated.

The risk management at GF Machining Solutions gives management the security required to deal with risks and opportunities. Risk management is integrated into existing planning and management processes, giving the company a better chance of attaining its goals and thus increasing its enterprise value.

Risk assessment under the Highly Protected Risks (HPR) concept

The HPR concept was developed in the USA over 100 years ago. It focuses heavily on removing operational weak points that could result in a business interruption.

The HPR standard is based on the following ten principles

  • Active interest in loss prevention on the part of company directors
  • Operational order and cleanliness
  • Targeted use of automatic sprinklers
  • Adequate and reliable water supply
  • Efficient organization of internal emergency response measures and local fire brigade
  • Regular security patrols by staff
  • Adequate maintenance of buildings and operating equipment
  • Use of customized building construction
  • Protection for specific danger zones
  • Safeguards against endangering the surrounding area

About GF Machining Solutions