Lend Lease | Quality Systems Detail
Quality Systems
Detail
Contents
- How Do We Assess and Manage Risk?
- Role of the Executive Management Team
- Role of the Risk Management and Audit Committee
- Corporate Risk Team
- Other Corporate Service Functions
- Role of the Business Units
We recognise that our aspiration to be a sustainable organisation will be short-lived if we do not have the checks and balances in place to ensure we are genuinely meeting our performance targets. The principles of quality management guide our decision makers in their strategic management of our practices; calibrate our risk review and assessment processes; and underwrite the organisation's good governance.
Lend Lease Business Units operate Quality Management Systems to recoginised international standards while others hold certification to the International Standard ISO 9001:2000 Quality Management Systems.
The integrity of the system in meeting the requirements of ISO 9001:2000 is recorded in a matrix or roadmap format in the document ISO 9001 Quality Management System, and our National and Regional Management Systems Managers, supported by the Knowledge Manager, are responsible for ensuring that the Quality Systems addresses management objectives of the business and meets the requirements of ISO 9001.
The Quality System is delivered online via the "iknow" knowledge-base platform, which is the Lend Lease Quality Manual for the Company.
Our quality assurance systems ensure we are keeping ahead of our obligations at every level of the organisation and across our operations — from ensuring the safety of our workers on project sites to the well-being and safety of shoppers in our retail centres.
How do we assess and manage risk?
Risk management lies at the heart of the development, implementation and management of sustainable practices across our organisation. It informs our decisions from the early stages of our business development and project pipeline through to the operational phases of our assets and the places we create.
Lend Lease's approach to risk management is guided by the Australian/New Zealand Standard on Risk Management, AS/NZS4360 and the COSO Enterprise Risk Management framework which we continue to refine, strengthen and develop within our organisation.
View a copy of the Group's Risk Management Policy Statement by clicking here: Group's Risk Management Policy Statement
Role of the Executive Management Team
Our Executive Management Team is responsible for developing and executing Lend Lease's strategy, taking into account the risk profile and risk exposure of Lend Lease's Business Units. The Executive Management Team also reviews major risks and contributes to mitigation plans.
Role of the Risk Management and Audit Committee
The Risk Management and Audit Committee (RMAC) of the Board meets quarterly, and the Chair meets with the CEO and/or Global Head of Risk and Insurance on an as-needs basis.
The Risk Management and Audit Committee responsibilities include:
- Reviewing the risk profile of Lend Lease as a whole, and of individual businesses
- Reviewing the Enterprise Risk Management procedures put in place by the Corporate Risk function and overseeing material risk issues and mitigation strategies
View a copy of The Risk Management and Audit Committee Charter by clicking here: Risk Management and Audit Committee Charter
Corporate Risk Team
The Corporate Risk function, led by the Global Head of Risk and Insurance, coordinates the Enterprise Risk Matrix across Lend Lease lines of business.
Responsibilities include:
- Assisting management in embedding the Enterprise Risk Matrix
- Maintaining a central repository of information on all business risks and effective early-warning reporting systems at business and Corporation levels
- Providing a portfolio view of risk at Lend Lease (by aggregating the views of businesses)
- Supporting the businesses as they develop their own perspectives on their business risks
- Where there are synergies, coordinating Lend Lease's use of different tools (such as central management of the global insurance program) to mitigate risk
Other Corporate Service Functions
Group-wide functions such as IT, Finance and Sustainability Environment (future) follow the same principles of risk management as the Lend
Lease Group businesses.
The responsibilities of these functions include:
- Identifying significant risks which are not the responsibility of the Business Units
- Ensuring appropriate mitigation strategies are in place for these risks, and providing feedback that these strategies are effective; reporting on residual and exceptional risks through the online “Business Risk Matrix”
- Reviewing all proposals entering the Lend Lease Investment Pipeline to ensure relevant risks within group-wide functions have been identified, assessed and managed in accordance with our Risk Filters
The Corporate role of managing, reporting and maintaining global operational management systems, such as the Environment, Health and Safety Management System, must also comply with our Risk Management System.
Role of the Business Units
Business Units are responsible for embedding robust frameworks to manage operational and strategic risks, including by:
- Setting Business Unit strategy, taking into account an Enterprise Value at Risk perspective
- Developing a view of Business Unit risk based on the value drivers underpinning the business and location, including assessing the major uncertainties around those value drivers
- Evaluating the risk embedded within major investment proposals via Investment Filters and Go/No-Go Gates
- Managing operational risk—both directly and by ensuring appropriate policies and procedures are in place, such as Risk and Opportunity at Design; reporting Business Unit risk profile to the Executive Management Team, the Global Head of Risk and Insurance, and the Board, using Lend Lease's online Business Risk Matrix reporting tool
All our Business Units also operate an integrated Environment Health and Safety Management System that ensures audits, inspections and management reviews are routinely completed to ensure environmental performance.
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