SJVN becomes 1st PSU to implement ISO 31000:2018 for Risk Management System

New Delhi: Green energy PSU, SJVN Limited is now an "ISO 31000:2018 company" with the successful implementation of "Risk Management System." ISO 31000:2018 provides guidelines, framework & process for managing any type of risk in an organisation. This information has been shared by the SJVN CMD NL Sharma on Friday.

Sharing this achievement, Sharma stated that SJVN is the 1st PSU to achieve this distinction from National Productivity Council after a comprehensive audit as per ISO standards. The Risk Management System of the company is well integrated with its business processes in the corporate office as well as the projects.

Sharma further apprised that SJVN has formulated and implemented cyber crisis management plans for cyber risks, hedging policy for financial management, crisis & disaster management plans for floods, earthquakes etc. and emergency preparedness plans for the 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 the risk management committee at the corporate level.

The 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 non-technical fields.

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