Project guidelines and program approvals provide standard techniques to analyze and develop viable projects and communicate value and risks effectively. They are intended to work in concert with specific functional and management processes to deliver projects that consistently outperform industry average.
The Capital Project Management System applies to all Projects and Supply Chain aspects throughout the phases of any project and is a foundational element of how we execute projects that are safe, transparent, predictable and competitive. Within the system there is a guideline for using the Sustainable Development Scorecard and there are requirements for risk assessments for climate change, water, and biodiversity, as well as the social performance plans. for projects that require approval by our board of directors. Such projects are not funded until these have been completed.
Our teams use a simple but thorough method of assessing whether potential risks and uncertainties have been fully addressed and resolved via the Sustainable Development Scorecard. (PDF) All project teams are encouraged to use the scorecard., We are now considering an updated Sustainable Development Scorecard desktop risk assessment tool for broader use.