Governance and risk
In FY24 Transurban conducted more than 25 exercises to simulate and respond to operational disruption. This included performing field exercises with our emergency services partners to rehearse response protocols and increase familiarity with our road and tunnel infrastructure. Managing and responding to operational risk and disruption
Risk Management Practice Our integrated approach to risk management spans all our operational, business and strategic activities and also links to our climate change, health, safety and environment risk management activities. This approach provides an opportunity to break the barriers and silos between risk management activities and related functions. It also supports the identification of a broad range of potential risks spanning both internal and external factors e.g. social or supply chain risk. This is further achieved by including a variety of business stakeholders in the risk discussions. Once identified, each risk is analysed and evaluated to understanding the potential it has to impact Transurban’s projects, functions, markets, assets, customers and/ or stakeholders if it were to occur. These risk assessments consider the potential Financial, Health and Safety, Environmental, Business Disruption, Legal and Reputation
In October 2023, the NSW Operations team led the delivery of a complex emergency management exercise involving Transurban and NorthConnex operational teams, working closely with Transport for NSW, NSW Police, Fire and Rescue NSW and Ambulance Services NSW, to respond to a scenario in a NorthConnex tunnel. The exercise simulated a multi-vehicle collision, involving a truck, a bus filled with passengers and multiple cars. The ‘incident’ required a comprehensive emergency services response, and safe evacuation of people from the scene. More than one hundred emergency services personnel participated in the exercise, with Transurban and North Western Roads Group volunteers acting as road users in vehicles impacted by
the incident. This included some with simulated injuries − providing a realistic scenario for emergency services as part of their incident response activities. The event also provided emergency services with an opportunity to establish command and control protocols, test critical safety systems and coordinate resources to manage the situation. Continually improving response capability through such exercises is a key component in preparedness – a key part of Transurban’s business resilience framework and activity program. Preparedness is also key to our teams’ ability to respond to incidents quickly and to effectively engaging with emergency services and better support the safety of all road users.
consequences of a risk from both a unmanaged to managed perspective.
The risk assessment then defines the priority of the management response which drives the development of proactive treatment plans to address the likelihood and consequences of each risk and to also identify a way to address the risk should it occur. Ongoing monitoring , reporting and escalation is then undertaken to provide assurance that the risks are being addressed and that appropriate risk treatment plans are in place. Business wide insights To support the leveraging of risk management insights across our business, we ulitise risk intelligence dashboards. These dashboards use integrated compliance, privacy, and resilience data to provide current, data-driven trends, aggregated risk exposures, control effectiveness and scenario analysis – which supports Transurban’s decision making and strategic planning. This approach drives consistent risk communications and understanding at all levels of our business. It also helps promote a culture of transparency, through sharing insights into our key risks and enhancing understanding of risk performance and maturity across our operations and projects. Three lines of defence model Transurban uses the ‘three lines of defence’ model to define different teams’ roles in managing risk across our business. This model provides a structured and systematic approach to identifying, managing, and mitigating risks. It supports Transurban’s resilience, governance and growth and contributes to the value we create for our stakeholders. The three lines of defence we employ are:
Emergency management exercise, NorthConnex, Sydney
80
Made with FlippingBook Digital Publishing Software