Risk management | Contents
Change in threat within FY25
Threat
Trend
Example management responses
Potential impacts of economic environment
Reflects global economic uncertainties and challenges, and highlights implications of economic conditions on social licence.
• Ongoing review of external economic trends and performance • Early identification of pressure points and action if changes identified. Responses include: – Review of cost base – Stress testing and scenario analysis – Implement early changes to spend plans – Ongoing approach to financing activities – Targeted budget management • Linkt Assist and Linkt Assist 360 customer hardship programs • Proactively and transparently communicate fees and charges including fee- free options • Development of tools (e.g. Trip Compare) and campaigns to help customers make informed choices • Implementation of social licence program and proactive engagement with government and community groups • Continuous listening through Edelman Trust Index and Voice of Customer research programs to identify issues and trends • Implementation and operation of a Cyber Security Framework aligned to industry standards to protect against cyber-attacks and disruption • Review and management of cyber risks and threats, and provided regular reporting on key cyber risks and cyber control metrics to executive and management • Ongoing cyber program in order to maintain security posture within risk appetite over time supported by training and awareness campaigns • Data assurance and privacy programs • Review of vital business critical processes and business continuity activities • Exercising and scenario analysis • Supplier and Contractor Management Framework outlines requirements for regular audits, inspections and quality assurance assessments of contractors and sub-contractors • Asset reviews and Internal Audit Program • Whole of concession asset lifecycle management and development of multi-year program of works • Continued development and testing of climate change adaptation plans • Ongoing monitoring that the condition assessment program on civil works is effectively implemented - Australia and North America • Resilience measures in place: – Scenario based response training – Scenario analysis of future weather events and/or changes in the operating environment on system/asset reliability and asset lifecycle planning – Business Continuity Plan, and Incident Management and Emergency Strategy Teams in place – Annual desktop exercises and field exercises with emergency services to coordinate response – Annual update and review of all corporate emergency procedures
Uncertainties associated with the economic environment and cost of living pressures could impact on business and customer confidence, thereby reducing economic activity. These cost of living pressures could also lead to increased concerns around fees and tolling. These factors could lead to reduced revenue and impacts on Transurban’s social licence to operate.
Cyber security and information protection Failure to appropriately
Increase reflects the impact of the global geopolitical environment.
manage, govern and protect customer and company data and systems from cyber threats could result in data loss, customer harm and operational disruption. Operational disruption – failure of infrastructure or an inability to respond effectively to a disruption Failure to adequately maintain our infrastructure or respond adequately to an emerging incident or disruption, including significant weather events could impact on asset operations causing disruption and lead to breaches in concession, potential safety risks and/or reputational damage.
Resilience program and exercising across all levels of the organisation. Proactive Asset Management.
Operating model transition Failure to effectively manage operating model changes could impact on business performance and market confidence.
Operating model effectively implemented focus now on realisation of associated operating efficiencies.
• Transition plan development and implementation • CEO and Board engagement • Operating model project management team
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