Page 29 - TCE Annual Report 2024-2025

Overview Leadership Messages Governance Strategic Insights Business Review People & Community

Risk Management Organisation As TCE continues to grow and diversify across
The risk function is led by the Chief Risk Officer sectors such as infrastructure, oil and gas, metals
(CRO), under the guidance of the Managing Director, and mining, power, and digital services, the business
Chief Operating Officer, and the Board. The CRO is is increasingly exposed to evolving risks driven by
supported by a Corporate Risk team and Business changing government policies, rapid technological
Unit Risk Officers (BUROs) across the organisation. This advancements, and pressing climate related imperatives.
collaborative structure ensures consistent deployment Resilience planning has therefore become a strategic
of risk frameworks and facilitates alignment of risk priority. It is no longer viewed merely as a compliance
management practices across Business Units. These requirement but rather as a proactive approach to
procedures also extend to functional and organisational ensure long-term business continuity and value
levels, ensuring that risks are assessed not only at the creation. Building resilience involves the development
of adaptive systems, flexible delivery models, diversified
project level but across Business Units and supporting supply chains, and agile governance structures that
functions. The organisation’s Risk Management enable the organisation to respond effectively to
Framework is structured to provide a comprehensive, sudden shocks and long-term disruptions. By integrating
proactive and integrated approach to risk identification, risk management into all strategic and operational
analysis, mitigation and monitoring throughout the decision-making processes, TCE aims to strengthen
company’s operations. its ability to anticipate emerging threats, respond to
challenges swiftly, and protect stakeholder interests. This
Risk Outlook and Resilience Planning approach not only helps ensure continuity of service but
TCE operates on a global scale and faces a broad also positions the company to take advantage of new
spectrum of risks across its business landscape. In opportunities in an ever-changing global landscape.
the current environment marked by uncertainty and The key areas of risk and corresponding mitigation
global disruption, the risk outlook for engineering strategies have been outlined in the table below. These
consultancies has expanded significantly. It now provide a comprehensive view of the risk landscape and
includes not only traditional project and operational the structured approach TCE has adopted to manage
risks but also encompasses geopolitical instability, and reduce the impact of such risks across its operations.
regulatory uncertainty, cyber security threats, and
challenges related to environmental, social, and
governance (ESG) factors.

Risk Categories and Mitigation Strategies

Risk Key Risk Areas Areas Impacted Mitigation Strategies
Category
• Demand for the company’s • Ability to secure new • TCE operates across multiple
services is mainly based on capital business and achieve Business Units, which reduces
expenditure. revenue targets. reliance on any one sector.

• Economic downturns, reduced • Cash flow from • Conduct thorough due diligence
ongoing projects
to ensure project feasibility and
public or private investment, and
Economic Risk political and economic uncertainty may be impacted funding.
due to delays or cost
may impact sectors in which
increases.
clients operate.
• Rising inflation, geopolitical
tensions, tariffs, supply chain
disruptions, and energy price hikes
may affect project feasibility or
timely payments.

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