Risk management is a system that
includes risk assessment and analysis, risk mitigation and risk
financing. The practice of risk management leads to better-informed
decisions about risk acceptance, tolerance, avoidance and accountability.
With that in mind, Agilent continues to use a largely decentralized
approach to risk management. This acknowledges risk management
expertise
within many functions and the integration of risk management practice
throughout Agilent.
One department, Agilent Global Risk Management (AGRM), is responsible
for developing and implementing risk financing strategies for the
company's exposures. In addition, much effort is focused on promoting
the practice of risk management, with a consultation emphasis on
risk mitigation strategies.
AGRM manages a number of global programs that are implemented with
the help of third-party consultants and internal partnerships around
the globe. These include:
- Business Continuity Planning
- Contracts Risk Management
- Incident Response
- Merger and Acquisition Due Diligence.
The EHS program has helped support Business Continuity Planning
this year by creating objectives and targets for Emergency Preparedness
and Response. For example, disaster recovery plans at 20 critical
manufacturing sites were analyzed for their ability to effectively
meet current operational needs. |
