risk management
At GD, we identify, evaluate, and secure development sites with an approach built on diligence, strategy, and risk management. Whether in the early-stage assessment or deep into pre-construction, we ensure no detail goes unverified.
risk is the flip side of opportunity | we anticipate we don't react
mitigation
communication
Mitigation begins and ends with communication.
Establish Clear Communication Channels:
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Define and implement specific, accessible, and well-understood channels for reporting, escalating, and discussing risks (e.g., dedicated meetings, reporting software, clear email protocols).
Regular Risk Reporting and Updates:
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Implement a schedule for consistent and timely communication of identified risks, their status, mitigation efforts, and any changes in risk exposure to all relevant stakeholders.
Foster Open Dialogue and Transparency:
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Encourage an environment where team members feel comfortable openly discussing potential risks, concerns, and lessons learned without fear of reprisal, promoting early identification and collaborative solutions.
Tailor Communication to Audiences:
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Adapt the level of detail, technicality, and frequency of risk communication to suit different stakeholders, ensuring decision-makers receive concise summaries while implementation teams have the necessary specifics.
Document All Risk Communications:
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Maintain comprehensive records of all risk-related discussions, decisions, action items, and follow-ups to ensure accountability, provide an audit trail, and support continuous improvement in risk management processes.
metrics
monitoring
1- 2 sentence narrative for below
Define Key Risk Indicators (KRIs):
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Establish specific, measurable, achievable, relevant, and time-bound (SMART) metrics that act as early warning signals for potential risks or the deterioration of existing risks.
Implement Continuous Monitoring Processes:
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Set up ongoing systems and procedures to regularly collect, analyze, and review data related to identified KRIs and other relevant risk metrics to track risk exposure and mitigation effectiveness in real-time or near real-time.
Establish Thresholds and Alert Systems:
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Define clear acceptable thresholds for KRIs and other metrics; automatically trigger alerts or notifications when these thresholds are breached, ensuring timely attention to escalating risks.
Conduct Regular Performance Reviews of Mitigation Strategies:
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Periodically assess the effectiveness of implemented risk mitigation strategies using defined metrics, comparing actual outcomes against expected results to identify gaps or areas for improvement
Utilize Dashboards and Reporting Tools:
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Employ visual dashboards and standardized reporting mechanisms to present risk monitoring data and metrics clearly and concisely to relevant stakeholders, facilitating informed decision-making and proactive intervention.
curation
compliance
1-2 sentence narrative of below
Curate Stakeholder Relationships: Proactively nurture strong, transparent, and trusting relationships with all internal and external stakeholders, including regulators and legal counsel. This fosters open dialogue, mutual understanding of compliance obligations, and collaborative problem-solving, thereby significantly reducing compliance breaches that stem from miscommunication or a lack of alignment.
Curation of Project Communications: Meticulously manage and document all project-related communications, ensuring that compliance requirements, policy updates, and regulatory changes are clearly disseminated, acknowledged, and recorded. This precise record-keeping provides an auditable trail, demonstrates due diligence, and prevents non-compliance due to misinformation or lack of awareness.
Curation of Timeliness in Actions:
Establish and enforce strict protocols for the timely execution of compliance-related tasks, reporting, and responses to regulatory inquiries or internal audits. Proactive adherence to deadlines and swift resolution of issues demonstrate a commitment to compliance, mitigating the risk of penalties or escalating problems due to delays.
Curation through Active Listening: Implement a culture of active listening within teams and with external parties, meticulously capturing and acting upon feedback, concerns, and subtle signals related to potential compliance risks or emerging regulatory requirements. This proactive intake of information enables early identification of non-compliance vulnerabilities and swift corrective action.
Curation through Continuing Team Education: Systematically invest in ongoing, relevant education and training for all team members on evolving compliance standards, internal policies, and best practices. Continuously updating knowledge and skills ensures that the entire team understands their roles in maintaining compliance and proactively mitigating risks through informed actions.