Hurricane projects are managed in accordance with this policy and the supporting Value Assurance Process (VAP) to deliver results whilst remaining in compliance with law, accepted industry practice and appropriate regulatory standards.
For the purposes of this policy, ‘project’ is any major business goal, capital project or leadership endorsed activity that is designed to deliver, protect or minimise the risk of erosion of value, carries a defined scope and requires the commitment of business resources to execute.
The execution of projects follows a gated process as described in Hurricane's VAP. The purpose of the Assurance Policy is to:
- Protect Hurricane’s business and those engaged in its work
- Promote a framework of staged ‘checks and balances’ that enhance delivery of the value intended
- Minimise all risks to as low as reasonably practicable and ensure the consistent communication of the risk levels and appropriate control and mitigation activities are managed through a hierarchy of control
- Ensure decision making that results in commitments and expenditures on company business are carried out in a systematic and controlled manner
- Provide effective record keeping of plans, risks, decisions and actions
- Ensure appropriate people and competencies are engaged throughout the life of a project
Application of the VAP is to be adopted as a robust methodology that will meet the Assurance Policy commitments. These commitments form the basis from which internal targets for achievement are monitored, reported and revised.