The Institute of Risk Management (IRM) has shortlisted the Dubai Electricity and Water Authority (DEWA) in the ‘Delivering value through risk management’ and ‘Building risk management capability’ categories of its ‘Global Risk Awards 2013.’ Being short-listed for the awards underline DEWA’s achievements in successfully implementing effective frameworks for identifying, assessing and managing key risks, and adopting best international practices in line with the guidelines of ISO 31000.
DEWA has been nominated alongside leading international entities, and has been short-listed from several high-profile organizations representing the governmental and private sectors around the world. The Authority is the first organisation in the Middle East and Africa to be short-listed for the Awards.
“Led by our vision to become a sustainable world-class utility, and in line with the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to further improve the competiveness of governmental departments and promote Dubai as a global hub for trade, finance and tourism, DEWA effectively contributes to the social, economic and environmental development in Dubai by providing uninterrupted and stable electricity and water services to achieve the vision of Dubai,” said HE Saeed Mohammed Al Tayer, MD and CEO of DEWA.
“Being short-listed at the Global Risk Awards 2013 reflects the efficiency of DEWA’s management and operations, and assures our success in implementing the highest standards and best international practices in the field of risk management. We continually identify, assess and manage key risks that could affect our business. Besides, we are committed to invest in risk management strategies as an essential element in our overall operations to provide electricity and water services at the highest levels of efficiency ,reliability and safety,” added Al Tayer.
“Risk management is closely integrated with strategic planning, aimed at minimising risks to ensure the continual success of our strategy and long-term operational plans. Further, mitigating risks prevents them from becoming key obstacles to the achievement of our corporate objectives on the short and long run,” concluded Al Tayer.
“DEWA implements an Enterprise Risk Management (ERM) framework to minimise potential emergencies and make decisions based on the results of risk management studies to prevent any challenges that might affect our strategic objectives. We provide all possible support to adopting an integrated framework for risk management,” said Waleed Salman, Executive Vice President of Strategy and Business Development in DEWA.
Recently, the Strategy and Business Development Division in DEWA signed a Memorandum of Understanding with the IRM to benefit from the training courses provided by the Institute. DEWA also works closely with the IRM to offer vital education and research opportunities across all sectors.