Integrated risk management
The Sandvik Group applies a comprehensive risk management program, Enterprise Risk Management (ERM). The program covers both business areas and Group functions.
ERM is an integral part of Sandvik's operational and strategic management and assists the company in taking action when it encounters change, whether triggered by internal or external factors.
The main components of risk management are identification, evaluation, treatment, monitoring and reporting. An action plan is established to accept, reduce, eliminate or transfer the risk or leverage the potential opportunities identified. Formal procedures and processes have been established for the reporting, monitoring and control of risks.