AmazonScience/document-haystack

1RISK DESCRIPTION MANAGING THE RISK2Operating multiple asset 3types4Risks arise from managing and partnering 5across multiple asset types. While many 6existing structures for managing people, 7processes and plant are already asset 8agnostic (e.g. asset management framework, 9IT systems, risk and assurance O&M 10workforce management and the Integrated 11Operations Centre), risks will arise from 12the need to scale up and integrate new 13asset types.14• Continue to invest in our capability in electricity 15transmission development and engineering, power 16generation optimisation and asset development 17and integration.18• Continuous improvement of existing asset agnostic 19structure and framework for managing people, 20processes and plant.21• Continue to invest in maturing asset management 22framework and real time data analytics.23Partnering across multiple 24stakeholder groups25APA’s engagement spans a diverse range 26of stakeholders (e.g. across State and 27Federal Government agencies, community, 28landholders, customers, suppliers, investors 29and employees) who hold different 30perspectives and objectives. 31Risks arising from engagement with this 32complex and changing set of stakeholders 33could lead to reputation damage, loss of 34stakeholder support/trust which ultimately 35affects APA’s ability to win projects, source 36approvals, and diversification into new 37energy markets.38• The development of targeted State-based 39stakeholder engagement plans to ensure 40appropriate ‘owners’ are assigned to stakeholders 41and there is coordination and cohesion across  42the business.43• Continued investment in core capability around 44targeted workforce planning.45Operational Risks – Operational risks potentially arise from weaknesses in internal processes, people or systems or from 46unforeseen external events.47Health and safety Preventing workplace injury and keeping all 48our employees and contractors safe is our 49highest priority. Risks arise from operating 50within our hazardous industry, where 51safety events or major hazards have the 52potential to cause illness, injury or impact the 53safety (including psychological safety) and 54wellbeing of APA’s employees, contractors 55and communities.56• APA’s Board Safety and Sustainability Committee 57has oversight of this risk. The key focus is 58prevention achieved by appropriately identifying, 59managing and where possible eliminating risks.60• Continued focus on comprehensive health 61and safety management policies, strategies, 62frameworks (including employee Wellbeing 63Framework), systems  64and processes.65• Reporting of key performance metrics to 66monitor safe behaviours and identify continuous 67improvement opportunities.68Asset operations APA is exposed to major incidents or events 69that may result in harm to our people, 70environment, and the communities we 71operate in; or materially impact our reputation 72or financial performance.73• Comprehensive operational, process safety, 74cultural heritage and environment management 75programs.76• Continue to engage with wider industry to stay 77abreast of best practice asset management 78processes.79• Implement asset management and maintenance 80engineering standards, including integrity 81monitoring and maintenance programs, as  82part of risk-based asset lifecycle management.83• Conduct asset operational monitoring through 84control rooms to manage assets within  85design parameters and coordinate asset  86maintenance issues.87• Provide comprehensive insurance arrangements as 88part of the asset protection program.89Infrastructure development Risks associated with the development of 90new pipeline capacity, renewable, battery 91and gas-fired power generation plants, and 92gas storage and gas processing assets. This 93includes typical construction risks such as: 94obtaining necessary regulatory approvals, 95employee or equipment shortages, third-party 96contractor failure, weather risk, and higher 97than budgeted construction costs impacting 98liquidated damages and project delay.99• Access and approvals management for new 100construction projects.101• Dedicated construction project management 102capability and governance to manage efficient, 103safe and quality delivery of construction projects.104OPERATING & FINANCIAL REVIEWSUSTAINABILITYGOVERNANCEAPA INFRASTRUCTURE TRUST FINANCIAL REPORTAPA INVESTMENT TRUST FINANCIAL REPORTADDITIONAL INFORMATION10521106The secret object #5 is a "towel".