Dubai Electricity and Water Authority (DEWA) collaborates with BSI to launch the first enterprise risk and resilience guide for utilities organizations.
BSI, the business improvement company, publishes PAS 60518:2020 Developing and implementing enterprise risk and resilience management (ERRM) in utilities – Guide. It is the first guide to help utility organizations implement enterprise risk and resilience management (ERRM).
The new fast-tracked standardization document, known as a Publicly Available Specification (PAS), builds on traditional enterprise risk management (ERM) by prioritizing resilience. It considers a shift in organization management from reactive recovery to proactive resilience thinking.
The standard encapsulates relevant risk-and resilience-related guidance and their application using specific industry terminology and examples. It also shares guidance on developing and implementing ERRM and supporting business continuity and incident management plans in order to improve the organization’s resilience to help them withstand unexpected future shocks and extreme events. It outlines approaches to risk and resilience reporting to communicate the organization’s position in respect of ERRM.
Howard Kerr, Chief Executive at BSI said: “Organizational Resilience reaches beyond risk management towards a more holistic view of business health and success. A resilient organization is one that not merely survives over the long term, but also flourishes – passing the test of time. We are pleased to work with DEWA to create the first standard to support the utilities sector on its journey to being more resilient.”
His Excellency Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of DEWA, said: “Utilities must continually develop their proactive risk management to increase their resilience and ability to grow and thrive in all circumstances. The recent rapid developments the world has seen because of the COVID-19 pandemic, show how important it is to have started early in developing the PAS 60518. I thank BSI, DEWA’s Risk and Resilience team and the global utilities that collaborated with us for their hard work in developing this pioneering standard, which will be a revolutionary global reference for utilities, and a key enabler for advancing risk management and resilience.”
It is for use by electricity, gas, water and wastewater utilities organizations of all sizes in public and private sectors. It has been produced by a steering group* made-up of global organizations from across the sector.
You can purchase your copy of PAS 60518 Developing and implementing enterprise risk and resilience (ERRM) in utilities – Guide here.
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Notes to the editor:
*Steering group:
• Dubai Electricity and Water Authority (DEWA)
• Électricité de France (EDF)
• National Grid
• Rheinisch-Westfälisches Elektrizitätswerk AG (RWE)
• RightStone Consulting
• United Utilities
• Watercare Services Limited New Zealand
Learn more about PAS 60518:2020
