Bpe deploys strategy to mitigate unsuspecting risks in 2020 fiscal year

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BPE Deploys Strategy to Mitigate Unsuspecting Risks in 2020 Fiscal Year

The Bureau of Public Enterprises (BPE) has deployed a robust strategy to mitigate unsuspecting risks in the 2020 fiscal year, as part of its efforts to ensure the successful implementation of its privatization and reform agenda.

In a statement, the BPE said that the strategy is designed to identify, assess, and mitigate potential risks that could impact the success of its privatization and reform initiatives. The strategy is also aimed at ensuring that the agency's operations are carried out in a transparent, accountable, and efficient manner.

According to the BPE, the strategy is built around three key pillars: risk identification, risk assessment, and risk mitigation. Under the risk identification pillar, the agency has identified potential risks that could impact its operations, including regulatory risks, market risks, and operational risks.

Under the risk assessment pillar, the BPE has assessed the likelihood and potential impact of each identified risk, and has developed a risk matrix to prioritize the risks based on their level of severity. The agency has also developed a risk mitigation plan to address each identified risk, which includes measures such as developing contingency plans, improving communication with stakeholders, and enhancing its risk management framework.

The BPE has also established a risk management committee, which is responsible for overseeing the implementation of the risk mitigation plan and ensuring that the agency's operations are carried out in a risk-aware manner.

In addition, the agency has also developed a culture of risk awareness and accountability, which encourages employees to identify and report potential risks, and to take ownership of risk management.

The BPE's strategy to mitigate unsuspecting risks in the 2020 fiscal year is expected to enhance the agency's ability to deliver on its mandate, and to ensure the successful implementation of its privatization and reform agenda.

Key Highlights of the Strategy:

Conclusion:

The BPE's strategy to mitigate unsuspecting risks in the 2020 fiscal year is a critical step towards ensuring the successful implementation of its privatization and reform agenda. The strategy is designed to identify, assess, and mitigate potential risks that could impact the agency's operations, and to ensure that its employees are equipped to manage risks in a proactive and responsible manner.