I6: Risk Management
Risks are managed within acceptable bounds. Other Information:
BPA’s ability to deliver public benefits depends on its continued commercial success. Effective risk management is a vital
ingredient to this success. While BPA has always faced significant risks such as hydro supply variability, BPA today faces
an increasingly complex array of risks. These include: • strategic risks related to BPA’s ability to deliver on future business
plans, strategies and on its mission and vision (e.g., workforce skill gaps); • operational risks resulting from inadequate
or failed internal systems and processes, facilities performance, and personal performance (e.g., extended loss of Columbia
Generating Station); • legal/regulatory risks arising from new and existing regulations and court rulings (e.g., environmental
compliance regulations); and • hazard risks from situations that have an adverse effect on overall business operations (e.g.,
disruption of critical functions from a natural disaster). Assuring commercial success in the face of these risks requires
sophisticated risk management. BPA will strengthen its risk management governance, policies and practices. We will increasingly
employ a coordinated, systematic, integrated, documented and repeatable risk management framework to effectively and efficiently
manage risks to achieving our strategic objectives. In doing this, BPA will clarify its tolerance for risks and will work
to minimize the cost of managing risk within that tolerance.
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