Picture of Excellence (POE)
The District achieves excellence in managing external risk, minimizing the impact of external threats, and ensuring the continuity of essential services to the customers.
Strategic Initiatives
- Continuously monitor and identify external risks that could impact the District, including regulatory changes, market fluctuations, and natural disasters.
- Maintain strict adherence to industry regulations and standards to mitigate regulatory and legal risks.
- Assess the potential impact and probability of external risks to prioritize them effectively.
- Use scenario planning to simulate potential external risk scenarios and their impact on the District.
- Engage with regulatory bodies and industry associations to influence and adapt to regulatory changes.
- Diversify investments and financial instruments to spread financial risk.
- Develop proactive strategies to mitigate environmental risks, such as climate change impacts, extreme weather events, wildfires, and resource availability.
- Invest in sustainability measures to minimize environmental vulnerabilities.
- Evaluate and diversify supply chain sources to reduce the impact of disruptions caused by external factors, such as geopolitical conflicts or economic downturns.
- Strengthen cybersecurity measures to protect against external threats, including cyberattacks and data breaches.
- Build strong relationships with external stakeholders, including government agencies, regulators, and industry partners, to collaboratively address and manage external risks.
- Engage with local communities and customers to understand their concerns and expectations related to external risk factors.
- Develop comprehensive crisis management plans to respond effectively to external risks, such as natural disasters and cyber incidents.
- Conduct regular drills and exercises to test the District's ability to handle crises.
- Review and update insurance coverage to ensure it adequately protects the utility against external risks.
- Establish key performance indicators (KPIs) related to external risk management and regularly measure and report on them.