Our tolerance or appetite for risks is documented in the Group’s guidelines, policies, procedures and instructions. Examples include the General Code of Business Conduct and the Supplier Code of Conduct, safety and quality policies and procedures, vendor selection criteria, project risk classification system, contracting guidelines, authorization limits, treasury policies, management planning and control systems, financial control framework, crisis management plans, information security and access management policies.
During 2017 we have made considerable progress with implementing a new, group-wide quality management system. We refer to this quality management system as the Boskalis Way of Working (WoW). The overriding objective of our WoW-system is to give our staff the best possible support in achieving operational excellence when concluding and executing projects. Operational excellence in this context means achieving compliance with the internal and external control requirements imposed on our primary project process whilst minimizing failure costs. Expectedly, WoW will be fully implemented by the end of 2018.