Risk management and practical application at Eramet Norway.

Abstract

This master’s thesis has evaluated how Eramet Norway’s risk management system works both in procedures and guidelines and how it has been implemented in two previous projects. We would receive documents from Eramet’s corporate offices, that then must be implemented in their risk management framework in Norway. The purpose of this thesis has therefore been to observe whether there is a connection in their risk management all the way from the head office in Paris and down to the project execution at one of the plants in Norway. Additionally, it has been a goal to make improvement suggestions based on the knowledge from this study, to continue working on their risk management implementation. To test this out, I have actively contributed to an ongoing project in the spring of 2022. This thesis contains an introductory first chapter, a chapter two explaining the basic theory of risk management which will lay the foundations to make improvements later. In chapter three I will present their current risk management plan, and a comparison and evaluation summary of it is presented in chapter four together with an evaluation. Finally, chapter five will provide more specific guidelines on how to improve their risk management for the future. After studying Eramet's risk management framework, it is clear that it is an important topic for the company with a huge impact throughout the organization, but there are still some specific areas open for improvement. There is no direct correspondence between the risk management framework in Eramet Group and Eramet Norway and the fundamental principles and given guidelines vary. Furthermore, there are few risk analyses tools available apart from Take5, safe job analysis and work permits, which is reflected in the fact that there is a high number of different risk templates that are used in the projects. Eramet Norway will therefore improve their risk management strategy by revising the basic principles together with Eramet Group, align their procedures and establish a number of risk analysis tools that are easily accessible to all employees, and especially in project management.