Hydro One’s strategy Essay

1.What is Hydro Ones Strategy? Hydro Ones strategy is to biennially interview all aspects of the company and evaluate what the biggest risks are to the company. They will rank those risks, and then develop ship canal to mitigate those risks. Those solutions will be evaluated on the amount of risk reduction per dollar. The most successful and high-octane will be implemented for that year. The summary is handed to the Risk Department for finalization. 2.Why are they spending on the Bruce-Milton/Toronto line and the Smart Meters? They are spending on the Line and Smart Meters to increase customer satisfaction, asseverate energy and resources, and to increase capacity to answer demand.3.Putting yourself in the shoes of CEO Laura Formusa, what risks does Hydro One face? Risks face are rising costs, lack of employees, uncertainty in government (upcoming election), safety issues, equipment failures, environment issues 4.Consider the elements of Hydro Ones ERM process. What are its streng ths and weaknesses? Strengths full connotement of every aspect of the business, large numbers are able to substantiate things that others might not, highly scrutinizing of options to mitigate, efficient Weaknesses Risk experts are not fully snarled until risks have been realised by others, options for mitigation not used may be the important ones, only management is involved (what about some lower level workers seeing issues?)5.Should private sector companies embrace ERM in a way similar to Hydro Ones approach? I dont think it would hurt. Its full enterprise brainstorming. Some people may think of things risk experts maybe didnt see. If it helps have money, increase customer satisfaction, and mitigates risk- it is probably worth it. 6.What recommendations would you make to CEO Laura Formusa about the ERM process? I would involve more little people. They may see something that the managers dont. Get the Risk people involved earliest to help establish options faster.