28 February 2015

DEWA wins Institute of Risk Management’s ‘Commitment to Learning and Development’ award

Dubai Electricity and Water Authority (DEWA) has won the Commitment to Learning and Development award at the Global Risk Awards 2015, which is managed by The Institute of Risk Management (IRM) in the UK. The award recognises DEWA’s achievements in risk management and identification, and adopting global best practices. DEWA is the first organisation in the Middle East and Africa to win this prestigious award. In competition with 200 entries from companies based in over 20 countries, DEWA was shortlisted in the category for Innovation in Technology for its ERM department’s strategy to implement Integrated Real Time Risk Management using smart devices. This is aligned with Dubai’s focus on both Innovation and SMART government programmes. Waleed Salman, Executive Vice President of Strategy and Business Development at DEWA, received the award on behalf of HE Saeed Mohammed Al Tayer, MD & CEO of DEWA. Winners were announced at a glittering Awards ceremony. Nearly 400 risk leaders from around the world attended the event at the Hilton Park Lane in London on 19 February 2015. Kenneth Mckeown, Manager of Enterprise Risk Management at DEWA, also attended the Awards ceremony. “DEWA applies the best global practices in enterprise risk management and accountability. This supports the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance Dubai’s global competitiveness and keep up with global best practices to develop innovation, technology, leadership, and sustainability. Our efforts support our strategic objectives by taking a proactive approach to risk identification and assessment, identifying priorities, and monitor them across all of DEWA,” said Al Tayer. “Led by our vision to become a sustainable world-class utility, DEWA adopts the global best practices of ISO 31000 certification and the latest integrated management systems for enterprise risk management. These are closely linked to DEWA’s strategic planning. Winning the Commitment to Learning and Development award at the Institute of Risk Management’s Global Risk Awards, which is supervised by renowned international experts, reinforces DEWA’s position as a global leader in implementing effective and modern measures in risk management,” added Al Tayer. “We have achieved outstanding results in service efficiency, reliability, and availability. The results have surpassed even the private sector, with DEWA increasing efficiency of energy generation by 22% between 2006 and 2014, using the latest technologies and adopting technological innovations. DEWA has surpassed leading European and American companies by reducing losses in power transmission and distribution networks to 3.4%, compared to 6-7% in Europe and the USA. Water network losses decreased to 9%, compared to 15% in North America, achieving leading global results in reducing water losses. DEWA’s results are among the best internationally for customer minutes lost per year. DEWA’s figures reached 4.9 minutes in 2014, compared to 15 minutes recorded by leading utilities in the European Union,” added Al Tayer. “Risk management is closely integrated with strategic planning, aimed at minimising risks to ensure the continual success of our strategy and long-term operational plans. By mitigating risks, we prevent them from becoming key obstacles to the achievement of our corporate objectives on the short and long term,” added Al Tayer. “Winning the prestigious award from the Institute of Risk Management, a leading global organisation in setting risk management standards and recognising global best practices, reflects DEWA’s continuous efforts to adopt and use the best global standards to continue our excellence,” said Salman. In 2013, DEWA won the Global Risk Award for Building Risk Management Capability from the IRM.