PACT Magazine
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RISK & REDUCTION<br />
As part of our managerial responsibilities, the Pact team have treated risk<br />
assessment as a highly important task. Within a business of this nature, risk is<br />
considered to exist in many areas, and where it is considered to be both necessary<br />
and practical, the risk will be factored into operating decisions.<br />
Pact has been designed in a way that can easily translate to manufacturing, but at<br />
this point is still at a prototype stage. As a result of this, there may be challenges<br />
and speed bumps that can potentially arise between now and product launch. These<br />
can potentially slow down progress but we are confident in our team and our ability<br />
to think around and over these barriers.<br />
General Risks<br />
The general risks that have been outlined may include but are<br />
not limited to product certification, tooling, manufacturing,<br />
distribution, component production and parts sourcing. We are<br />
not naive to these risks and leading up to manufacturing we<br />
are developing an in depth risk analysis and management plan.<br />
Issues that may arise have been broken down into the likelihood<br />
of them occurring (probability) and then the consequences of it<br />
happening (impact). By using this tool we are able to assess the<br />
risks as accurately as possible, evaluate them and appropriately<br />
manage them. We commit to being completely transparent<br />
with any issues we may face along the way, so that both our<br />
customers and investors can keep up to date with our progress.<br />
Environmental Risk<br />
At all times throughout growth, development and operations,<br />
Pact will adhere to the laws in both a legal and an ethical<br />
sense in regards to sustainable development. The team have<br />
developed and continue to develop the business and their<br />
manufacturing in accordance to international standards ISO<br />
14001 - Environmental Management Systems. This has helped<br />
map out a framework to monitor and implement an effective<br />
environmental management system so that the company may<br />
not fall behind present international standards in respect to<br />
green credentials.<br />
Investment Risk<br />
Pact stands to soon embark on a significant and somewhat<br />
aggressive growth phase, and due to this, the business is<br />
not without risk. But with the appropriate risk analysis and<br />
management plans, the team are confident that it will be both<br />
adequately monitored and managed.<br />
29 <strong>PACT</strong>
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