On 15 August 2017 Sean participated in IBR’s Unit Pricing Forum in Melbourne.
Sean presented on “The Profile of Unit Pricing within an Entity – Risk Awareness & risk Management”.
Sean stated categorically that Unit Pricing is a risky business! On the profile of unit pricing, any organisation calculating or using unit prices, wants the public profile of unit pricing to be very low, but paradoxically needs the profile within the entity to be extremely high, so that Directors, management and staff are fully aware of the risks and have the incentive and resources to manage and mitigate those risks comprehensively.
In the presentation, Sean explored:
- Whether the risks are genuinely understood?
- Is an enterprise-wide risk register appropriate?
- How to raise awareness of risk?
This was followed by a deep dive into unit pricing Operation Risks for each of People, Systems and Processes, as well as consideration of Financial, Strategic, Reputation and Legal & Regulatory risks. This listed the major risks in each category and how to prevent or mitigate them. Download the Presentation (524kb)
Sean also sat on 2 panels which discussed:
- The need for daily unit pricing
- The critical role of the unit pricing services of the Administrator / Custodian