Management Strategies
How can your electric co-op or utility develop a well-trained and informed Board of Directors?
Major decisions in an electric cooperative or utility should be implemented by the approval of the Board of Directors (or City Council). The power and utilities industry is complex and may be unfamiliar to newer board members. This raises an important question: How can the board be effective and understand the business well enough to make informed and strategic decisions?
Enterprise Risk Management Strategy - The Lite Program for Your Utility
Just because your utility or electric coop is small or mid-sized does not mean you cannot have a formal enterprise risk management (ERM) “lite” program. An ERM program merely formalizes things you do as a regular part of business and places a robust protocol around mitigating risk and documenting the approach.
Would an “Enterprise Risk Management Lite” approach work in your co-op or utility?
Using an “ERM lite” program is an approach that any organization can use, whether you are a staff of one or twenty. The lite approach has many elements of a more formal program. Here are some insights into the elements that go into a program that can be a unique fit and help you sleep at night by planning for potential events. The lite approach, in many cases, puts a more formal touch on things you are doing already.