Ethics and Risk Management
Stellar Construction maintains high ethical standards, follows the principles of civilized business, demonstrates a commitment to high standards of honesty, integrity and transparency of business.
The Company proclaims for itself and its employees the most important principles and values of conducting an honest and ethical business, and strives in its business activities to strictly observe them, namely:
- Responsibility in front of employees;
- Responsibility in front of partners;
- Overall business responsibility;
- Responsibility of employees in front of the Company;
- Responsibility in front of the community.
Situations of uncertainty and risk in modern realities are an integral element of the system of conditions for making management decisions. The inability to calculate and take into account an influence of all possible factors on the final results of financial and economic activities, unpredictable changes of factors taken into account in planning, cause organizational problems, lack of planned benefits and financial losses at various stages of the production, investment and innovation process. One of the most vulnerable areas to be affected by subjective and objective risk factors is construction sector. That is why Stellar Construction pays special attention to risk management.
We believe that development of the integrated risk management system significantly increases the efficiency of operational, investment, and financial activities.
The risk management system of Stellar Construction is a single mechanism for identifying, controlling, and managing risk, its causes and possible consequences.
The internal control system of our Company is based on:
- Continuous analysis and monitoring of planned and actual indicators;
- Evaluation of market trends;
- Analysis of the system of management of financial flows, accounting operations, corporate relations.
Stellar Construction applies the following most effective risk management methods:
- Forecasting methods: in particular,-simulation modeling, which, despite the financial and time costs, a need to attract highly qualified specialists, allows us to simulate technical and economic characteristics of a project;
- Methods of obtaining information (expert assessment): it is advisable at the stage of preparation of an investment project, when an independent assessment of specific types of risks is required;
- Assessment methods: they allow to calculate a probability of receiving both loss and profit, taking into account the assessment of the impact of each risk separately, as well as their cumulative effect.