Integrated planning policy
EPSO-G group implements projects that are important to the Lithuanian people and businesses. To ensure their success, a coherent strategy, investment and business plans, adequate risk management and control are required.
Therefore, the EPSO-G group applies a planning and monitoring system that governs the integrated business planning process of all the group companies, the responsibilities of the parties involved, the timing and frequency of planning document creation, content requirements and guidelines, and management and supervisory measures.
In order to ensure purposeful operation, the EPSO-G group companies use the following integrated-planning documents and monitoring tools:
- Strategy. A document that defines the group’s vision, mission, values, strategic policies, objectives, environmental factor analysis, projected financial and other performance indicators for the long-term (5 to 10-year) period.
- Business plan. A document outlining the means for the implementation of the medium-term (3-year) strategic objectives.
- Long-term financial plan. A document that includes forecasts of the income statement, balance sheet, cash flows, investments and their funding plans for the strategy implementation period.
- Budget. A document that includes short-term (1-year) forecasts of the income statement, balance sheet, cash flows, investment plans.
- Risk register. A document that identifies the company’s operational risks, their sources, control measures, and a potential impact of these risks upon occurrence. It also provides estimates of the likelihood and impact of these risks.
- Risk management plan. This is the part of risk management that details the intended control/prevention measures for risk management.
- Investment plan. A plan for attracting and implementing material and non-material resources to achieve the strategic objectives.
- Monitoring. In order to ensure the implementation of the objectives, tasks and measures set for the EPSO-G group, the policy includes a monitoring system that indicates the scope and frequency of the document implementation statements.