TitanForge Business Plan › Section 18 › Management, Governance & Delivery Capability

Delivery of a R92 billion multi-asset programme is fundamentally an
organisational capability question. The Group’s operating model
separates programme delivery from operations: a central Programme
Management Office (PMO) owns the integrated schedule, stage gates and
contingency, while divisional leadership owns steady-state performance.
Key appointments — Group CEO, CFO, and the five divisional MDs — are
anchored by an executive scorecard weighted 40% to programme milestones,
40% to financial performance against this plan’s independent (not
sponsor) net profit line, and 20% to safety and ESG outcomes.

• Board: majority independent, with lender-nominated observers
  during the facility life and committees for audit, risk, investment
  (Horizon gate-keeping), remuneration, and social & ethics.
• Owner’s team: EPCM contracting on Iron Crown and Vulcan with
  painshare/gainshare mechanisms; no lump-sum turnkey on complex
  brownfield scopes where claims risk exceeds price certainty
  benefit.
• Assurance: quarterly independent engineer reporting to lenders;
  annual competent-person reserve statements; internal audit co-sourced
  with a Big Four firm from Year 1.
• Insurance: full construction (CAR/EAR), marine cargo, business
  interruption and political risk cover on Horizon jurisdictions via MIGA
  and private-market wrap.

14.1 Board and committee architecture

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