Policy decisions in regards to Administrative and Financial matters are taken by the Board of Directors on the recommendation of the various authorities/departments and communicated for implementation by all as shown under:
Decisions in day-to-day working are made through office notes, initiated by an Officer and put up to the Controlling Officer.
Final approval of the Competent Authority is obtained in line with the Delegation of Power available in the intranet of the company (for POWERGRID employees).
The Works and Procurement Policy and Procedure document provides guidelines to expedite decision-making process in POWERGRID by consolidating, simplifying and streamlining the various steps to be followed in the process of award of contracts for procurement of goods, works & services as well as during its implementation on the ground.
Transmission projects are capital intensive in nature and POWERGRID being Maharatna Company, its Board is empowered to make investment decisions. The powers for making investment decisions are well defined and approved by its Board. Timelines for completion of various processes and activities are defined in Integrated Management systems (IMS) prepared by individual departments, standard operating procedures (SoP) etc.
POWERGRID is committed to sound Corporate Governance principles by promoting corporate fairness, transparency, fiduciary responsibility and accountability amongst all its stakeholders, beyond its sole shareholder. POWERGRID believes that good governance should entail trusteeship, empowerment, and accountability of the management while remaining responsive to Government policies. It is focused towards its mission for “establishment and operation of regional and national power grids to facilitate transfer of power within and across the regions with reliability, security and economy on sound commercial principles.” This mission is carried out based on the well established practices in engineering & design, procurement, project management, finance, and human resources, which are being followed in letter and spirit and are being continually improved upon.