Commercial Policy

It is QR policy that all activities undertaken will either add value to the corporation in terms of shareholder wealth or meet other specific requirements of Shareholding Ministers. This will be achieved through:

• strategic marketing and effective customer relationship management to understand
  their perceptions and needs and to influence their purchasing decisions in favour of QR products
  
• sound planning to develop an effective Strategic Plan and Statement of Corporate Intent that manages risk and provides direction for the corporation to achieve commercial outcomes;
  
• management of commercial performance including an organisational structure that defines accountabilities and responsibilities and reporting which tracks results against plans;
  
• effective communication and stakeholder management that ensures shareholders, customers and employees are kept informed of issues that directly impact on them and which seeks to engage their support;
  
• regular review of business structure options to utilise the benefits of mergers, acquisitions and joint ventures;
  
• effective life-cycle management of QR’s asset base to achieve a tangible profit or other results aligned with strategic objectives and strategies;
  
• recognising information and intellectual property as a valuable corporate resource to be managed and, where appropriate, protected to deliver commercial value to QR and to manage the risks associated with its use;
  
• sound management of the supply chain and compliance with State Purchasing Policy
  including the responsible procurement, use and disposal of inventory and services while advancing Queensland Government priorities and achieving value for money with probity and accountability.           

Risk Management policy

It is QR policy that reasonably foreseeable risks, whether existing, new or associated with change are systematically identified, analysed, evaluated and, where necessary treated, to ensure that risk is balanced with expected returns. QR recognises that the effective management of enterprise wide risk is an integral part of good business practice and is a key element required to assist the organisation in achieving its objectives.
QR’s approach to the management of risk shall be consistent with the approach described in AS/NZS4360 and shall include business continuity and disaster recovery plans to protect QR’s lines of business.
Risks shall be managed so that:

• residual risk is consistent with QR’s objectives and risk tolerability framework;
  
• residual risk is legally and morally defensible;
  
• the cost of treating risk is consistent with the benefit gained from the treatment.
  

Ethics policy

It is QR policy that ethical principles including the core concepts of due care, diligence and public defensibility guide our activities and decision making. This is achieved by:

• managers and employees acting with honesty which includes the observance of fiduciary integrity in the conduct of their official duties in all activities and dealings with colleagues, customers, communities, suppliers and shareholders;
  
• committing to the principles of fairness and equity. QR recognises the importance of these principles in striving to achieve its vision. QR will operate in an environment where mutual respect, courtesy and dignity are afforded to all;
  
• recognising the importance of trust in its relationships with its employees and unions, customers, suppliers and the communities within which it operates. QR aims to further its relationships of trust by developing clear and open channels of communication, continued customer support and responsiveness to change and new developments;
  
• striving to maintain the highest standards of truthfulness, reliability and care in all its activities;
  
• being a responsible corporate citizen that seeks to positively and sustainably contribute to the communities within which it operates;
  
• approaching its business affairs with professionalism. QR’s managers will actively seek to provide specialised knowledge and expertise and will always act in the best interests of QR and its customers.        

Safety and Security Policy

It is QR policy that all persons affected by QR activities enjoy an environment where health, safety and security risks are removed or mitigated to ALARP (As Low As
Reasonably Practicable). As an operating railway, emphasis is placed on creating an environment that enables the safe carriage of passengers and freight to minimise the risk to workers, customers and the public. QR is committed to a collaborative risk-based approach to safety and security and will utilize existing committees such as the Safety Committee structure to identify, report and remedy health and safety and security concerns at the workplace and operational levels. QR will use the network of elected Workplace Health and Safety Representatives to consult with employees about safety and security issues affecting workers and the QR network. QR workers have a responsibility to adhere to the Safety and Security Management System requirements and proactively assist QR to maintain a safe and secure working environment. Managers have the responsibility for the safety and security performance of their work units.
QR will meet the requirements of this policy by:

• complying with relevant legislative requirements;
• seeking to develop an organizational safety culture that enhances behavioural safety and security;
• developing, implementing and continually improving the management of safety and security through the use of appropriate systems, work practices and evolving
  technologies;
  
• applying risk management principles;
  
• making every reasonable effort to ensure that managers, supervisors and employees understand their responsibilities for safety and security, are provided with appropriate training and empowerment, and are held accountable through performance goals;
  
• the preparation and validation of a safety case prior to implementing major changes with safety implications;
  
• providing a cost-effective audit framework to ensure that systems are appropriate, operational, effective and are meeting the requirements of this policy.        

Environmental Sustainability Policy

QR is committed to managing all its operational activities and services in an environmentally responsible manner to meet legal, social and moral obligations. 

QR aspires to a goal of zero harm to the natural environment. 

QR will seek to be proactive in developing means by which our business can grow in an environmentally sustainable manner. 

To achieve its desired sustainability outcomes, QR will consider environmental issues as a part of everyday decision-making processes and will: 

• maintain an Environment Management System based on identifying and reducing major environmental hazards and impacts from our operations through resource management, preventing pollution, minimising emissions and waste, and protecting significant habitats;  
• ensure open communication with the community, industry and the government on environmental issues; and  
• create an environmentally aware culture based on our ZERO Harm philosophy where everyone accepts accountability for their action.     

Resources Policy

It is QR policy to promote a culture that ensures we treat all employees fairly and equitably within a framework that fosters a feeling of value.
To facilitate this, QR is committed to ensuring that:

• employee remuneration, benefits and other entitlements are in accordance with current agreements;
  
• recruitment and selection are based on the principles of merit;
  
• induction processes inform employees of all safety, performance and behavioural requirements;
  
• performance management and development programs exist to ensure employee performance and skill levels are appropriate to the expected business requirements of QR;
  
• a Code Of Conduct incorporating QR’s Values and Behaviours is in place to ensure all employees are aware of expected workplace behaviours;
  
• an Employee Grievance Process is in place to ensure fair and controlled treatment of workplace grievances;
  
• all Human Resources Management will be underpinned by the following principles:
  
  • observance of legal requirements, award provisions, agreements and policies;
    
  • equitable treatment of all employees including a workplace free of harassment, bullying and workplace violence;
    
  • commitment to corporate plans, statement of corporate intent and QR Values;
    
  • an environment of high integrity, strong and consistent values and continuous improvement;
    
  • commitment to an interest based relationship with unions founded on strong and genuine consultative processes;
    
  • commitment to collective agreements between QR, its employees and their unions excluding managers / specialists employed on an individual contract basis.
    

Finance Policy

It is QR policy to apply contemporary financial practices commensurate with a major
Government Owned Corporation that:

• meet the expectations of stakeholders;
  
• ensure compliance with statutory and other financial obligations;
  
• have controls to safeguard QR assets; and
  
• facilitate a robust audit trail.
  
  

  More specifically, QR shall ensure that:
  

• revenue is accurately assessed and promptly collected;
  
• expenditure is only incurred for QR-business related purposes;
  
• payments are properly authorised;
  
• products and services are accurately costed;
  
• assets are appropriately identified and recorded and are adequately controlled;
  
• liabilities are appropriately authorised and only incurred for authorised purposes;
  
• funding is sourced in the most efficient manner;
  
• an optimal debt to equity structure is achieved and maintained;
  
• financial risks are effectively managed;
  
• only those investments which add value to the organisation or meet other specific requirements of shareholding Ministers are undertaken after a formal process of appraisal and approval;
  
• the legally minimal amount of tax is paid;
  
• all tax payments are made by the due date; 
  
• reporting to third parties is completed in an accurate and timely manner.
  
  

Board Directives