Summary

Below is an introduction to our risk management policy statement together with a link to the full document| in portable document format (pdf).

 

Attachments

Adobe Acrobat's portable document format (pdf). To view these files you will need to have the Adobe Acrobat Reader installed on your computer. This can be downloaded free at Adobe's web site| [External].

 

Risk Management Policy Statement 2006 (pdf 47kb)|

 

Introduction

Risk management is all about managing our threats and opportunities. By managing our threats effectively we will be in a stronger position to deliver our objectives. By managing our opportunities well we will be in a better position to provide improved services and better value for money.

 

In this strategy risk is defined as something happening that may have an impact on the achievement of our objectives. When our management of risk goes well it often remains unnoticed. When it fails, however, the consequences can be significant and high profile. Effective risk management is needed to prevent such failures.

 

A risk management strategy is an essential element of strategic planning. We have a corporate plan covering the whole of our activities and the risk management strategy should be seen as sitting under this broader umbrella.

 

This risk management strategy describes the processes that we will put in place and link together to identify, assess, address and review and report on our risks. The strategy provides the framework for the management of risk
across the whole Council.

 

Overall, the goals of our risk management strategy are to have procedures in place to:-

• Integrate risk management into the culture of the organisation.
• Manage risk in accordance with best practice.
• Fully document major threats and opportunities. 
• Clearly identify risk exposures.
• Implement cost effective actions to reduce risks. 
• Ensure conscious and properly evaluated risk decisions.