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Monday 22 June 2020
I feel it’s important we regularly remind ourselves of the value risk management brings to an organisation - particularly during these challenging times.
Risk management is an integral part of good corporate governance and can bring many benefits to an organisation.
Clear identification, assessment and management of threats and opportunities will support an organisation in:
Public service organisations are responding to a crisis, as well as meeting societal need the best they can.
We are working in times of uncertainty while managing major change. At the same time, we are expected to deliver services in new and innovative ways, often through partnership working. All of this attracts both threats and opportunities that need to be managed if desired outcomes are to be achieved.
The benefits of risk management
Risk management is not simply a compliance issue, but rather a way of viewing our operations with a significant impact on long-term viability. It helps us demonstrate openness, integrity and accountability in all of our dealings.
Here are some widely accepted benefits of risk management to remind everyone how important it is – and how important your work is to your organisation.
Risk management reduces the risk and impact of:
Risk management helps our services perform better by:
Kerry O’Donovan, Risk Analyst, Transport for Wales and ALARM Board Director.