One particular area of good governance that I find many community groups struggle with is Risk Management. But it doesn’t have to be a complicated or difficult process if you follow a few simple steps:
Step 1 – Identify your risks: Look at what problems have occurred in the past – these will highlight risks you already know about. Then have a brainstorming session to identify other risks that have not yet become a problem.
Step 2 – Assess your risks: Once you feel you have a thorough list of the risks your organisation faces, consider two things for each risk:
- How likely is it that the risk will cause a problem?
- If it did turn into a problem, how serious would it be?
A Risk Management Matrix is a simple table that helps you weigh up these two considerations, and come up with a priority rating for each risk. That way you know which risks to tackle first.
Step 3 – Control your risks: Always aim to eliminate risks altogether. But sometimes this might not be possible. If that is the case, work your way down through a ‘hierarchy of controls’ until you are able to find a way to deal with each of your risks.
To help community groups work to through the Risk Management process I have developed a simple Risk Management Basics Tip Sheet which guides you through these steps, as well as provides simple templates for a Risk Register and a Risk Management Action Plan.
If you would like a copy of these resources please email firstname.lastname@example.org and the Tip Sheet will be emailed to you.
You can download this Blog Post as a tip sheet by clicking here:Tip Sheet_ Useful Resources for Your Group Mar 21, 2017