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What is risk?
Risk can be thought of as a possible loss or other adverse consequence that has the potential to impact on a local authority’s ability to achieve its objectives and fulfil its mission.
What is risk management?
Risk management is a process that increases the probability of success and reduces the probability of failure. It can be used to complement an organisation’s business planning and resources allocation processes at a strategic level or at a project, function or operational level. For this reason it is often promoted as an effective management tool to support good governance.
How is risk management applied in an organisation?
Risk is applied by an organisation through the:- identification
- assessment
- management, and
- monitoring
Of key risks that might prevent the achievement of the corporate or business plan objectives.
What are the benefits of risk management?
Risk management is a process, which provides assurance that:
• objectives are more likely to be achieved
• damaging things will not happen or are less likely to happen
• beneficial outcomes will e or are more likely to be achieved.
Can we assist you?
IPB has a long history of activity in Risk Management. We have provided
risk management reports for Local Authorities, Health Boards and Vocational
Education Committees as well as providing expertise. Our staff participate in
risk management committees in various organizations including participation
in national forums inputting to policy development.
Education has been a strong feature of our approach to risk management and
we have provided risk management awareness sessions to staff in all public
bodies.
The company has been to the forefront of developing risk management software
to assist our client's to record, track and analyse accidents and near
misses. The development of a database of all accidents and near misses is
an essential pre-requisite in progressing risk management.
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