Issue - meetings

A proposed new risk strategy management strategy was considered. The Strategy’s objectives were to:

·                provide the basis for a comprehensive, simplified and standardised framework which will integrate risk management into the culture of the organisation;

·                raise awareness of the need for risk management by all those connected with the delivery of the Council’s corporate priorities, including partners;

·                engender associated corporate governance principles, such as risk and transformation activity being driven by programme / project management principles, including the use of business cases for investment decisions to manage risk effectively;

·                support the Council in anticipating and responding to changes in social, environmental and legislative conditions;

·                help to minimise injury, damage, loss and inconvenience to residents, staff, service users and assets arising from or connected with the delivery of services;

·                continually improve procedures for the identification, analysis, assessment and management of risk, and the reporting and recording of events, based on best practice;

·                support the Council in minimising the cost of risk.

The strategy included a revised ‘likelihood x impact’ risk scoring process, including criteria to help gauge the scale of likelihood (‘very unlikely’ to ‘likely’) and impact (‘low’ to ‘very high’). Guidance to help define a scale of risk appetite (from ‘adverse’ to ‘eager’) was also provided.

It was suggested that a ‘lessons learned’ section should be added to the strategy to inform future objective setting and help develop best practice. In response, it was explained that the strategy was a work in progress and could be developed to incorporate such revisions. The extent to which the Strategy should facilitate greater Member involvement in the risk management process was also discussed.  

            R E S O L V E D  - that the new Risk Management Strategy, as attached at            Appendix A to the report, be adopted.