Introduction to Territory Wide Risk Management
Risk Management Templates
Risk Management Plan: Title Page – Setting the Context
Directorate:
Agency / Division / Business Unit:
Risk Assessment Undertaken by
Internal Stakeholders
Manager Responsible:
Risk Owners – Officers responsible for
managing the risk
1.
4.
1.
2.
3.
4.
5.
6.
Details
Risk assessment activities to be carried
out:
E.G. Directorate / Agency / Business Unit Risk Management
Plan or Project / Activity/ Business Process or Undertaking
Risk Management plan.
Define the Activity
Provide a summarised definition of the activity, process,
function, project, product or service in terms of time, location
in addition to goals and objectives.
Scope
Set the parameters of the Risk Management process which
includes specifics of the activities to be carried out – what is
to be included and what is not to be included or considered
in this plan.
Date risk assessment completed:
Date risk assessment review to be completed:
2.
5.
Officers responsible for managing risk
treatments
1.
2.
3.
4.
5.
6.
3.
6.
Risk Criteria
Risk Reference
Risk Register part 1 – risk identification
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
The Risk:
Source
Impact /Outcome
What can happen?
How can this happen?
What will be the outcome or effect, if
what can happen does happen?
A description of the risk
Drivers to the risk
Contributor or source of the risk
Impact on the business objectives
Impact from the event happening
Consequence
Risk Owner – the
officer
responsible for
managing the
risk
Risk Reference
Risk Register part 1 – risk identification
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
The Risk:
Source
Impact /Outcome
What can happen?
How can this happen?
What will be the outcome or effect, if
what can happen does happen?
A description of the risk
Drivers to the risk
Contributor or source of the risk
Impact on the business objectives
Impact from the event happening
Consequence
Risk Owner – the
officer
responsible for
managing the
risk
Risk Register part 2 – risk assessment, risk evaluation and risk treatment
1
2
3
4
5
6
7
8
9
Monitoring and
reviewing
Control Effectiveness rating
Residual Risk Rating
Likelihood of Conseq.
Risk rating
following
additional risk
controls
Consequence
Reference can be made to an attaching “cost /
benefit analysis” or “risk treatment action plan” for
relevant risks.
for Management of Risk Treatments
Can include further risk treatment strategies or a
rationale behind no further action where rating is
rated as “Room for Improvement” or” inadequate.”
Risk Treatment Owner – officer responsible
Control Effectiveness Rating
Inherent Risk Rating
Action to be taken
Likelihood of Conseq.
This field is for the risk controls that already
exist and are currently managing the risk
Risk Rating
Consequence
Risk Reference
Risk Controls which are currently in
place
Monitored by whom with
the inclusion of details
about frequency
requirements of
monitoring in addition to
the final review to occur.
Where appropriate can
refer to a “risk treatment
plan.”
Risk Register part 2 – risk assessment, risk evaluation and risk treatment
10
11
12
13
14
15
16
17
18
Monitoring and
reviewing
Control Effectiveness rating
Residual Risk Rating
Likelihood of Conseq.
Risk rating
following
additional risk
controls
Consequence
Reference can be made to an attaching “cost /
benefit analysis” or “risk treatment action plan” for
relevant risks.
for Management of Risk Treatments
Can include further risk treatment strategies or a
rationale behind no further action where rating is
rated as “Room for Improvement” or” inadequate.”
Risk Treatment Owner – officer responsible
Control Effectiveness Rating
Inherent Risk Rating
Action to be taken
Likelihood of Conseq.
This field is for the risk controls that already
exist and are currently managing the risk
Risk Rating
Consequence
Risk Reference
Risk Controls which are currently in
place
Monitored by whom with
the inclusion of details
about frequency
requirements of
monitoring in addition to
the final review to occur.
Where appropriate can
refer to a “risk treatment
plan.”
Directorate:
Agency / Division / Business Unit:
Risk Reference
Number
Manager Responsible:
Identified Risk
Inherent Risk
Rating
Current Controls
Residual Risk
Rating to be
achieved
(on completion of
action plan)
TREATMENT STRATEGY
Strategy 1
Strategy 2
Strategy 3
Strategy 4
Strategy 5
IMPLEMENTATION
Action to be undertaken in order to implement the risk treatment strategy
ACTION 1
ACTION 2
ACTION 3
ACTION 4
ACTION 5
Action
Officer
Due
Date
Date
finished
Comments
These templates may assist in the risk
management process, to set the
context and/or support decisions
made throughout the risk
management process
PESTLE Analysis
ECONOMIC
Economic factors relates to areas such as inflation rate, interest
rate, economic growth or exchange rates and how this impacts on
the organisation.
POLITICAL
Political factors the extent to which government policy affects the
organisations operations. Political factors include, tax policy, tariffs,
trade restrictions and even environmental law.
SOCIO-CULTURAL
Social factors mainly refer to demographic factors, which comprise
factors like population growth rate, cultural aspects, age
distribution and health consciousness.
LEGAL / LEGISLATION
Legal factors refer to all the laws directly connected to a
business/company and its area of activity, including consumer law,
discrimination law and health and safety law.
TECHNOLOGICAL
Technological factors refer to automation, incentives, the rate of
technological change and R&D activity and how this affects business
operations.
ENVIRONMENTAL
Environmental factors refers to weather, climate, geographical
position and climate change.
SWOT Analysis
Strengths
(The organisations core competencies and resources which can be used to effectively achieve
objectives)
Opportunity
(Any favourable situation in the organisations environment which will allow the organisation to
enhance its position)
Weaknesses
(Limitations, faults or defects in the organisation that will keep it from achieving its objectives)
Threat
(Any unfavourable situation in the organisations environment that is potentially damaging to its
strategy such as a barrier, constraint or anything which could cause problems for the business or
activity)
Cost / Benefit Analysis
Costs
Benefits
All of the direct and indirect costs associated with the business, operations, project,
undertaking or action. Can include: capital costs, tax and fees, outsource
consulting fees, training, facilities, overheads, utilities, time etc.
All of the direct and indirect benefits associated with the business, operations,
project, undertaking or action. Can include: increased output, reduced costs,
reduced labour costs, reduced taxes, reduced number of incidents etc.