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FSC Risk Management Process

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FSC Risk Management Process

    Foundation Service Centre (FSC) Foundation Service Centre

     - Risk Management Process

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    Foundation Service Centre

Foundation Service Centre (FSC) - Risk Management

    Process

    Draft Document v1.0

Author: Matt Sealby

    Owner: Andy Kirby

    Client: YHGfL

    Document Number: 26

    Document Version: d1.0

    Document Date: 19/05/2006

    108174087.doc; Page 1; of 12; 17/12/2010;

    Foundation Service Centre (FSC) Foundation Service Centre

     - Risk Management Process

Table of Contents

    1. Change Control Information .................................................................................................................. 2 1.1. Record of Changes ............................................................................................................................ 2 2. Introduction ............................................................................................................................................ 3 2.1. Nature of Risk .................................................................................................................................... 3 2.2. Scope ................................................................................................................................................ 3 2.3. Objectives .......................................................................................................................................... 3 2.4. Types of Risk ..................................................................................................................................... 4

    2.4.1. Strategic Risk ............................................................................................................................................ 4

    2.4.2. Programme / Project Risk .......................................................................................................................... 4

    2.4.3. Operational Risk........................................................................................................................................ 4 3. Risk Management Process .................................................................................................................... 5 3.1. Risk Identification .............................................................................................................................. 5

    3.1.1. Categorisation of risks ............................................................................................................................... 5 3.2. Risk Assessment ............................................................................................................................... 6 3.3. Risk Evaluation .................................................................................................................................. 7 3.4. Planning ............................................................................................................................................ 7

    3.4.1. Strategies and Plans ................................................................................................................................. 8 3.5. Management of Risks ........................................................................................................................ 8

    3.5.1. The Risk Manager ..................................................................................................................................... 8

    3.5.2. Risk Management Implementation Plan ..................................................................................................... 9

    3.5.3. Risk Reviews and Reporting ...................................................................................................................... 9

    3.5.4. The Risk Register ...................................................................................................................................... 9

    3.5.5. Closing a Risk ......................................................................................................................................... 10 4. Roles and Responsibilities .................................................................................................................. 11 5. Customer Risk Management ............................................................................................................... 11 6. Appendices........................................................................................................................................... 12 6.1. Appendix A - The Risk Management Process Flowchart ................................................................. 12

1. Change Control Information

1.1. Record of Changes

Release Revision Summary of Changes Changes

    No. Date Marked?

    No d1.0 19/05/2006 First draft

    108174087.doc; Page 2; of 12; 17/12/2010;

    Foundation Service Centre (FSC) Foundation Service Centre

     - Risk Management Process

2. Introduction

    Risk Management is used to identify, analyse, monitor and control risks to the successful outcome of the YHGfL objectives.

    The [Manager - decide who] has overall responsibility for risk management, including procedures that ensure that new risks are identified, captured and progressed, and that extant risks have owners and monitored action plans. A risk register containing details of the risks and plans for their ongoing management will be set up and maintained.

    Risk Management shall include all parties who have inputs to YHGfL, including YHGfL staff, LEA representatives and Supplier representatives.

2.1. Nature of Risk

    Risks are events which can occur at any time and which could adversely affect YHGfL’s objectives, i.e. increased costs, reduced quality of service and increasing numbers of Incidents.

    For individual risks there are opportunities to develop preventative strategies which reduce or eliminate the probability of the risk occurring, or which mitigate the impact of the risk should it occur. There are also opportunities to develop fallback strategies to be implemented should the risk occur. (Please refer to the FSC Service Continuity Plan [hyperlink/location].)

    Choosing to do nothing may be the best strategy in some instances. For example if a mitigating action costs too much, it might be neither sensible nor cost effective to deal with it.

2.2. Scope

    The Risk Management Framework covers YHGfL, the FSC and supported programmes and projects.

    Risk Management will increase awareness of risks across the YHGfL and ensure that appropriate strategies are in place well in advance of any risks occurring, and that the reasons for the selection of particular strategies are understood.

    The process and the approach to Risk Management are described in detail below.

2.3. Objectives

The objectives of Risk Management are to ensure that:

    ; All risks are identified and actions to counter or minimise them are put in place ; Risk Management actions are organised as an effective management plan across all

    YHGfL activities

    ; The overall risk to success diminishes progressively and rapidly

    ; Should a risk become an issue, that it is managed in such as way as to minimise the

    impact on YHGfL

    ; Prioritisation of individual risks is undertaken

2.4. Types of Risk

    108174087.doc; Page 3; of 12; 17/12/2010;

    Foundation Service Centre (FSC) Foundation Service Centre

     - Risk Management Process

There are three broad types of risk:

; Strategic

    ;