Risk Profiling Guide (15 pages)
A first step in pursuing integrated risk management is to develop an organization-wide risk profile (often referred to as a corporate or enterprise risk profile).
The risk profile guide (15 pages in Word) identifies challenges in implementing integrated risk management and profiling organization-wide risks, and sets forth guiding principles and key messages. Key elements of a risk profile are highlighted, including the identification and description of risks, impact, likelihood, trend, mitigation measures, and risk priority. A work plan is also provided.
A risk profile can be prepared for a specific department, agency, or sector/branch, depending on the scope of the unit's mandate and operations. The challenge is to ensure that risk management is aligned at the various levels of the organization.
You will receive an email with a link to download the guide in a Word fully editable format. The generic risk profiling template is also provided in a Powerpoint editable format.
Risk profiling challenges
Risk profiling looks easy but unfortunately everybody has a different concept of what a risk. Too often, risks are identified that are simply constraints (e.g., lack of resources). Challenges in risk profiling within a public sector context include:
Public agencies must respond to unpredictable external emergencies that happen suddenly, are difficult to plan for, and vary considerably in scope.
Public organizations must often work within international and/or national collaborative frameworks.
Risk communication must balance the need for transparency with the need to be a responsible government.
Public organizations are facing ever increasing legal risks.
Risks need to be addressed on both a short term and long term basis.
Lack of quantitative data to support the assessment of risks.
In some cases, the public may consider a risk to be of greater concern that it would otherwise be assessed from a strictly science-based or technical perspective. Public pressure and perceptions may result in existing resources or additional new resources being directed to areas of high concern in the public agenda.