tpp finance seminar - risk management
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DESCRIPTIONTPP Finance Breakfast Seminar - Risk Management
- 1. Risk and impact Kate Sayer May 2014
- 2. Traditional approaches Identify all the risks you can think of Rank them for impact and likelihood Multiply the factors to prioritise risks Present in a risk register Variations on this?
- 3. What are the drawbacks? Spurious accuracy numbers are misleading Different levels need different formats operational versus high level strategic Risk registers require you to pinpoint a risk event this is unrealistic Creates illusion that you are managing risks by this process
- 4. A different approach Focus on the management of risks Work on organisational capability to respond to unforeseen events Differentiate risks internal, predictable and we can act to prevent the event occurring external and outside our control or arising from the strategy
- 5. Operational risks Managing day-to-day risks is part of the normal management job Managers describe the actions and processes in place to manage risk Then map back to the risks Identify gaps or overlaps Assess how effective these actions are Notes on further actions or changes
- 6. Framework 6 Controls - procedures Risks Aims and objectives Planning Accountability Training Systemic Monitoring Staff welfare External review
- 7. Strategic risks for SMT Focus on external risks and risks arising from the strategy Cannot easily be assigned to one team More likely we will have to respond rather than control Possibility of high impact events Likelihood difficult to assess too subjective
- 8. Strategic risk register Identify major risks and impact Consider responses and how to manage Assign responsibility for management of risk Regular reporting and monitoring of risks
- 9. Getting to better impact Impact = outcomes resources put in Increase the volume or quality of outcomes and outputs Reduce the level of resources (time and effort) put in
- 10. What can we affect? Which beneficiaries we work with What we do How we do it Who does it How long Outcomes Elements of cost
- 11. Improving outcomes At any given point, there are a range of possible outcomes How can you enhance the chances of the route to better outcomes being chosen?
- 12. Improving outcomes Performance target Control anger towards children for 6 consecutive months Outcome All children live in safe, non-violent, nurturing homes Parenting programme Target for individuals on programme Improve parenting skills
- 13. Tracking causal links Call for an appointment for parenting programme 100 Appear for an assessment and first session 60 Attend first three and demonstrate new skill 40 Attend all sessions and demonstrate 3 skills 25 Control anger for 3 months 15 Control anger for 6 months 13 No. peopleMilestones
- 14. Reduce time and effort put in Understand what is already good and could be even better Look at contribution made by activities to outcomes (outputs) What does not contribute and we could stop doing?
- 15. Leave it to luck? Or manage your luck
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