Risk Management

Brief
New Risk Management Standard AS/NZS ISO 31000:2009
Risk Management Guide & Toolkit
Types of Risks

Brief

The ACT Government recognises that Risk Management is an integral part of good management and the ACT Insurance Authority is committed to being at the forefront of promoting the adoption of good risk management practices throughout all ACT Government agencies and organisations.

Risk Management initiatives promoted by the Authority include:

• promotion of regular risk management forums and networking meetings for ACT Government personnel involved in risk management;
• assisting agencies with the development of their risk management programs; provision of a variety risk management and insurance training courses for agency representatives;
• provision of risk management tools and guide books to agencies.
• assistance to agencies in identification, assessment and treatment of risks for major events managed by the Territory.

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New Risk Management Standard AS/NZS ISO 31000:2009

The first International Risk Management Standard ISO 31000:2009, together with ISO Guide 73:2009, was released by the International Organisation for Standardisation (ISO) on 15 November 2009. Following the international publication, Standards Australia have officially released AS/NZS ISO 31000:2009 Risk Management – Principles and Guidelines on 19 November 2009, which is a direct adoption of ISO 31000:2009.

ACTIA is working to update all policy and guidance documentation to match the new standards.

For more details please click this link to go to our ISO 31000:2009 page.

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Risk Management Guide & Toolkit

To assist ACT Government agencies implement risk management in their Directorates the Authority has produced some documents for use and distribution.

These documents can be accessed by clicking on the following links.

Click here to download the ACTIA WoG Risk Matrix in MS WORD format

Click here to download the ACTIA Risk Management Templates and Forms in MS WORD format

The excel workbook “ACTIARiskRegisterV01.xlsm”* is an automated risk register that has been developed to record the risk management process from setting the context, identifying and analysing risks, right through to risk treatment plans. This workbook includes a tip sheet and a glossary of terms for your information.

(* Don't forget to 'enable macros' if the Excel security warning appears.)

Click here to download the ACTIA Risk Register in MS Excel format

Please Note:The templates and guides available are under constant review.  Documents will continue to be added to this page as and when they become available. 

Please call the ACTIA Risk Managers for any information or advanced copies of the new draft documents.

To contact the Risk Managers, click here to go to the Contacts page.

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Types of Risks

Here is a list of strategic, operational and project risks that you may wish to consider when organising your risk plan.

These risks could be considered as common throughout all agency’s business.

If you would like to discuss your risk planning obligations please call ACTIA's Risk Managers at any time.

To contact the Risk Managers, click here to go to the Contacts page.

Strategic risks

• STAKEHOLDER EXPECTATIONS
  identify stakeholders
  define needs
  meet expectations

• ENVIRONMENTAL FACTORS
  Internal
  External
  SWOT (Strengths, Weaknesses, Opportunities, Threats)

• STRATEGY FORMULATION
  Mission / Vision
  Goals - CSFs (Critical Success factors)
  Objectives - KPI's (Key Performance Indicators)

• STRATEGY IMPLEMENTATION
  Operational planning
  Programs
  Budgets

Operational risks

• BUSINESS INTERRUPTION
  Supply
  Industrial action
  Utilities

• MANAGEMENT
  Performance
  Environment
  Reputation / Image

• TECHNICAL
  Systems
  Disaster recovery

• FINANCIAL
  Asset management
  Planning

• POLITICAL
  Legislative change
  Community Expectations

• BUSINESS ACTIVITIES
  Security
  Breakdowns
  Contingency Plans
  Customer Service

• NATURAL & HARMFUL ACTIONS
  Fire
  Flood
  Disaster
  Vandalism

• PERSONNEL
  OH&S
  HR Management
  Injury Management
  Key People

• CONTRACTUAL / LEGAL
  Contract
  Public
  Product

Project risks

• PROJECT DEFINITION / SCALE
  level of prescription
  project packaging
  scope of works

• CONTRACTING
  Selection
  Probity
  Legal
  Contract terms / conditions

• CONTRACT MANAGEMENT
  Contract compliance
  Safety
  Delivery of stages
  Contractor viability

• PROJECT MANAGEMENT
  Timelines
  Budgets
  Resources

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