Risk Management Policy Training College Management Trainin

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Risk Management Policy Training

• College Management Training

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Aim of session

• An introduction to the College risk management
  model that will enable us to explain and carry
  out risk assessments in our own teams

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Session Objectives

• That we should be able to understand and use
  risk management tools
• That we should be able to use the risk scoring
  system
• That we should be able to identify risk impacts
  and prioritise the risk register
• That we should be able to formulate risk
  contingency action plans

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Why manage risk?

• Key part of the planning process
• Helps ensure achievement of targets
• Assists planning process
• Enhances college reputation
• Improves working environment / reduces stress
  levels
• LSC require us to Risk Manage

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Risk management process

• Identifying the risks
• What can happen
• How can it happen
• Analyse the risks - various tools
• PARETO 80 - 20 rule
• SWIFT - Structured What If Technique
• SWOT - Strengths Weaknesses Opps Threats

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Risk management process

• Five sources of risk to consider
• Accommodation
• Curriculum
• Finance
• IT Data Collection
• Quality

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Identify The Risks
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Assess the impact

• High impact
• Financial cost greater than 3 of income
• Likely to create adverse local publicity
  impacting reputation / recruitment
• Significant motivational / employee relations
  impact
• Impact on Health Safety performance

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Assess the impact

• Medium impact
• Financial impact between 0.5 and 3 of income
• Limited local publicity
• Impact restricted to small group of employees

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Assess the impact

• Low impact
• Financial impact less than 0.5 of income
• No adverse publicity
• Impact limited to individuals

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Impact Scoring
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Group Exercise

• Using the blank risk register for your source
  area
• -Complete the first four columns identifying as
  many risks as you can.
• -Complete the impact scores and identify a risk
  priority.

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Impact Scoring
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Determine strategy / action plan

• Action will depend on nature of risk and scope
  for managing impact
• Avoidance..We dont take students to Angola
• Reduce..We do take students to Barcelona but
  reduce risks by effective planning
• Limit..Franchises capped as of activity
• Transfer..Insurance policies, sub contracting etc
• Retain..Accept residual risk

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Risk Action Plan
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Group Exercise

• In groups, using the blank risk action plan
  complete the risk register for any Significant or
  Contingency risks you have identified.

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PROCESS SUMMARY
Objectives
Sources of risk
Risk Identification
Risk Scoring
Classify risk
Risk Action Plan