HB 143:1999

1 - HB 143:1999 GUIDELINES FOR MANAGING RISK
3 - Preface
5 - Contents
7 - Introduction
7 - The public sector guidelines in context
7 - Outcomes
8 - We all manage risk consciously or unconsciously
8 - Managing risk-an integral part of good business practice
8 - Managing risk-an integral part of the reform of the public sector
9 - The Australian and New Zealand Guidelines for managing risks-an opportunity and a challenge
10 - The need to manage risk
10 - What is risk?
11 - What is meant by managing risk?
13 - When is there a need to manage risk?
15 - Management of risk
15 - The public sector context
16 - Pursuing public sector values and ethics
16 - Corporate governance
17 - Recognising the multiple accountability mechanisms
18 - Managing risk and the elected representatives
18 - Managing risk and the Ombudsman
19 - Meeting legal requirements
20 - Avoiding quick solutions
20 - Risks, returns and resource priorities-linkages
21 - The process for managing risk
21 - Risk management at all levels of the organisation
22 - Documenting helps to meet accountability requirements
24 - Establish the context
26 - Key questions in establishing context
26 - Organisation experience-broad context consideration
26 - Documentation of this step
27 - Stakeholder identification
28 - Communication and consultation
28 - Perceptions of risk
29 - Identify risks
30 - Possible methods of identifying risks
30 - Possible sources of risk
31 - Possible areas of risk effect
31 - Key questions in identifying risks
31 - Documentation of this step
32 - Organisation experience
32 - Analyse risks
34 - Likelihood
35 - Consequences
35 - Table to determine the level of risk
36 - Level of risk
36 - Recognising and exploiting opportunities
38 - Possible methods of analysing risks
38 - Qualitative methods include
38 - Quantitative methods include
39 - Key questions in analysing risk
39 - Documentation of this step
39 - Organisation experience-analytical techniques
40 - Evaluate risks
40 - Reasons why a risk may be accepted
41 - As low as reasonably practicable
43 - Management response to the level of risk
43 - Key questions in assessing and ranking
43 - Documentation of this step
43 - Treat risks
43 - Identifying options for risk treatment
45 - Risk recovery
46 - Funding options
46 - Funding of risk treatment
47 - Monitoring and review of the funding process
48 - Key questions in treating risks
48 - Documentation of this step
48 - Continually monitor and review
49 - Possible methods of review
49 - Key questions
49 - Documentation of this step
50 - Implementing a corporate program for managing risk
50 - The challenge for leaders-integration
51 - The challenge for managers-leadership
51 - The challenge for all-continuous improvement
52 - Implementation process
52 - Develop the organisation policy
53 - Establish the organisational infrastructure
53 - Infrastructure issues may include
54 - Manage risks at the organisational level
54 - Cross-organisational risk management
55 - Manage risks at the program, project and team level
55 - Manage risks at the individual level
55 - Monitor and review
56 - Risk management plans
57 - Monitoring the effective performance management plans of risk
58 - Reviewing risk management plan effectiveness
59 - Conclusion
61 - Further information
61 - Professional associations
61 - References
61 - Managing risk-general
63 - Managing risk in specific contexts
64 - Managing risk-Public sector issues
66 - Glossary

Provides a generic framework for managing risk in the public sector, and a reference point for elected representatives, appointed boards of management, chief executive officers, senior executives, line managers and staff when developing risk management processes, systems and techniques that are appropriate to the functional and organisational context of their organisation.

First published as HB 143:1999.