Managing our risks
Our approach to risk
Cheltenham Borough Council believes that risk needs to be managed, rather than avoided, and that a rigorous approach to all aspects of risk management is an integral part of good management practice. Through having a sound risk management process we will ensure:
- we continue to achieve our aims and ambitions and sustainable improvement in services
- we develop and maintain a safe and healthy environment for the public, and for our employees
- we reduce the number and cost of insurance claims
What is risk?
Risk is defined as:
"An uncertain event or set of events which, should it occur, will have an effect upon the achievement of objectives, within the lifetime of the objective."
Risk management is defined as:
"The activities required to identify and control exposure to uncertainty which may impact on the achievement of objectives."
How do we deal with risk?
At Cheltenham Borough Council, everyone has a role to play in risk management. Combining shared leadership with a team approach will help contribute to the success of integrated risk management. Our corporate risk management policy provides a full understanding of how we identify, score, record and report risk.
Corporate risk management
There are two parts to the management of risks at corporate level, which are detailed in the corporate risk register. Part A contains risks to a single objective, that of "the successful delivery of the corporate business plan". The objectives that are risk assessed in part B are our ambitions.
Divisional risk management
Underpinning our corporate plan are milestones, projects and day-to-day service delivery. Divisions and services have objectives they plan to achieve. These objectives are risk assessed to help improve our overall performance and management of service delivery. We recognise that it is essential that we maintain an up-to-date, consistent and pro-active approach to risk at a divisional level.
Recording and monitoring risk
Recording and monitoring risk is done via our internal electronic service plan management system. Reports are then presented to the senior leadership team and the corporate governance group.