This strategy explains how we will implement sound management of risks and opportunities. Risk management is the culture, processes and structures that are directed towards effective management of potential opportunities and threats to achieving objectives. It affects everyone in the council and in the wider community. It makes sound business sense; effective risk management is good management.
Risk needs to be managed rather than avoided and consideration of risk should not stifle innovation. The council recognises that it has to deliver services in an increasingly litigious and risk averse society. However, risk management is a tool for exploiting opportunities as well as a safeguard against potential threats. The council will therefore use risk management to promote innovation in support of our strategic objectives as detailed in Aiming High.
A systematic approach to identifying and analysing risks is an integral part of all management processes and day-to-day working, rather than a separate initiative and will be developed using the simplest possible means.
The Chief Executive and Executive Directors have the responsibility for promoting the strategy throughout the authority. The Executive Director - Resources is the designated risk champion.