APPENDIX D:

Risk Management Procedure – Template

Table of Contents

Risk Management Procedure 1
Template 1
Table of Contents 2
Introduction 3
Definitions 3
Objectives of Risk Management 4
Benefits of Risk Management 4
Roles and responsibilities 5
Risk Management Governance Structure 5
Relationship with other processes 7
Key Process Steps 8
One: Communicate and Consult 9
Two: Establish the Context 10
Three: Identify Risks 11
Four: Analyse Risks 12
Five: Evaluate Risks 13
Six: Treat Risks 14
Seven: Monitor and Review 15
Risk Reporting 18
Risk Management Reporting Responsibilities 18
Risk Escalation 19
Risk Reports and Recipients 19
Review and Approval 20
Access to Risk Management Reporting Framework 20
References 20
Appendix: Risk Control Likelihood Consequence Rating 18
Control Effectiveness Rating Criteria 18
Likelihood Rating Criteria 18
Consequence Rating Scale 18
Appendix: Risk assessment templates and heat map 18
Risk Assessment Template 18
Risk Assessment Treatment Plan Template 18
Appendix: Risk Reporting – potential risk reports 1
Templates (Examples) 18
Risk Profile 18
Risk Treatment Actions Status – Detailed 18
Assurance Coverage of Key Risks 19
Risk Management Annual Activity Schedule and Improvement Initiatives 20
New and Emerging Threats and Opportunities 21
Detailed Risk Register 21

Introduction

The role of this risk management procedure is to provide staff with guidance in how to apply consistent and comprehensive risk management. This procedure provides information on how to identify, analyse, evaluate and treat risks.

In addition, it identifies other key activities needed for an effective risk management approach. The risk management process contained in this procedure aligns with the Australian Standard for Risk Management (AS/NZS ISO31000:2009).

Risk is the chance of