Can You Risk It? - Insurance Commission of Western Australia

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ContentsIntroduction 1Definitions 2Why do we need to manage risk? 2When do we need to manage risk? 3Risk Management Process 3Step 1 – Establish the context 4Step 2 – Risk identification 5Step 3 – Risk assessment 5Step 4 – Risk treatment and control 6Step 5 – Monitoring and review 6Relevant Legislation 7More information 9Attachment A 10Qualitative Measures of Consequences 10Qualitative Measures of Likelihood 10Sample Risk Criteria 10Attachment B 11Sample risk identification form 11Risks by Level of Risk 12Risks by Level of Risk Worksheet 13Community RiskBase User’s GuideIntroduction 17Using your Community RiskBase package 18Main Menu Screen 191. Open Data Entry Form 202. Report – Risks by Level of Risk 223. Report – Risks by Action 234. Report – Risks by Activity/Event 24Report Sample – Risks by Activity/Event 245. Edit Consequence Categories and Likelihood Tables 25To Change Consequence Definition 25To Change Likelihood Frequency: 26Case Study 27
IntroductionRisk management is all about being aware of what may happen as you go about your businessand taking steps to limit the chances of something going wrong, or deciding that you acceptthat something may occur and that you are prepared for the consequences.Risk management is not necessarily something new. You undertake risk management every day. Putting awaythe hose after watering the garden to avoid tripping over it later is an example of risk management. Activatingthe immobiliser on the car to prevent it from being stolen is another example of risk management.However, the emphasis now is on organisations like undertaking a structured approach to riskmanagement to demonstrate to insurers and others that you have a transparent process whichshows how you reached a decision whether to accept or not to accept certain risks.It also gives you a systematic approach to identify and manage key risk exposures so thatyou can direct your resources towards the area where they will be most effective.The State Government has introduced a number of initiatives to address the publicliability crisis, including the following signifi cant pieces of legislation:• the Volunteers (Protection from Liability) Act 2002 which protects volunteersfrom personal liability when performing community work;• the Fire and Emergency Services Legislation Amendment Act 2002 which extends protectionfrom personal liability to volunteer emergency workers and their organisations;• the Civil Liability Act 2002 which creates a fairer and more predictable legislative environment;• the Civil Liability Amendment Bill 2003 which helps to change social and legalattitudes towards the assumption of and liability for risk; and• the Insurance Commission of Western Australia (Amendment) Act 2002 which enablesgovernment to provide insurance cover to eligible community organisations.As well as being good practice, an effective risk management program is a positivestrategy for organisations to identify those unexpected and costly surprises.This resource provides an easy to understand guide to implementing your own risk management program.1 Can You Risk It? An Introduction to Risk Management for Community Organisations
Page 1 and 2: Can You Risk It?AN INTRODUCTION TOR
Page 3: ACKNOWLEDGEMENTRiskCover acknowledg
Page 7 and 8: WHEN DO WE NEED TO MANAGE RISK?Risk
Page 9 and 10: Step 2 - Risk identificationThe pur
Page 11 and 12: Step 4 - Risk treatment and control
Page 13: Relevant LegislationUndertaking a r
Page 16 and 17: Attachment ASample Risk Reference T
Page 18 and 19: Risks by Level of RiskActivity/Even
Page 20 and 21: NotesCan You Risk It? An Introducti
Page 22 and 23: IntroductionIt is important to have
Page 24 and 25: MAIN MENU SCREENThe main menu scree
Page 26 and 27: DATA ENTRY FORMThe Data Entry Form
Page 28 and 29: 3. REPORT - RISKS BY ACTIONThis but
Page 30 and 31: 5. EDIT CONSEQUENCE CATEGORIES AND
Page 32: Case StudyA sporting club undertake

Can You Risk It? - Insurance Commission of Western Australia

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