Risk management - can you risk it?
Organisations must accept that it is inevitable that it will encounter risk, the aim of ‘Risk management’ is for the board and the Chief Executive Officer to ensure that the risks faced do not result in significant loss or harm to the organisation.
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Risk management kit
Can you risk it?
Australians in sport are recognising the need to provide protection for their associations, clubs, members and participants.
Creating a risk management policy for your sport or event can have a number of benefits, all achieved by actively working through a risk management process.
These benefits can include:
- good business and management practice;
- it assists strategic planning;
- it reduces unexpected and costly surprises; and
- it is an effective and efficient allocation of resources.
Risk management should be an ongoing process applied to all aspects of your operations.
For example:
- Have you a security plan in place to avert financial theft by members or staff? It is amazing how many organisations are unaware of these losses until it's too late.
- Have you a plan in place when your truck or equipment transport vehicle blows an engine? Have you the funding to replace the $8000 engine or hire another truck until your truck is mobile again?
- Your sport suddenly faces an image crisis due to some bad press, do you have a plan in place to address this? It may affect your sponsorship and future membership.
- Do you keep your policies and important documents in a safe and accessible place?
These are just a couple of issues that may affect your organisation and that can be addressed by creating a risk management plan. You should do a risk assessment for any new project, event or initiative.
The Department of Sport and Recreation has developed a resource kit
that provides practical assistance to sporting and recreation
organisations in handling risk management issues effectively and
putting appropriate safe practices into place.
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