1 / 17

Evaluating Risk Management Performance: Strategic Insights & Implementation Guide

Explore how to assess, compare, and enhance your organization's risk management practices for improved outcomes and cost management. Learn about existing models like NHS Standard and HMT Model Benchmarking for effective risk management strategies.

ssellers
Download Presentation

Evaluating Risk Management Performance: Strategic Insights & Implementation Guide

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. It’s Not How Big it is – It’s How You Use it! Peter Andrews Business Support Manager Royal Borough of Windsor & Maidenhead

  2. Three Questions • How do we asses our organisation’s general RM performance? • How do we compare that to other organisations? • How do we begin to measure the influence RM is having on service provision?

  3. What does Mature RM look like? And how far is my organisation away from that? - We need an excellence model

  4. Audit Commission Scoring • 3 • Formal identification of risks • Mapping of risks to internal controls • Risk register in place which is reviewed and updated • Monitoring the effectiveness of the internal controls through key indicators • Changing behaviour and resources allocation in response to clarifying risks. • Involvement of members in determining key risks and response 4 • Formal identification of risks • Mapping of risks to internal controls and to budgets and resource allocations • Risk register, which is reviewed and updated • Monitoring the effectiveness of the internal controls through key indicators • Changing behaviour and resources allocation in response to clarifying risks • Comparison with peer authorities • Involvement of members in determining key risks and response

  5. Existing Models – The NHS Standard

  6. The NHS Standard

  7. Self Assessment

  8. Risk Maturity Matrix – HMT Model

  9. Benchmarking - A Risk Maturity Matrix • Leadership: do senior management and Members support and promote risk management? • Risk Strategy & Policies: Is there a clear risk strategy, and risk policies? • People: Are people equipped and supported to manage risk well? • Partnerships & Resources: Are there effective arrangements for managing risks with partners and are there appropriate supporting resources? • Processes: Do the organisation's processes incorporate effective risk management? • Risk Handling: Are risks handled well? • Outcomes: Does risk management contribute to achieving outcomes?

  10. Performance Indicators & Alarm The Cost of Risk • External Insurance Premiums - Current Annual Cost • Annual Contribution to Insurance Fund - Average for past 3 years • External Claims Handling - Current Annual Cost • Internal Claims Handling - Current Annual Cost • Insurance Administration - Current Annual Cost • Departmental/Business Unit Excess Charges - Previous Years Totals • Cost of Sickness - Previous Years Total • Health Retirement Costs Caused by Work Related Incidents - Previous Years Totals • Risk Management Unit - Current Annual Cost • Risk Management Control Funding - Current Budget • External Consultancy Risk Management - Previous Years Costs

  11. Cost of Risk PI’s • Cost of Risk Management Unit and Control Funding as a % of the total Cost of Risk • Cost of Risk as a % of the Revenue Budget • Cost of Risk per 1,000 Population • Cost of Risk per Full Time Equivalent Employee

  12. Risk Management PI’s • Cost of Risk Management as a % of the Total Cost of Risk • Cost of Risk Management as a % of the Insurance Costs • Cost per Risk Management Day Provided • Cost of Risk Management per Claim Settled at 0 • Cost of Risk Management per Claim Settled below £500 • Cost of Risk Management by Variation in Reported Claims Year on Year • Highways Slips/Trips Cost per Mile of Footpath Length • Highways Pothole Claims Cost per Mile of Road Length • Social Services EL Lifting Claims per FTE Employee • Social Services EL Lifting Claims by Number as a % of Number of Reported Accidents

  13. What do we want RM to achieve? • Make better decisions • Support improvement to services

  14. Performance Measurement

  15. What do we want to measure? • Capabilities • Results

  16. Capabilities • INPUTS • No. of staff actively involved in RM • % of staff/managers trained in period • No. of Risk Assessment workshops in period • No of positive responses to staff surveys • No of Members attending RM training courses • OUTPUTS • %of Cabinet reports with Risk Assessment • % of services Risk Assessed • % of Risk Register reviewed in last quarter

  17. Results • OUTCOMES • Case Study Examples of good RM + successful outcome or innovation due to RM • In projects – % of green traffic lights versus red • Performance of Corporate PI’s • Basket of Key PI’s

More Related