How to manage risk
All key people, including board members, management and volunteers should be involved in every step of the risk management process. For example, your coach has the knowledge for answering questions on risk in coaching and training while your administrator will understand risk in the office environment.
Managing risk may seem daunting. To make the process easier, break the risk manangement process into achievable steps by following this checklist.
Risk management checklist
- Appoint a risk manager - responsible for the risk management process
- Identify ‘key’ people (ie. head coach, event manager, finance director) who will be involved in managing risk
- Determine the club’s risk management context
- Identify risks – what can happen, why and how?
- Analyse risks
- Evaluate risks
- Design a risk elimination and reduction plan
- Implement the plan
- Develop and implement a clear communication strategy on risk management
- Communicate the strategies to all appropriate levels of the club
- Ensure the board addresses risk management periodically as a meeting agenda item
- Monitor and review strategies at least annually and report to the board through the risk manager
- Ensure the board has adopted and implemented a risk management policy.