Talk:Risk Register

Managing risk

This is a document that has emerged from a slow gestation. The board is keen for the community to have access to our risk register and statements. It will be reviewed by staff quarterly with a report to the board on the top five risks, or more should I consider there to be more.

It fits alongside the annual programme and work plan which is also going to be reported quarterly.

Any comments that will help this process welcome. Jon Davies WMUK (talk) 09:35, 19 February 2013 (UTC)

Can you clarify, is this a proposal from the staff to the board, or is this the final approved policy? The introduction only mentioned the board's request for the staff to prepare a first draft, it doesn't mention the board discussing it. It was in your report for the recent board meeting, but doesn't seem to have been on the agenda (the minutes aren't up yet). --Tango (talk) 12:50, 19 February 2013 (UTC)

It is a long document and it is possible that I did not fully update it to reflect the board decision - can you point to where this is please if you remember - many thanks in advance. Jon Davies (WMUK) (talk) 14:21, 19 February 2013 (UTC)

I just meant the introduction. It talks about the board requesting it and the staff preparing it, but then the story abruptly finishes. It just needs another sentence saying the board discussed it at their meeting on whatever date it was, amended it as they saw fit and then adopted it as formal policy. I have no idea is the changes they agreed to make were made, since I wasn't at the meeting. --Tango (talk) 17:31, 19 February 2013 (UTC)

Will do - we missed you - where were you? Jon Davies (WMUK) (talk) 17:50, 19 February 2013 (UTC)

Hi Tom, it was discussed and agreed at the Board meeting (though you're right the document isn't updated to reflect this). The Land (talk) 14:13, 19 February 2013 (UTC)

Again, Myself and a volunteer went through it but if there are places that it is not updated please let me know. Thanks Jon Davies (WMUK) (talk) 14:21, 19 February 2013 (UTC)

Visualisation

I have often found that a 5 x 5 grid, with red to show high values and green to show low values is helpful. This does appear in the document, but perhaps should be applied to tables such as "RISKS TO BE MONITORED QUARTERLY" Gordo (talk) 09:47, 19 February 2013 (UTC)

I agree. This has been prepared using a grid approach, so it might as well be presented that way. I would also suggest expanding the current 3x3 grid to a 5x5 grid when this is reviewed next year - that allows for a little more subtlety. Having all low probability events in lowest category regardless of potential impact is obviously not ideal - if "low" means "once in a century", then that may be fine, but when you only have three categories of probability "low" must mean quite a bit more likely that that (see my comments on quantification below). --Tango (talk) 13:00, 19 February 2013 (UTC)

I LOVE grids and use them on the original document. Thanks to Rexx the document s as lovely as it is. At annual revision will share the original document all being well.

Jon Davies (WMUK) (talk) 14:23, 19 February 2013 (UTC)

Quantification

I haven't had time to read through all the individual risks, but the general structure and approach looks good. My suggestion for when this is reviewed in a year's time is that you try and incorporate more quantification in terms of impact, probability and time horizons (more emphasis on time horizons is needed too - they are mentioned, but only in passing). Quantifying things can be very difficult (especially when your goals aren't profit based - most of your risks can't be quantified simply in money terms like they can for a for-profit business) so I don't think you should delay implementing this policy for it, but it will need to be introduced over time as you get used to thinking about risks and start taking more sophisticated approaches towards them. --Tango (talk) 12:55, 19 February 2013 (UTC)