COMPETENCE 28: RISK AND ISSUE MANAGEMENT
The ability to identify and monitor risks (threats and opportunities); to plan and implement responses to those risks, and respond to issues that affect a change initiative.
Risk management is the proactive process to identify, assess and respond appropriately to risks. Examples of risk management includes discerning which threats to actively minimise, and opportunities to maximise or pursue. Issue management is about having the flexibility to react to issues in ethical and appropriate ways, including escalation to the appropriate authority.
Knowledge of risk and issue identification techniques.
Continually identify risks and issues within a change initiative.
- Ways to identify risks and issues in the wider context of the organisation.
- How organisational data can be utilised.
- The risk appetites of key stakeholders and an awareness of stakeholders’ perception of risk.
- Ways to ensure that risk and issue management remain visible and invested in.
Knowledge of ways to assess risk.
Assess the probabilities and impacts of the risks within a change initiative and create a risk register, including potential impact and suitable response.
- The governance arrangements in place for assessing risk, incorporating risk appetite and tolerance levels.
- The complexity of a change initiative and the relationship with wider organisational activity.
- The difference between qualitative and quantitative techniques.
- The difference between proactive and reactive response strategies.
Knowledge of the impact of risks and issues.
Implement responses to risks and issues including escalation, addressing any implications for the future.
- The impact of risk response strategies to the business case and wider organisation.
- The tolerance levels that are in place.
- The roles and responsibilities involved in managing risks and issues, including the routes for escalation of issues.
- The accessibility of contingency plans and management reserve.
- Ways to communicate and gain ownership for risks and issues.
Knowledge of continuous improvement.
Record issues, how they were resolved, and their implications, to inform planning for future change initiatives.
- The sources of data to improve issue management.
- The methods that can be used, such as test, learn and adapt.
Knowledge of ongoing ownership of risks.
Transfer, accept or avoid unresolved risks at the end of a change initiative.
- Ways in which to assign ownership of risks at the end of a change initiative.