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How to do it

Risk management techniques help build resilience into your circle’s ways of working.

STEP ONE: A RISK IDENTIFICATION WORKSHOP:

  • What are significant risks for our circle?
  • What is a concern for our circle?
  • What worries do we have for the circle?

A risk is that X happens, caused by Y and with the consequence of Z.

Anything goes – GET IT OUT – capture lots of risks without evaluation - that comes later. Build on what others say – one idea or concern can trigger another.

Then make sure you record the risks you have spent this time identifying! The Risk circle can provide an example Risk Register.

STEP TWO: EVALUATE THE RISKS:

  • How bad would it be if this risk happened?
  • Would it limit our ability to carry out our mandate?
  • What other circles/parts of XR might it impact?
  • Who else might it impact? (outside of XR)
  • Do we stand to lose anything if it happens? (donations; financial cost)
  • What might cause this risk?

Answering these questions for each risk, and capturing the answers in your Risk Register means you now know the probability, impact, and severity of your circle's risks. These are important factors that allow you to prioritise your list of risks.

STEP THREE: ACT:

Decide how to deal with the highest priority risks. In the Risk Management world there are essentially 4 ways to deal with a risk:

  • Identify your

    Avoid: risksStop asthe events,activity causesor anddo impacts,it a different way

  • Assess each

    Reduce: Take steps to reduce the risk's severity and/or to reduce its probability

  • Transfer: Flag to the XR Risk circle, seek advice, have third party support

  • Accept: Carry on with activity and levelmonitor ofregularly, impact,have contingency if needed

  • Identify actions to reduce the probability and/or impact of each risk.

  • Identify and assign actions to manage the risks (to reduce their impact and/or probability)

  • Continue to take risks that have been properly assessed.

  • Capture in writing what you've learnt - this can be in a risk register or something else.

An example risk register can be provided by the Risk circle.

If you identify risks with a high impact to XRUK, please notify the Risk circle.

After the workshop, regularly (suggest once/month) review your circle's risks and check that the actions have been done. New risks will have arisen since the workshop, and over time some risks will become more (or less) critical.

A large circle may contain diverse sub-circles and if so, each should carry out risk management. The sub-circles may have different levels of risk and should try to rank themselves so the riskiest circles can be prioritised for any support they may need.

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