Fillable Printable Standard Risk Management Plan Template
Fillable Printable Standard Risk Management Plan Template
Standard Risk Management Plan Template
Risk Management
Plan Template
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services,
Administration for Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or
recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of
Health and Human Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May
11, 2011.
Risk Management Plan
Fiscal Year 20XX
INSERT YOUR ORGANIZATION’S NAME
HERE
Approved by the Board of Directors
DATE
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services,
Administration for Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or
recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of
Health and Human Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May
11, 2011.
Overview
This document consists of the three sections listed below. Page numbers have not been included.
The length cannot be predicted of any of the sections into which information will be placed.
Also, the number of Risk Mitigation Tracking Worksheets, Reports, and Corrective Action Plans
to be included is also unpredictable.
Risk Assessment
Methods
Anticipating Vulnerability
Responses to Risk
Mitigation Strategies
Implementation Responsibilities
Monitoring
Evaluation of success
Corrective action
This document has been laid out as a series of worksheet for completing tasks necessary to
development of a Risk Management Plan. Users should feel free to expand the basic format of
any worksheet in ways that make elements of the plan easier to understand and apply.
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services,
Administration for Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings,
conclusions, or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of
the U.S. Department of Health and Human Services, Administration for Children and Families.
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration
for Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations
expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of Health and Human
Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Risk Assessment
The risk management process begins with determination of the range of risks faced by your
organization. It is very important to acknowledge and record the methods you used to identify
risks and the assumptions you made in assessing the organization’s vulnerability to them.
Experience carrying out your risk management plan is likely to highlight mistakes and
weaknesses in your methods and assumptions. You will want to revisit and update them at the
beginning of each planning cycle. As the webinar quote from Donald Rumsfeld warns us: we
want to turn as many unknowns as possible into knowns.
Methods
In this section you should describe the risks you have identified, the techniques you used to make
those identifications, and the category to which each risk belongs. This task can be simplified by
using the following matrix to document your results. Add as many rows as needed.
Possible Identification Methods might include: Risk categories might include:
Program monitoring data
Insurance claims history
Audit and monitoring reports
Accident reports
Employee focus groups
Employment practices
Financial management practices
Personal injury
Property damage
List Risks Identification Technique(s) or Methods Risk Category
Just TAB through the end of the last row to add more rows.
Risk Assessment - 2
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services,
Administration for Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or
recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of
Health and Human Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May
11, 2011.
Anticipating Vulnerability
The next step is to document the assumptions you have made about your organization’s
vulnerability to risks. The Risk Matrix explained in the webinar provides a useful first step in
assessing both the likelihood a risk will occur and the severity of the consequences.
You can simplify this task by inserting the
Vulnerability to Risk
worksheet in your plan in
this section.
The table below will help you to go about that process systematically.
Transfer list of risks you have identified from the previous page.
Note factors you considered relative to the likelihood of the risk occurring.
Note factors you considered relative to the severity of the consequences should the risk
occur.
Estimate what it might cost to take steps to limit or reduce the consequences of this risk.
Estimate a range of costs the organization might have to absorb if it takes no remedial
action.
Risks Likelihood Severity Cost
Risk Assessment - 3
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration for Children and Families, Office of Community
Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S.
Department of Health and Human Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Relative Vulnerability
Based on your analysis of vulnerability to the risks you identified above, place each of the risks in what you judge to be the correct
cell in the matrix below. This will help you draw conclusions about the relative urgency of responding to these risks.
Negligible Marginal Critical Catastrophic
Certain
Likely
Possible
Unlikely
Rare
Low Moderate High Extreme
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration for Children and Families, Office of Community
Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S.
Department of Health and Human Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Responses to Risk
The response section of your plan contains the strategies you will use to lessen your exposure to risks. You need to describe the
strategies and identify the person(s) responsible for putting those strategies in place.
Risk – Copy into the first column the list of risks you ended up with in the previous section.
Mitigation Strategies – In this column list all of the strategies you will carry out to lessen each risk.
Implementation Responsibility – List the position responsible for carrying out each risk mitigation strategy. Include employee
names if you wish.
Risk Mitigation Strategies Implementation Responsibility
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration
for Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations
expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of Health and Human
Services, Administration for Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Monitoring
The last phase of risk management consists of systematic follow-up on the mitigation strategies
you have chosen. You will develop plans to collect and analyze data about instances when your
strategies have not worked. You will describe the corrective action steps to be taken to make
your strategies more effective.
Evaluation
A template for a Risk Mitigation Tracking Worksheet is attached to this plan. A form should
be created to monitor all mitigation strategies. Those forms should be enclosed behind this page.
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration for
Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations expressed in this
material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of Health and Human Services, Administration for
Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Risk Mitigation Tracking Worksheet
Mitigation strategy being monitored:
Documents monitored ( )
Application documents Client files
Location
Indicator Code Key
Replace the numbers in the top row with the warning signs for this risk mitigation strategy you
are tracking.
Recopy the matrix if you need to list more elements. Place the copy below the first matrix.
In each column, list specific types of mitigation errors you want to track.
Key 1 2 3 4 5
1
2
3
4
5
Mitigation Exceptions Identified
What has been monitored? Sample size
Identifier 1 2 3 4 5 6 7 8 9 10
Monitor
Annie Bahdi
Position
Quality Control Specialist
Date
12/29/18
Signature
Received by
Date
Monitoring - 3
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration for
Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations expressed in this
material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of Health and Human Services, Administration for
Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Corrective Action
When your tracking data shows a pattern of ineffectiveness, you need to develop a Corrective Action
Plan to restore your strategy’s effectiveness.
A corrective action plan need not be complicated. It will be focused on the causes of the reduced
effectiveness of the specific mitigation strategy you have evaluated.
A corrective action plan is a more narrowly focused version of a mitigation tracking process. It has the
same basic components:
Risk Management Corrective Action Plan
CAA Name
Fiscal Year
Risk
Strategy
Responsible
Date
Causes identified
in analysis
Cause to be
corrected
A list of strategies
Specific success indicators
that you will track
Mechanisms for reporting
results to top management and
the board
a.
b.
1.
c.
a.
b.
2.
c.
a.
b.
3.
c.
This template can be copied to create a corrective action plan.
This publication was created by Meliora Partners, Inc., in the performance of the U.S. Department of Health and Human Services, Administration for
Children and Families, Office of Community Services Grant Number 90ET0430. Any opinion, findings, conclusions, or recommendations expressed in this
material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of Health and Human Services, Administration for
Children and Families. Prepared for the Risk Management – An Organizational “Flu Shot,” May 11, 2011.
Risk Management Planning Worksheet Templates
The attached worksheets can be printed separately to complete specific tasks in the
planning process.
In most cases, the completed worksheets can be inserted into a finished plan.
Worksheets included:
•
Risk Identification Worksheet
•
Anticipating Vulnerability Worksheet
• Responding to Risk Worksheet
•
Risk Mitigation Tracking Worksheet
•
Corrective Action Plan
