Effective risk management assists the achievement of objectives, maximises the quality and efficiency of an organisation and upholds its reputation.
It can also help identify strengths, weaknesses and opportunities in the day to day and longer term business of an organisation.
Risk management is the process of:
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Identifying risks to achieving aims and objectives.
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Evaluating the potential consequence of these risks.
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Determining and implementing appropriate controls against risks.
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Considering the most effective ways to monitor and mitigate against risks.
Definition of Risk
Within South Wales Police Authority a risk is the outcome of an event, which if caused would:
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Affect the Authority’s ability to meet its vision and objectives, either in the short or long term.
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Result in financial liabilities.
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Damage the Authority or Force’s reputation.
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Reduce confidence in the policing of South Wales.
Click on the document below to view the full Risk Management Strategy and Policy.