Risk management in Lambeth
Risk management is an essential part of our drive to ensure we deliver the best possible services to Lambeth residents.
To do this affectively we need to ensure that all the positive things we plan do happen and that we identify and prevent bad things happening that could stop or blow us off course.
Lambeth council is committed to improving risk management. Over the last two years, we have invested in the resources to support risk management internally. Over the next three years we will also be investing in risk management for both schools and partnerships. This will ensure that a consistent approach is used across all services in Lambeth which involve the council and its partners.
To find out more about our aims for the next three years see our Risk Management Strategy 2007-2010.
How we manage risk
If an organisation does not take risks then nothing changes so a structured approach to risk management is critical to progress and effectively manage our business.
We follow a four step approach to identifying and managing risks in Lambeth.
- Risk identification
This process is concerned with identifying the unknown events that can impact on business objectives.
- Risk evaluation
Once risks have been identified they need to be rated in order to identify the risks that pose the greatest threat. This is done by looking at both the likelihood and impact.
- Treating and controlling risks
This involves identifying what measures we will have to take to lower the chances of threats occurring or increasing the likelihood or impact of opportunities.
- Monitoring and reviewing risks
Risk management is a dynamic process – new risks will be identified, some will be resolved and our approaches to dealing with risks are constantly under review.
Monitoring risk management
A corporate risk register of the highest risks to Lambeth has been drawn up and reports are submitted to the Corporate Committee on a quarterly basis.
View the Corporate risk register reports.
Recent awards
Our risk management service has won a number of awards in recognition of our high standard of service.
- Winner - Mark Nicolson, Risk Manager of the year 2006 – ALARM, The National Forum for Risk Management in the Public Sector
- Highly Commended - Strategic risk management approach 2006– ALARM, The National Forum for Risk Management in the Public Sector
- Commended -risk management approach 2006 – Local Government Chronicle