Managing risk
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CloseIdentifying and managing risk is a key charity or non profit board responsibility.
All organisations regardless of size or the area they operate in face risk. It could be the risk of losing money, of injuring clients, of bad publicity or of losing key staff or volunteers.
The board can take steps to avoid or reduce risk, to transfer it (for example, by taking out insurance) or it may decide to accept some risks. It’s worth seeing if others face similar risks to you and how they have dealt with it.
In the child care area for example, the Pre‑school Learning Alliance offers its member groups (pre‑schools, baby and toddler groups, nurseries and children’s centres) an insurance package specifically tailored to their needs. The Charity Commission encourages all charities to report on risk and for larger charities it is a legal requirement. You also need to make sure you don’t fall foul of the law – see here for more information on Staying within the law.
Useful links
- The Charity Commission has provided guidance on Charities and risk management.
- Sayer Vincent have produced a useful guide to risk assessment (pdf 90.16kb)
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