SPORT4ONTARIO would like to thank Volunteer Alberta for the information contained in this section.
1. Identifying: What are the risks?
Risk is “measured by its likelihood and consequences”
- What assets and resources do you rely on to achieve your objectives?
- What risks can affect those assets and resources?
- What affects or consequences can those risks create?
- How will consequences affect what we do?
- How much will those consequences cost – time, energy, money?
- How will this affect our ability to continue?
- How do we manage to prevent or avoid the affects?
2. Assessing: How much will it cost?
Risk Assessment (What do you need to know)?
To assess potential risks, consider:
- Likelihood: the probability and frequency.
- Consequences: what are they - loss, injury, disadvantage or gain?
- What will they cost?
- Determine how you pay for them.
- The adequacy of existing risk management strategies – are they working?
- Decide which risks are to be treated and how
What It Considers
- The talent, commitment and community
- Staff, volunteers, clients, board members, donors
- Injuries never fully repaired, often expensive
- Nonprofits help people, not hurt them
- Owned, leased, rented, borrowed, loaned if damaged who is responsible?
- Kept in one place – office equipment, buildings
- In various places or travels from place to place
- To transport people or property – vehicles
- Computers and data – cannot afford to lose
- Must have physical protection
- Do not rely on insurance
- Cash, Securities, Financial Assets
- Must have specific handling procedures
- Arising from activities, operations, programs
- Supervision of staff and volunteers
- Transportation of people and property
- Decisions made by directors and officers
- Occupancy of non-owned buildings or facilities
- Use of non-owned vehicles
- Injuries to staff, volunteers, participants
- Special events for fundraising
- Loss of funding
- Event proceeds inadequate
- Contract cancelled
- Disasters such as fire or flood
- NO INSURANCE AVAILABLE
- Key to fundraising, volunteer recruitment, staff retention
- Difficult to quantify, critical to maintain
- Occurs in wake of a crisis
Other Risk Management Topics: