2011 Departmental Risk Register Overview 54 Departments – 100% compliance 866 Risks recorded 550 risks assessed with: –Score of 25 or more –Impact 7 or more –Likelihood 7 or more 222 assessed as recurring/common or potential emerging themes
Overview Quality is variable and some scoring is questionable Some Departments still using spreadsheets rather than Empirical –Caused significant extra work but: Provides an excellent springboard for further engagement Some departments who were very resistant to feedback last year are now complaining that they havent had any! Still a view that a risk is a threat and very few opportunities (28) identified but number is growing.
Overview Likelihood 7 or more Total Total Score 25 or more Impact 7 or more
High Likelihood Risks Likely and High Impact Likely and medium impact Likely and low impact DEPARTMENTSDEPARTMENTS
Common Themes Students –Numbers/quality9 –Experience6 –Overseas5 It would be of concern if Departments were not focused on students but there is no evidence of a systemic or consistent theme to this Finance –Environment 27 –UG numbers/fees8 –Inflation5 –Research income17 Given the current global financial environment, it would be surprising if Finance did not feature extensively. There are no new items that do not also feature in the College risk register and Management Board are already conscious of changes to research funding and pressures on NHS funding that may leak across to the College. Staff –Retention/recruitment/morale35 The strength of Imperial is in its staff and it is entirely appropriate that departments identify and manage the threats and opportunities this presents but no systemic issues are apparent. Space 11 The capital programme creates decants and uncertainty that inevitably concern departments individually. Too many initiatives 4 An inevitable consequence of being Imperial College!
Emerging Themes REF4 Unsurprisingly, this is clearly an emerging theme Organisation13 Further analysis shows no systemic organisational risk Data/ICT/Software13 Further analysis dis not identify a consistent threat or opportunity It is clear that there are a number of cross cutting themes: –Finance –Reputation This is unsurprising as Impact is quantified by these two –Service delivery It is for consideration that assessment of impact in terms of service delivery might prove to be a good early warning metric. This will be considered further. –Influence Imperials ability to influence government policy, at an early stage of development, has been particularly apparent in the last year. Further consideration will be given to whether this is appropriately recognised and captured.
What Next Align with College Risk Register Although the College Risk register is more than a sum of department risks; department risks do inform the College risk register. Commence feedback with focus on: –Value of exercise for Department –Quality of information –Consistency of scoring and terminology
What Next 2 Consider how to utilise the cross cutting themes: –Finance –Reputation –Service Delivery –Influence Explore value of risk appetite Council Risk Committee has discussed how risk appetite might be used to add value to strategic objectives and this will be developed where appropriate.