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Hi everybody… I hope you are good. Thank you for the work you are doing to improve risk management across the UK public sector in alignment with the government’s risk management visions.
We can enrich decision making with good risk insight and smart approaches. We can drive targeted initiatives to change behaviour and culture. We can reach our potential and we can support each other.
Yes, that means we need to think strategically but sometimes we also need to go with our gut and take tactical steps to break inefficient/ ineffective cycles and move things forward – taking some personal chances along the way.
That takes courage, doesn’t it?
We can’t all be brave all of the time but there are moments to step up and when we do, we can have each other’s backs. The Risk COE’s work on the profession, on developing tools and products for adoption/ adaptation by departments, and the “function-like” role it performs in providing cohesion and navigation across many different risk-related teams should help you be even more confident in your own progress.
There are also times when we are simply here for you when you take good risks in order to achieve more. We all benefit sometimes from “offline chats” and we are here for the brave.
Ciao!
Now live, please promote!
We are delighted to announce that the open schedule cross-government pilot workshop is confirmed as Thursday 17 October and places are now bookable on Civil Service Learning. The one-day workshop will take place in-person in central London, with 12 places available and cost per delegate is £676. This pilot provides a flexible option for individual SCS colleagues or smaller organisations, as bookings can be made on an individual basis, as well as providing an opportunity for departmental networking in the cross-government cohort.
Any additional future dates will depend on the successful take up of this pilot date and therefore we ask that you share widely and at pace in your departments to encourage sign-up with your non-risk professional SCS colleagues. The training remains available for departments to book closed cohorts at any point. You can find further information on the training on Prospectus Online.
We are excited to announce that the Risk Fast Stream is due to launch in 2025, thanks for all your support as a community in making this happen. This marks an important and significant step for risk management in government and upholds our commitment to the public accounts committee to establish a risk professionals’ pipeline. The scheme is now listed on the official fast stream web site Home | Civil Service Fast Stream and is also mentioned in Civil Service World.
HR directors for all government departments have now received the Fast Stream bid form to complete for 2025 (which includes a new box for the risk management scheme). If you are intending to host a fast streamer please engage with your HR teams proactively to ensure your organisation’s bid for the scheme risk is part of their return (deadline Tuesday 1st October 2024).
Please be aware that it is not too late to bid, even if you haven’t indicated any interest in the scheme previously. If you would like more information, please do not hesitate to contact the riskcoe@hmtreasury.gov.uk.
Please find some key information below:
- The scheme will furnish participants with risk management skills alongside a broader leadership and management programme, whilst also providing cross-government exposure
- Detailed design of the 3.5-year scheme is under way - it will provide flexibility to serve the diverse placements we hope to offer. The aim is to offboard candidates at the 3-year point, with the additional 6 months offering us a grace period.
- Whilst we anticipate most placements will be in Enterprise Risk Management, other linked areas where risk management skills can be demonstrated will likely be suitable. If your organisation readily uses fast streamers, you may wish to consider if the risk management fast stream could also meet other existing resource gaps.
- The requirement to offer Grade 7 roles at the end of the scheme can be managed as a profession. Given our modest intake, we are confident that all fast streamers can be placed across government. Please do not let the fact you cannot guarantee a G7 post in 2028 deter you from making a bid.
We are excited to introduce the Risk Quantification Excel Tool: a user-friendly, entry-level application designed to introduce users to the basics of risk modelling. This tool offers a simple way to explore how individual risks can influence the range of potential outcomes within a risk portfolio. Perfect for those new to risk quantification, it allows users to experiment and gain insights into the process without needing advanced Excel skills.
However, it’s important to remember that this tool is meant solely for illustrative purposes and should not be used for actual risk quantification or decision-making. Its primary goal is to ignite curiosity and lay the foundation for more sophisticated risk analysis techniques, setting the stage for deeper exploration into advanced risk management methods. This tool can be found in the powerpack on One Finance.
The Cross Government Risk in Major Programmes working group has developed a new ‘Programme Risk Management Effectiveness Assessment’ Tool in line with Orange Book principles, HMT and IPA guidance.
The working group developed this demand-driven product through a 6-week sprint (which included a review of 30+ government risk management and project delivery guidance) and the tool can be adapted to suit local conditions. The tool is now part of the Risk Toolbox.
Used well, this tool should help:
- Improve risk-adjusted value for money.
- Increase confidence in successful achievement of programme outcomes.
- Build more robust programme governance, investment and control.
- Strengthen links to Orange Book principles and the Risk Control Framework.
We trust you will find this product useful to further improve risk management effectiveness in major programmes. We would love to hear your experiences of using the tool within your organisations, please do share these with the Risk Centre of Excellence (riskcoe@hmtreasury.gov.uk).
Some of you are more directly involved in the risk-related aspects of Missions within your organisations. The Risk CoE developed a Mission Risk Assessment Template (available on OneFinance as part of our Risk Toolbox) to enrich the understanding of what is driving the chances of different degrees of success or failure to further support mission risk identification and assessment, building on the three-step approach outlined in our previously shared thinking on risk management in missions. The MRA template can be used in conjunction with the Value Driver and Risk Scenario Planning Toolkits to better articulate and manage risk-related challenges in missions.
Whilst this template captures risk related aspects in Missions, it can be easily adapted and used more broadly for risk management assessments at different levels within organizations.
We trust you will find this product useful in your mission risk management and wider risk assessment efforts.
The Institute of Risk Management’s June 2025 Student Cohort is open for enrolment. Their globally recognised qualifications are ideal for those looking to advance their career in risk management. You can study from anywhere in the world through supported distance learning, with options like online coaching and blended learning workshops for the International Certificate in Enterprise Risk Management.
The IRM are also excited to announce the launch of their new Level 4 - International Certificate in Operational Risk Management on the 18th of September.
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