Case Study of a Not-for-Profit Organization
Provincial Safety Authority
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The not-for-profit agency has leveraged its risk management capabilities to introduce a risk-based approach to the management of safety performance in the Province.
Risk Wise initiated the process for the agency to think about how it can target its resources and time effectively and efficiently at risks.
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Situation:
A provincial Ministry was about to create a not-for-profit agency to delegate administration of a piece of legislation which had previously been administered by the Ministry. Prior to transitioning from government to a not-for-profit organization, the Province wanted a comprehensive risk review to ensure that the newly created organization was able to: procure and assign resources in the regulated sectors; amend its operating practices and policy accordingly; and develop a comprehensive implementation plan for enterprise risk management (ERM).
What we did:
Risk Wise assembled a team with expertise covering risk modeling, inspection planning, enterprise risk management (ERM), governance, and best risk management practices within the provincial government. Risk Wise facilitated a series of workshops to provide selected personnel of the not-for-profit organization with risk management training and to engage them in the development of risk assessment models for the organization’s six technical inspection programs. Risk Wise worked with the organization to identify industry leaders in safety management and conducted a Best Practices review of risk-based approaches used to manage safety in other jurisdictions and sectors. The Risk Wise team conducted an analysis of gaps in the client organization's existing ERM practices and of gaps in its ability to implement risk-based safety performance management of the safety system to gain the enhanced efficiencies and effectiveness of risk control using a risk-based approach. Risk Wise developed a comprehensive 5-year plan for ERM implementation to gain the enhanced efficiencies and effectiveness of risk control using a risk-based approach.
Results:
The risk assessment review provided the provincial government with a basis for due diligence that their delegation of regulatory responsibilities to the not-for-profit organization would maintain and enhance public safety. The Best Practices review confirmed that the new not-for-profit agency was among leading safety agencies in creating a shift from a compliance mindset to one of safety performance management supported by risk-based approaches. The risk management training enhanced the awareness and risk management competencies of organization's executives and employees. The Risk Wise training and advice also enabled the agency to develop transparent and robust risk assessment models to optimize their inspection scheduling processes and manage their key performance and risk drivers. The not-for-profit organization received a roadmap outlining an achievable plan for implementing Enterprise Risk Management.
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