Risk Assessment

Every organization should ask these question now and than to make sure they understand the potential risk they face in running business on day to day basis

Risk Assessment Questionnaire

1. What is the Mission/Purpose of the unit? What are its principal goals and
objectives?

2. What is of most concern to you regarding the attainment of the unit’s goals and
objectives?

3. For each of the unit’s principal goals and objectives, identify events or circumstances
that may interfere with or prevent its achievement. Consider:
a) Have there been changes in external factors such as laws and regulations?
b) Have the terms of contracts changed? Are contracts up for renewal? If a
contract is not renewed, is a contingency plan required, and if so, is there one?
c) Have there been changes in key personnel during the past year?
d) Has there been high staff turnover in the past few years?
e) Is staff well trained?
f) Are the unit’s business processes simple and routine or complex and nonroutine?
g) Are procedures and processes documented, i.e., procedure manuals?
h) Have other units in other organizations failed to accomplish similar objectives?
Why?
i) Have there been changes in information systems in the past year?
j) Has the unit taken on new activities? Has there been internal restructuring?
k) Does the unit have a contingency plan if there were a major disruption in
provision of services, e.g., all staff on leave of absence, information systems
crash, permanent loss of facilities or key personnel, all paper records destroyed?

4. What risks have increased or decreased during the past year? Why?