Risk Management Guidelines
A Guideline to Managing School Risks in Ontario
The primary purpose of this document is to provide a template to assist individual school board risk managers in developing a risk management program that is tailored to their specific school board risk profile to address insurance risk issues. This document is not intended to be the risk management program itself, but rather, to serve as a guide on how to manage operational risks for school boards who are members of the OSBIE program.
The ultimate goal is to have the risk management process embedded into all aspects of the school board operations. This ensures that risk management is part of the decision process at all levels of the school board.
- David Beal, Director of Risk Management (January, 2008)
Risk Management Process
Risk Management is the process of planning, organizing, leading and controlling the activities of an organization in order to minimize the occurrence and impact of losses. It consists of five distinct steps:
- Identify and Analyze Loss Exposures
- Identify Risk Management Strategies
- Select Appropriate Risk Management Strategies
- Implement Selected Strategies
- Monitor Results
Once these five steps are understood and implemented, then the risk management process is in place for that particular activity. Because Risk Management is a management process, it can be applied to any aspect of a school operation, and, because it is not a one-time event, must be practiced on an on-going basis.
Implementing the Risk Management process into any aspect of the school operation will not generate instant results. Often, it takes several years for the process to show a reduction in losses, and may regress to higher loss levels for isolated periods. However, it is the long term impact of lowering the loss profile either for a specific activity or for an entire school board that will result in fewer losses overall.