Good risk management should not only avoid negative events but also improve decision making and enable your organisation to seize opportunities and innovate. A systematic approach to risk management can help to achieve your mission more effectively by identifying and addressing potential obstacles and uncertainties. Conversely, charities that have had poor risk management have experienced an impact on their reputation, finances and operations.
Categories of risk can include: governance, external, regulation and compliance, operational and financial. Financial risk might cover losing funding, not finding enough funding to carry out key projects, financial processes not being adequate, fraud, loss of key staff and cyber crime.
Guidance on risk management