Risk Management is the culture, processes and structures that are directed towards the effective management of potential opportunities and adverse effects within the Corporate Environment.

Risk is inherent in all administrative and business activities. Every member of the Organisation community continuously manages risk. Formal and systematic approaches to managing risk have evolved and they are now regarded as good management practice. As a consequence we acknowledge that the adoption of a strategic and formal approach to risk management will improve decision – making, enhance outcomes and accountability.

The aim of this policy is not to eliminate risk, rather to manage the risks involved in all Corporate activities to maximise opportunities and minimize adversity. Effective risk management requires:
A strategic focus, Forward thinking and active approaches to management, Balance between the cost of managing risk and the anticipated benefits, and Contingency planning in the event that critical threats are recognised.

Risk management also provides a system for the setting of priorities when there are competing demands on limited resources.