RISKCOVER

Strategic Risks

Strategic risks are the high level, long-term risks which impact upon the direction and strategies of an agency. They will be identified through analysis of environmental factors, stakeholder expectations and strategy development/implementation.

Strategic Risk Management is the identification and management of risks likely to have a material impact on an agency's ability to achieve its mission and objectives.

The risks will be identified and evaluated as an integral part of the strategic planning process and will be risks that should be addressed in setting an agency's direction. In this context an agency will identify risks that will:

  • prevent the agency from exploiting its opportunities and strengths;
  • expose its weaknesses and threats.
Diagram illustrating examples of Strategic risks