RISK MANAGEMENT AT INTERNATIONAL SCHOOLS HEMANT DUTIA BUSINESS

RISK MANAGEMENT AT INTERNATIONAL SCHOOLS HEMANT DUTIA BUSINESS MANAGER THE AMERICAN INTERNATIONAL SCHOOL OF MUSCAT (TAISM)

Agenda § § § § Learning objectives Why conduct risk assessment? Risk analysis strategy Ratings scales Risk levels & control measures Risk assessment matrix Managing risk Summary and take-home messages

Learning Objectives § Understand risk, risk-based decisions and risk analysis § Identify risk analysis tools and resources to help you make risk-based decisions § Learn to apply knowledge to manage risk at your institution

Why Conduct Risk Assessment? § Protect the long-term existence of the institution § Protect the students, employees, administration, Board of Trustees, and volunteers

Risks to Consider § § § § Transportation Food & cafeteria services Child safety Field trips Political environment Economic environment Currency devaluation

Risk Analysis Strategy § Risk (definition): Physical injury, damage to health, damage to property, damage to environment, financial damage § Measure of Risk = (Severity of harm) x (Frequency of harm) § Determine risk acceptability § Mitigate Risk: Reduce unacceptable risks to acceptable levels

Rating Scales: Severity and Occurrence Severity Rating Impact Occurren Frequenc ce Rating y 1 None / insignificant 1 Remote (Not likely) 2 Minor 2 Slight (Very low) 3 Major 3 Moderate (Occasional) 4 Serious 4 Very Likely (Moderate) 5 Hazardous 5 Almost Certain (Regular)

Risk Levels & Control Measures ■ Low Risk – Broadly acceptable risk ■ Medium Risk – Additional risk control is desirable ■ High Risk – Additional risk control is mandatory O – 5 O – 4 O – 3 O – 2 O – 1 5 10 15 20 25 4 8 12 16 20 3 6 9 12 15 2 4 6 8 10 1 2 3 4 5 S – 1 S – 2 S – 3 S – 4 S – 5

Risk Assessment Matrix Example: Infrastructure & Network Category Infrastructure Network Situation Building damage (unsound structure, weather) Server destroyed (loss of data) Sev. Occ. Risk Mitigation Comply with building code New Occ. New Risk Manager 1 4 Operations 4 2 8 Regular building maintenance 1 4 Operations 3 2 6 Regular backup data 1 3 IT 3 2 6 Maintain cloud storage capacity 1 3 IT 3 2 6 Use multiple servers 1 3 IT

Risk Assessment Matrix Example: School Buses Category School buses Situation Accident (loss of student lives) Sev. Occ. Ris k Mitigation New Occ. Ne w Ris k Risk Manager 1 5 Security & Safety 5 2 10 Regularly service buses 5 2 10 Use speed governors 1 5 Security & Safety 5 2 10 Enforce strict seatbelt policy 1 5 Security & Safety 5 2 10 Maintain driver license records 1 5 Security & Safety 5 2 10 Regular training for drivers/monitors 1 5 Security & Safety Maintain insurance

Managing Risk § Use risk assessment matrix as appropriate § Document thoroughly § Review periodically § Management has final responsibility in making risk-based decisions

Summary and Take-Home Messages § What risks do you see in your institution and departments? § Who are the risk managers? § How often do you need to review your risk matrix? § Schedule regular review with the relevant Board committee § Provide regularly scheduled updates to the Board of Directors

Questions?