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Strategic risks

 

Your operating environment has many strategic risks that may have a significant impact on your ability to operate and achieve your mission and objectives. These strategic risks may prevent you from capitalising on your strengths and opportunities, expose your weaknesses, and/or fail to address organisational threats.

Some examples of strategic risks that may impact you include:

  • Reduced water availability restricting current and predicted service levels
  • Variation in economic activity and growth impacting revenue streams, delivery of services and community demographics
  • Increasing community expectations on local government for addressing crime and anti-social behaviour
  • Impacts from Federal and/or State Government decisions, directives or political agendas
  • Changes in road infrastructure use impacting asset life cycle (e.g. new developments, congestion, rat runs, road trains v rail, emergence of driverless vehicles etc)
  • Changes in working relationships with key community, government and/or commercial stakeholders
  • Changes in legislative framework
  • Management of your rapidly evolving digital and social media presence

Many of these strategic risks present an additional challenge where you don’t have a direct ability to control or influence the uncertainty. We can assist you to understand these strategic risks and your ability to influence how you can either accept or treat them.

The strategic risk management process (pdf) should form an integral part of your strategic planning process. This integration should occur at the strategy formulation and the strategy implementation phases. We can assist you with how best to align these processes.

For more information please contact risk and governance services team on 08 9483 8888.

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