Based on the observations and results of high impact risks suggestions are provided. The budget plan should …show more content…
Teagle admitted, they do not have a risk management plan. The first course of action would be to conduct a team meeting with the management team and the CCPL director to discuss creating a risk management plan now that all risk have been identified. As Ms. Teagle suggested reaching out to a risk management consultant can help them prepare one. Thereafter, management should meet with entire team post the development of the risk management plan for further understanding and clarification of tools, processes techniques and expectations.
Secondly, increase the frequency of training courses from every five years to annually. The training should not only include compliance related topics but also risk exposures. This will be more impactful and valuable to the staff and management to have an active control of risk. Moreover, this will ensure the team members and managers are abreast of the myriad risks public libraries are exposed to. Furthermore, learn different methods to eliminate or reduce risks immediately.
Lastly, update or create new policy and procedures as they relate to identified risks. Policy and procedures should be reviewed periodically and revised when necessary. Delegate tasks to staff members therefore they have a shared responsibility in keeping the risk management active and ongoing. Everyone's responsibility should be clearly stated at the beginning of delegating