5 Boroughs Partnership NHS Foundation Trust Annual ... - Monitor

Our Risk Management
Our Risk Management Policy sets out the overall aims and objectives for risk
management across the Trust. These are delivered through an annual work
plan set against each of the objectives. The Risk Management Policy
describes a clear structured and systematic approach to the management of
risk across organisational, financial and clinical activities.
Our Risk Management Policy sets out both the collective responsibilities of the
Trust Board and its Committees, and the individual responsibilities of the Chief
Executive, Directors and all levels of staff across the Trust. The Trust Audit
Committee seeks assurance that the risk management process is
comprehensive, effective, complies with regulatory requirements and is fit for
purpose by taking independent objective advice through the appointment of
internal auditors. It also approves the Annual Governance Statement.
Risk Management Policy
The overall aim of the Risk Management Policy is to ensure that high-quality
healthcare services are delivered with the safety, health and well-being of
services users, carers and staff at the forefront of everything we do and to
provide assurance through clear reporting structures that the Risk
Management System across the Trust is embedded and effective.
The Trust is committed to ensuring the safety of service users, staff and the
public through an integrated approach to managing risk - whether financial,
organisational or clinical - within systems that are open and transparent, and
demonstrate sound governance.
The Risk Management Work Plan is approved by the Trust Executive Team
annually and is supported by the Risk Management Policy and Incident
Management Policy, which set out the framework and methodology for
effective risk and incident management across the Trust.
Risk Management Process
In pursuit of implementing effective risk management the Trust Risk
Management Policy has adopted the overarching process for managing all
risk within a single framework. The Risk Management Policy details the
framework for identification, evaluation, analysis, treatment, control,
monitoring and review of risks within a single Trust-wide Risk Register.
The risk management process begins with the identification of risks
throughout the Trust. Risks are identified through a number of sources
including risk assessment, audit, incidents, complaints, safety alerts, external
reviews and inspection, emerging financial and environmental risks and
compliance with statutory and regulatory requirements.
Risks are evaluated and prioritised using a qualitative approach where the risk
levels (Consequence and Likelihood) are estimated. This provides an
estimate of where the most serious overall risks lie and assists both the
Annual Report and Annual Accounts 2011-12 21