Business Risk Management System Template
General Practice Business Risk Management System
This template serves as a guide only. You can add or remove information to fit your practice’s specific policies, procedures, and context.
Purpose and Responsibility
This Business Risk Management System outlines the approach for identifying, monitoring, mitigating, and documenting risks within the practice. The responsibility for implementing and maintaining the system lies with the designated Risk Manager or equivalent role.
Potential Risks to Consider
- Operational Risks: Fire, flood, power failure, theft, IT failure, data loss, equipment disruption, vandalism.
- Staffing Risks: Loss of key staff, human error, inadequate training, low morale, recruitment issues.
- Financial Risks: Insufficient patients, increased expenses, negative cash flow, interest rate fluctuations.
- Reputation and Compliance Risks: Negative publicity, breach of regulations, patient mismanagement.
- Safety and Emergency Risks: Workplace accidents, workplace violence, pandemic response issues.
Risk Identification Methods
The following tools are used to identify risks:
- Checklists and surveys
- Flow charts
- Incident analysis and audits
- Brainstorming sessions
- Third-party reports
- Patient and staff feedback
- Performance reviews
Risk Identification Checklist
Date:
Time:
Inspected by:
Signature:
| Core Safety | Yes | No | Details/Observations | Action to Be Taken |
| Fire safety | ||||
| Emergency evacuation protocols | ||||
| First aid measures | ||||
| Communication boards | ||||
| Electrical safety | ||||
| Material handling and storage |
Risk Assessment
Risk assessments consider both the likelihood of an event and its potential consequences.
Factors Influencing Likelihood:
- Frequency of similar past events
- Working conditions and current procedures
- Staff expertise and morale
Factors Influencing Consequences:
- Impact severity (from minor inconvenience to critical operational failure)
- Financial implications
- Patient safety considerations
Risk Level Matrix
| Likelihood/Impact | Extreme | Major | Moderate | Minor |
| Very likely | 1 | 2 | 3 | 4 |
| Likely | 2 | 3 | 4 | 5 |
| Unlikely | 3 | 4 | 5 | 6 |
| Very unlikely | 4 | 5 | 6 | 7 |
Risk Management Actions
| Risk Level | Recommended Action |
| 1, 2, 3 | Immediate senior management intervention is required |
| 4, 5 | Address as soon as practical; do not ignore |
| 6, 7 | Manage through lower-level risk control measures |
Risk Register
| Risk Area | Risk Description | Risk Level | Actions Taken |
| Example: Operations | Equipment failure | 3 | Maintenance contract update |
Risk Management Strategies
The following actions may be taken to manage risks:
- Eliminate or avoid the risk where possible
- Accept and monitor the risk
- Reduce the likelihood or impact of the risk
- Transfer the risk (e.g., through insurance)
Monitoring and Review:
- Maintain incident reports and a register of near-misses
- Regularly review the risk register
- Record adverse events and evaluate mitigation measures
Communication:
- Discuss risk strategies in team meetings
- Collect and implement feedback
- Record discussions for transparency
Evaluation of Outcomes:
- Assess if the risk control measures achieve the desired results
- Determine the sustainability of improvements
- Review whether additional actions are needed
Risk Management Action Plan
| Risk Description | Corrective Action | Follow-Up Required? | Follow-Up Date | Completion Date |
| Example: Missing evacuation map | Display evacuation map in key areas | Yes | 02/01/2025 | 10/01/2025 |
Risk Register Structure
The risk register includes the following columns for tracking and managing identified risks:
| Date Raised | Business Risk Description | Likelihood | Impact | Severity Rating | Risk Owner | Mitigation Actions | Corrective Actions | Progress | Status | Resources |
| [enter date] | Retiring GP | High | High | High | Practice Manager | Unavoidable | Revise job description, review contract templates | Job description updated, contract template updated | Open | – |
| [enter date] | GP leaving the practice | Medium | High | High | Practice Manager | Check all contracts | Revise job description, review contract templates | Job description updated, contract template updated | Open | – |
| [enter date] | Theft of materials or IP | Medium | High | High | Practice Manager | Follow security protocols | Notify authorities (e.g., police), begin investigations | Security certificates confirmed | Open | – |
| [enter date] | Acts of God (extreme weather, etc.) | Medium | High | High | Practice Manager | Ensure insurance coverage, familiarise staff with emergency plans | Notify authorities, follow health and safety procedures | Public liability insurance confirmed | Open | Use insurance tools |
Key Points in the Risk Management System
Mitigation and Corrective Measures
- Ensure detailed records for each risk, outlining both preventive measures and actions to take if the risk materialises.
- Use job description revisions and contract checks as examples of administrative controls.
Progress Tracking
- Regularly update the status of actions (open, in progress, closed).
- Include notes on steps completed, e.g., “Security certificates confirmed for contractors.”
Practical Use of Resources
- Reference available resources, such as public liability insurance policies, to guide effective responses.