Develop operational plans and manage risks

This standard is about developing operational plans and managing risks within your organisation. You develop operational plans that are consistent with organisational values and strategy through collaboration with colleagues and stakeholders. You identify the resources required to deliver operational plans and communicate them to secure commitment. You specify risk management activities including defining risk criteria for your organisation. You also evaluate current and planning organisational activities to identify risks to produce a risk profile. The standard includes providing support to colleagues to integrate risk management into strategic and operational activities and evaluating how identified risks have been dealt with.

This standard is for all managers and leaders.

1. develop operational plans in collaboration with colleagues from your area of responsibility and other key stakeholders
2. develop operational plans that are consistent with organisational values and strategy and the specific objectives of your area of responsibility
3. identify synergies with other areas within the organisation when developing operational plans
4. compare innovative approaches and tried-and-tested solutions when developing plans
5. identify resource requirements and their availability both now and in the future
6. define indicators and methods for monitoring and evaluating the plans
7. communicate operational plans to secure colleague commitment and the support of other key stakeholders
8. review operational plans, in the light of changes to organisational strategy and the operating environment
9. specify risk management activities that take account of the size and nature of your organisation
10. develop your organisation's written risk management policy, including a statement of risk appetite and responsibilities for risk management
11. confirm that your organisation's risk management policy has management support and is clearly communicated across the organisation and to other stakeholders
12. define, and periodically review, risk criteria for your organisation, considering the views of relevant people across the organisation and stakeholders
13. evaluate current and planned organisational activities to identify potential risks, the nature of the risks, the probability of occurrence and consequences
14. produce a risk profile for your organisation and, taking account of your organisation's risk criteria and other relevant information
15. prioritise identified risks following your organisation's procedures
16. communicate risk information to colleagues and stakeholders to enable decisions and actions to be taken in terms of accepting or treating the risks
17. allocate resources to enable effective risk management
18. provide support for colleagues to integrate risk management into strategic and operational plans and activities
19. collect information about how identified risks have been or are being dealt with, including contingency plans which have been put in place
20. develop an organisational culture in which people are risk aware but are prepared to take acceptable risks and to make and learn from mistakes
21. seek specialist support on risk management issues, where necessary
22. maintain the risk management process in your organisation, identifying potential improvements and making changes where necessary
23. follow the legal, organisational, codes of practice and policies relevant to your role in developing operational plans and managing risks

General knowledge and understanding

1.      how to engage employees and stakeholders in operational planning

2.      the principles and methods of short to medium-term planning and how to develop and assign objectives which are Specific, Measurable, Achievable, Realistic and Time–bound (SMART)

3.      how to analyse and manage risks by contingency planning

4.      how to identify resource requirements and evaluate their availability and sustainability

5.      the relevant national and international standards in risk management

6.      the different types of risks and the factors which drive different types of risks

7.      the key stages in the risk management process, including developing a written risk management policy and what it should cover, risk management tools, techniques and indicators

8.      how to communicate the written risk management policy to colleagues and other relevant stakeholders

9.      what risk criteria might cover, including the importance of seeking and taking account of the views of colleagues and stakeholders

10.   the ways of identifying and clearly describing potential risks in relation to current and planned activities, the nature of the risks, the probability of occurrence and consequences

11.   the types of decisions and actions that might be taken in relation to identified risks

12.   why it is important and how to collect and evaluate information on how identified risks have been or are being dealt with, including contingency plans

13.   the ways of developing an organisational culture in which colleagues are risk aware but are prepared to take acceptable risks in undertaking activities

Industry and sector specific knowledge and understanding

14.   the legal, organisational, codes of practice and policies relevant to your role and the activities being carried out

15.   the current and potential competitors and collaborators in the sector, and their strategies and plans

16.   the typical risks encountered in the sectors in which your organisation operates

Context specific knowledge and understanding

17.   your organisation's operating environment, actual and potential customer base, opportunities and current and planned organisational activities

18.   the overall vision and values of your organisation and the objectives you are responsible for achieving

19.   the processes for engaging with employees within your organisation to determine their needs and expectations

20.   your organisation's culture in relation to risks criteria

21.   the key stakeholders with an interest in risk management in your organisation

22.   the written risk management policy and the risks criteria

23.   the current risk profile of your organisation, prioritised risks and the decisions and actions

24.   the identified potential risks, including any contingency plans in place

25.   the resources available across the organisation to support risk management

26.   the sources of specialist support on risk management

27.   the systems in place for monitoring and reviewing the effectiveness of the risk management processes in your organisation

1. Assessing
2. Building consensus
3. Communicating
4. Consulting
5. Contingency planning
6. Decision-making
7. Delegating
8. Evaluating
9. Influencing
10. Information management
11. Innovating
12. Involving others
13. Monitoring
14. Persuading
15. Planning
16. Presenting information
17. Prioritising
18. Reflecting
19. Reviewing
20. Risk management
21. Setting objectives
22. Scenario building
23. Thinking systematically
24. Thinking critically