Social Security Administering Body for the Health Sector
Asia and Pacific

Improvement of risk profile reliability as basis for formulating organizational strategic risks and risk-based budgeting

Implementation year

Organisations may face conditions that create uncertainty in attempts to achieve their goals. Risk management is one of the best ways to obtain certainty from an existing phenomenon. An organisation prepares a measurable risk strategy to be implemented by all units in accordance with the principles of good governance. The strategy is to use an operational framework as a reference for work units in managing risk.

A strategic plan without identifying a risk management plan will lead to the possibility of unavoidable failure. Besides, a silo risk management (without considering needs for strategic planning) can result in critical risks unidentified effectively.

The risk profile formulation is a critical part to ensure risk management carried out effectively and on target. With an adequate risk profile, organisational performance, work plans and budgets can be managed effectively. It is necessary to optimise risk management to achieve organisation targets.

Governance and administration