The Risk Management Toolkit for Public Power Utilities offers utility leaders guidance and tools to help them in proactively identifying and assessing risks, developing tailored risk management strategies, and effectively communicating risk information to leadership and stakeholders. The toolkit also includes practices for continuously monitoring and adjusting risk management efforts to adapt to changing conditions. By leveraging this toolkit, utilities can build resilience, ensure sustainable operations, and make informed decisions in the face of evolving risks.
The toolkit consists of three volumes: Risk Identification, Risk Assessment, and Risk Mitigation and Communication.
Volume I: Risk Identification
Volume I of the toolkit is designed to support public power utilities in their path to establishing an enterprise risk management, or ERM, program. This volume serves as the foundational step in helping utility leaders in building an ERM framework tailored for their unique needs and challenges, and includes:
- Definitions of types of risk
- Common roles in ERM programs
- Guidance for conducting risk identification workshops
- How to create a risk register
Downloads for Volume I
- Volume I: Risk Identification
- Attachment 1: ERM Proposal PowerPoint Template
- Attachment 2: Risk Identification Workshop Guide
- Attachment 3: Risk Identification Workshop PowerPoint Template
- Attachment 4: Risk Register Excel Template
To learn more, watch the recording of our one-hour webinar, Risk Management Toolkit: Volume I (December 5, 2024).
Volume II: Risk Assessment
Volume II of the toolkit offers guidance for public power utilities in assessing and prioritizing risks as they continue to establish their ERM program. This volume builds upon the foundational knowledge gained in Volume I, and includes:
- Developing risk assessment criteria
- Detail of the risk scoring process
- Guidance for evaluating risk based on likelihood and impact
- Assessing risk tolerance and prioritizing mitigations
Downloads for Volume II
- Volume II: Risk Assessment
- Attachment II.1: Risk Assessment Workshop Guide
- Attachment II.2: Risk Assessment Workshop PowerPoint Template
- Attachment II.3: Risk Tolerance and Risk Limit PowerPoint Presentation Template
- Attachment II.4: Risk Register Excel Template
Volume III: Risk Mitigation and Communication
Volume III provides strategies for mitigating the risks identified in Volumes I and II, plus guidance on effectively communicating about your risk management efforts to leadership and other stakeholders. This includes:
- Prioritizing risks and selecting the appropriate risk treatment for each risk
- Establishing Key Risk Indicators and developing a mitigation plan
- Outlining a plan for communicating about the ERM program to key audiences
- Sample messages for communicating about risk management
Downloads for Volume III
- Volume III: Risk Mitigation and Communication
- Attachment III.1: ERM Prioritized Risks & Action Plans Briefing PowerPoint Template
- Attachment III.2: Enterprise Risk Management Communications Plan for Public Power Utilities
- Attachment III.3: Senior Leadership ERM Briefing PowerPoint Template
- Attachment III.4: Stakeholder ERM Risk Briefing PowerPoint Template