Service Description: The Business Effectiveness Unit was formed in 2011 to bring together a number of corporate business management functions across the authority. The team brings leads on a range of disciplines and actively supports services in their application of Business Intelligence, Performance Management, Programme and Project Management, Risk Management, Value for Money, Business Planning and Data Quality. In addition, the unit provides reporting at a strategic level to Members and senior management in respect of the corporate priorities as set out in the Corporate Plan. The management of the council's internal audit contract is also managed from the unit.
Also known as:- Audit, BEU, Business Intelligence, Business Planning (Internal), Corporate Plan, CorVu, Data Quality, Internal Audit, JCAD, LAA, Local Area Agreement, Performance Management, Programme Management, Project Assurance, Project Management, Research, Risk Management, Service Planning, Statistical Analysis, Team Planning, Value for Money, VFM
Answer: Risk is the potential for an event and its consequences to constitute an opportunity for benefit (upside) or a threat to success (downside) in terms of an organisation's ability to achieve its objectives and execute its policies. Risk management is the process by which risks and opportunities are identified, evaluated, mitigated down to the lowest acceptable level and reviewed.