Risk Management Policy
Purpose
Smart Web Agency Limited is committed to identifying, assessing and managing risks that may affect our employees, clients, suppliers, operations, projects, information systems and reputation.
This policy establishes a consistent approach to risk management, helping ensure the successful delivery of services whilst protecting the interests of our clients and stakeholders.
Scope
This policy applies to all employees, contractors, suppliers and business activities undertaken by Smart Web Agency Limited.
Risk Management Principles
Smart Web Agency will:
- Identify risks at the earliest possible stage.
- Assess the likelihood and potential impact of identified risks.
- Implement appropriate mitigation measures to reduce risk exposure.
- Monitor risks throughout the lifecycle of projects and operational activities.
- Maintain risk registers for significant projects and business operations.
- Review risks regularly and update mitigation plans where necessary.
- Escalate significant risks to senior management where appropriate.
Risk Assessment Process
The following process is used to manage risks:
1. Risk Identification
Potential risks are identified through:
- Project planning activities
- Stakeholder workshops
- Internal reviews
- Client feedback
- Security assessments
- Business continuity reviews
- Supplier evaluations
- Regulatory and legal changes
2. Risk Assessment
Each risk is assessed based on:
- Likelihood of occurrence
- Potential business impact
- Financial implications
- Operational disruption
- Reputational impact
- Information security considerations
3. Risk Mitigation
Appropriate actions are defined to reduce, transfer, avoid or accept risks depending on their severity and likelihood.
Examples include:
- Additional testing and quality assurance
- Security controls and monitoring
- Staff training
- Backup and disaster recovery procedures
- Alternative supplier arrangements
- Enhanced project governance
4. Monitoring and Review
Risks are reviewed throughout the duration of projects and during routine operational reviews. New risks are added to the risk register as they emerge, and mitigation actions are tracked until completion.
Project Risk Registers
For significant client projects, Smart Web Agency maintains a project risk register which records:
- Risk description
- Risk owner
- Impact assessment
- Likelihood assessment
- Mitigation actions
- Review dates
- Current status
Project risk registers form part of our project governance process and are reviewed regularly throughout project delivery.
Roles and Responsibilities
Directors
Responsible for ensuring effective risk management processes are implemented across the business.
Project Managers
Responsible for maintaining project risk registers, monitoring project risks and ensuring mitigation actions are completed.
Employees and Contractors
Responsible for reporting risks, incidents and concerns that may affect the business, clients or project delivery.
Business Continuity
Risk management forms part of Smart Web Agency's wider Business Continuity and Information Security framework. Risks relating to cyber security, data protection, operational resilience and supplier dependency are reviewed regularly.
Policy Review
This policy will be reviewed annually or sooner if significant changes occur within the business, regulatory environment or operational activities.
Policy Owner: Director
Version: 1.0
Last Reviewed: June 2026
Next Review Date: June 2027