Risk Appetite

In 2014, QAGOMA launched a new four-year strategic plan, underpinned by its aspirational mission to 'engage people with art and artists through memorable and transformative experiences onsite and online'. Like many museum mission statements, it requires a robust engagement with risk and a sound understanding of what success looks like, in order to be achieved. This presentation will unpack the relationship between risk appetite and strategy, and why, together, these concepts can help people across the institution make informed decisions with particular relevance to digital projects. Risk appetite is a concept employed across many different sectors to measure and communicate an organisation/department/team’s tolerance for risk. Examples from QAGOMA and across the sector will be used to understand why employing risk appetite in strategic and everyday decisions is essential to the human-centred museum. In isolation, risk appetite is futile, however, in concert with the strategic planning process, it can forecast the impact of decisions across the museum, and uncover new business models. Speaker(s) Session Leader : Rosemary Willink, Principal Project Officer (Governance and Reporting), QAGOMA MCN 2016 Presenting Sponsor: Piction New Orleans, LA