Risk management as an instrument for protecting assets at Nketoane Local Municipality in Free State Province / Izak Rasetapo Mofokeng

• Main Author: Mofokeng, Izak Rasetapo
• Language: en
• Published: North-West University 2014
• Online Access: http://hdl.handle.net/10394/10466

Local Governments are the closest sphere of government to the people and are the ones who render all different kinds of service to people on daily basis. The national sphere of government create the policies and legislations in regard to risk management for protection of assets and how the local government should render the service to community and most probably gives a mandate which services and responsibility rest on local sphere. The primary objective of this research is to investigate various kinds and sources of risks that local municipality and the community are exposed to, as well as the measures and methods available to manage these risks. Evaluation of risks report by municipality, ability of municipality to detect risks and community schedules of meeting for risks with accountable people is assessed. The research revealed that there are loopholes when it comes to Nketoane municipality to protect environmental, human, heritage, financial, organisational, customer and physical assets that are always exposed to daily risks. From the research it was evident that Nketoane Local Municipality normally fail to protect the above asset at the same time without compromising one of them. To ensure the implementation of effective risk management system, the municipality should adhere to policies created by national sphere, risk management framework should be developed by each municipality to assess, identify, mitigate, review, transfer and monitor risks where it is applicable on continuous basis. === M, Development and Management, Public Management and Administration, North-West University, Vaal Triangle Campus, 2012