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The development of an "Initial Corporate Risk Profile" for LAC involved the identification of broad risk factors as well as uncertainties in the planning and operational environment that have to be addressed. Five of the eight key risks to the achievement of LAC's mandate and commitments identified were deemed particularly significant due to their likely impact, their probability, or both:
Key Risk: Preservation of digital and analog documentary heritage
The risk, for LAC, of not being able to assume all of its responsibilities in terms of the preservation and access to documentary heritage in digital and analog format, due to lack of the appropriate financial, human and technological resources, or a lack of appropriate partners.
Key Risk: Long-term accommodation and technological infrastructure
The risk, for LAC, of not being able to assume all of its long-term responsibilities in terms of the preservation and access to documentary heritage under its care, due to a lack of appropriate physical and technological infrastructure.
Key Risk: Financial Sustainability
The risk, for LAC, of a lack of resources or budget to ensure its core activities or the establishment of the necessary conditions to meet its growing obligations.
Key Risk: Availability and competency of human resources
The risk, for LAC, of not being able ensure the transmission of its institutional knowledge to its new generations of employees or not being able to recruit or renew its human capital with staff that have the appropriate knowledge and skills.
Key Risk: Government-wide Initiatives
The risk for LAC is, on one hand, allocating the financial and human resources it must devote to government-wide initiatives and, on the other hand, allocating the resources it must reserve for its activities, in accordance with its mandate and delegated authorities.
It is vital that we present our rich collection in ways that will allow it to be better used by Canadians of all ages as they learn.