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A key contribution to the development of the LAC Business Plan has been the development of an Initial Corporate Risk Profile. The process leading to the creation of the Profile identified broad risk factors as well as uncertainties in the planning and operational environment to be assessed and managed on an ongoing basis. This led to the identification of eight key risks to the achievement of LAC's mandate and commitments. Five were deemed most significant due to their likely impact, their probability or both:
Government Agenda and New Projects
The risk of LAC experiencing difficulties in allocating, on one hand, the financial and human resources we must devote to governmental priorities and, on the other hand, the resources we must reserve for our activities, in accordance with our mandate, powers, duties and functions.
Preservation of Digital Documentary Heritage
The risk of LAC not being able to assume all our responsibilities in terms of the preservation and access to documentary heritage in electronic format, due to lack of the appropriate financial, human and technological resources, or a lack of trustworthy partners.
Long-term Accommodation Infrastructure
The risk of LAC not being up to assuming all our long-term responsibilities in terms of the preservation and access to documentary heritage under our care, due to a lack of appropriate infrastructure.
The risk of a lack of resources or budget to ensure LAC's core activities or the establishment of the necessary conditions to meet growing obligations.
Human Resources Availability and Skills
The risk of LAC not being able to ensure the transmission of our institutional knowledge to new generations of employees or not being able to recruit or renew our human capital with staff that have the appropriate knowledge and skills.
The Corporate Risk profile recognizes the interrelationships that require a horizontal view and solution. There is a commitment that business and operational plans, viewed through the lens of integrated risk management, recognize the risks, incorporate measures to avoid adverse consequences, and embrace opportunities for innovation. Our strategic planning process will drive the integration of risk management from priority setting to the resource allocation.