Risk management refers to the process of identifying possible harms that might occur during the course of your ministry; then, reducing or preventing the likelihood of that harm occurring or how severe the consequence would be if it did occur.
Common risks that should be considered include damage to the physical property, physical injury, psychological harm (such as bullying, burnout or sexual harassment), loss of income, and loss of reputation in the community.
Your church should complete a risk assessment for each recurring ministry (such as a worship service, or a Bible study), and for each once-off event (such as community Christmas carols, annual church camp).
Baptist Insurance has many fantastic samples and templates specifically created for churches. Baptist Insurance also offers free Work health and Safety (WHS) online training.