ADB’s policy on risk assessment and risk management should be reviewed to allow for a consistent approach within projects, programs, or even across subprograms. Risk assessment is often carried out by considering a matrix of likelihood and consequential severity to define the level of risk (individually and overall) before and after the controls or mitigation strategies are in place. The PCR template should also allow for discussion on risk to explicitly consider whether the risk mitigation strategies had been successful. The PCR and PVR templates should also be reviewed to ensure consistency. At present, the PVR template Part II Section C shows Efficiency of resource use, while the PCR shows Efficiency of achieving outcomes and outputs.
Strengthened Fiscal Sustainability Program