Kevin Rooney attacked and killed 74-year-old Rosina Sutherland in her Edinburgh home on October 30 2011. Rooney, who had 33 previous convictions was on bail at the time. He is serving a life sentence for the killing.
The report concluded a lack of stable accommodation may have raised the risk of him reoffending, with Rooney having lived at 21 different addresses in the year before the killing.
In the wake of the incident, a significant case review was commissioned by City of Edinburgh Council's Edinburgh Offender Management Committee which Mrs Sutherland's family contributed to.
The report recognised the extensive multi-agency work that was undertaken in an attempt to manage Rooney and made 13 recommendations for the agencies involved in his management. It said the efforts had been reasonably effective.
These recommendations were accepted in full and new practices and processes have been implemented.
In a statement, Police Scotland said the various agencies involved in managing high-risk sex offenders remained committed to keep communities safe.
It added that Mrs Sutherland's death was a devastating loss. The force said: "The chairperson of the commissioning body that initially instigated the SCR [significant case review] met with Mrs Sutherland's family following its completion, shared the findings and has answered all their subsequent questions."