Risk Management Overview

The Risk Management team seeks to work with partners across campus to set a framework for identifying, analyzing, and mitigating risk to an appropriate level while recognizing that risk-taking is inherent to the higher education experience.

Risk Management Process:

  • Identify the most significant risks arising from operations on an ongoing basis
  • Prioritize risks based on the likelihood of occurrence and potential impact
  • Implement strategies to mitigate the risks
  • Monitor effectiveness of risk management efforts

Risk Categories:

  • Life/Health/Safety
  • Strategic
  • Reputational
  • Financial
  • Operational

Risk Management Strategies:

  • Avoid the risk by discontinuing the activity or process that generates it
  • Accept the risk
  • Mitigate the risk and reduce the likelihood and impact of the risk
  • Share or transfer the ownership of the risk to a third party (insurance)

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