Risk Management
What do we mean when we talk about
risk?
Risk is anything defined as the “threat that an action
or event will adversely affect an organization’s ability to
achieve its objectives”.
Risk management is not necessarily a process to avoid risk,
but rather it can allow an institution to take on activities which
may pose a higher threat to them. Since the risks have been
identified, and are being managed, the residual risk to the
organization is lower.
Enterprise Risk Management is responsible for analyzing the
risks of the University as a whole unit. Within each unit of the
university the department has the responsibility to manage its
risks accordingly. If a department has risk management problems,
ERM is here to provide guidance and help with any problems
encountered.