Departmental Risk Management
Enterprise Risk Management exists to analyze and assess risks at the campus level.
At the departmental level, it is the management's responsibility to create risk management procedures and plans. Risk management must accomplish at the department level the following tasks:
- Identify Concerns
- Identify risks and risk owners
- Evaluate the risks as to likelihood and consequences
- Assess the options for accommodating the risks
- Prioritize the risk management efforts
- Develop risk management plans
- Authorize the implementation of the risk management plans
- Track the risk management efforts and manage accordingly
It is very important to evaluate the risk factors in your office,even the smallest problem could have the greatest potential ramifications.