A Practical Approach to Institutional Risk Management

Getting Risk Right in an Era of Constrained Administrative Resources

Topics: Faculty Affairs, Academic Affairs, Globalization, Facilities and Operations, Administration and Finance, Human Resources, Budgeting, Risk Management, Revenue Enhancement, Cost Savings, Third Party Partnerships, Legal and Compliance, Information Technology, University Systems and Governance, Organizational Structures, Assessment, Strategic Planning

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Executive Summary

Facing the dual pressures of an increasing institutional risk profile (due especially to rising entrepreneurial and international activities) and growing interest from Board members in enterprise-wide risk management, many CBOs are asking whether their campuses have an adequate infrastructure to meet the challenges of risk management on the modern college campus. At precisely the same time, however, most campuses are still recovering from years of administrative cuts or freezes, rendering this a most inopportune time to launch an initiative requiring the significant time and financial resources of the traditional “ERM” process.

Based on 120+ interviews with institutions and experts, the Forum’s study on A Practical Approach to Institutional Risk Management includes leading practices from across higher education and the private sector that have demonstrated realistic and effective results in managing risk. Accompanying these practices is a library of tools and resources collected during our research, including risk management governance models, sample risk registers, risk assessment worksheets, and communication templates for the Board and campus.

The Risk Management Imperative