Higher ed institutions seeking to manage risk holistically too frequently stumble when moving from vision to execution, whether distracted by one-off incident response obligations or overwhelmed by the sheer magnitude of the effort.
Our latest study breaks down the monolithic challenge of risk management, providing clear plans for rapid-response situations and implementation guidance for foundational enterprise risk capabilities.
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A top expectation for chief business officers
College and university stakeholders—trustees, funders, students, parents, community members, legislators, alumni—are holding their institutions to high standards, even as their complex enterprises experience more and more risks. Enterprise Risk Management, or ERM, is an intentional approach to managing an organization’s remediation of risks, although higher education’s distributed governance can render the risk identification process burdensome. Campus leaders also struggle to capture stakeholders’ focus because of repeated incident response episodes that distract from holistic risk management.
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Assessing and Managing Institutional Risk