RISK EXAMPLES - Definitions are from URMIA white paper Risk Examples: Strategic risks are Reputation Strategic plans those that involve Ethics Contractual relationships planning for the Changing demands of students Intellectual property university’s stability, Academic programs Strategic plans future growth and Competition for students, faculty and Branding and licensing advancement. Growth rapid or slowing – Infrastructure capacity and capital planning Centralized or decentralized management Operational are Integrating functional processes Up to date procedures those that result in the Systems implementations Facilities, construction and institution’s Changing technology management dependency on Regulatory compliance Purchasing and procurement system, policies, and Information technology Human subjects protection procedures. Contract process Animal care and protection Accounting functions Sponsored programs administration Emergency management Security management Environmental health and safety (Safety) typically insured in the HAZARD Risks – traditional insurance market: Workers Compensation Property Crime Auto Professional liability Liability Foreign liability Financial risks are Tuition and fees Endowment management most often the F&A rate General fund investments purview of the Conflicts of interest Cash flow university’s Interest rate volatility Funding sources comptroller, budgeting Internet and e-business and financial planning processes.
RISK EXAMPLES - Definitions are from URMIA white paper Risk Examples: Strategic risks are those that involve planning for the university’s stability, future growth and advancement. Reputation Ethics Changing demands of students Academic programs Competition for students, faculty and Growth – rapid or slowing Infrastructure capacity and capital planning Centralized or decentralized management Strategic plans Contractual relationships Intellectual property Strategic plans Branding and licensing Operational are those that result in the institution’s dependency on system, policies, and procedures. Integrating functional processes Systems implementations Changing technology Regulatory compliance Information technology Contract process Accounting functions Emergency management Security management Environmental health and safety (Safety) HAZARD Risks – typically insured in the traditional insurance market: Property Auto Liability Up to date procedures Facilities, construction and management Purchasing and procurement Human subjects protection Animal care and protection Sponsored programs administration Workers Compensation Crime Professional liability Foreign liability Financial risks are most often the purview of the university’s comptroller, budgeting and financial planning processes. Tuition and fees F&A rate Conflicts of interest Interest rate volatility Endowment management General fund investments Cash flow Funding sources Internet and e-business
Risk-Assessment-for-Departments-and-Programs.docx