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Risk management policy9/21/2023 ![]() Risk management includes the risk assessment process, and uses the results of risk assessments to make informed decisions on the acceptance of risks or on taking action to reduce those risks. The evaluation is based upon known or theoretical vulnerabilities and threats, as well as the likelihood of the threats being realized and the potential impact to the University and its stakeholders.Ī continual process of analyzing and responding to risks to the University in order to reduce those risks to acceptable levels. The potential of harm to the University or its stakeholders, including but not limited to physical risks, property risks, and risk of criminal conduct and other noncompliance.Īn evaluation of the nature and magnitude of risk to the University. Program management and oversight is a University-wide responsibility that calls for the active involvement of executive leadership, departmental management, data stewards, and others involved in decision-making concerning risks. This policy establishes the framework for a formal risk management program by designating responsibility for risk identification and analysis, planning for risk mitigation, and outlining program management and oversight. The purpose of this policy is to ensure that risks to Maryville University (“the University”) are identified, considered, and managed in order to support effective operation of the University as an educational institution. ![]()
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