Risk management is 'the coordinated activities to direct an organisation with regards to risk'.
The University has adopted a risk policy and framework to implement the risk management process as described in the following diagram:
AS/NZS ISO 31000 Risk Management Process
The Risk Team is responsible for:
- Continuous improvement of the University's Risk Management appraoch,
- Ensuring the implementation of risk management through training, workshops and providing assistance when required
- Assisting University staff conduct risk assessments where necessary
2011-12 will see the implement of the Risk Management System that will be improve the University's ability to record, track and report on risks in the University risk register. The upgrade will include working with a number of stakeholder groups within the University to also use the system to manage their risk profiles.