Understanding Risk Management

Risk management is the process of understanding and considering potential and perceived ricks associated with an organization activity, event, or service. Risk management includes monitoring the organization’s activities and taking corrective and proactive action to minimize injury, damage, and/or loss. It is important for your organization to think, develop a risk management plan and ensure all members adopt this plan.

Examples of High Risk Activities

  • Alcohol
  • Illegal drugs
  • Sexual abuse and harassment
  • Fire or other safety issues
  • Travel
  • Off-campus events
  • Behavior at parties and social events

Steps to Identifying Risk

  • Identify the risky behavior or activity.
  • Assess all outcomes (good and bad).
  • Identify ways to implement controls to eliminate or minimize risk.
  • Reassess activity considering all above factors.