Risk Management Policy
As the University strives to meet its Corporate Strategy objectives, the risks and uncertainties created by the current economic climate present an exciting and challenging dynamic.
Uncertainty and change can stimulate creativity and, when considered thoroughly, can give us the assurance to introduce new, more innovative and effective ways of delivering world class teaching and research with real life application. It will be essential to grasp opportunities to meet the needs of the changing global economy and work with our students, staff and partners to manage the uncertainties ahead.
The University views the taking of risk as an essential part of the business of higher education, in its management of core research and teaching activities as well as its supporting activities.
This Policy and Plan underlines the University’s commitment to using its Risk Management arrangements to:
- support the achievement of the University's Corporate Strategy;
- support strategic planning activities and other decision-making processes;
- encourage innovation, creativity and change;
- highlight areas where improvements are necessary.
A key role of the Board of Governors and its Committees is to support the University’s Executive Management in managing key areas of risk and ensuring appropriate action plans are in place to address these.
It is essential that all staff and students play a part in managing risk. The University's risk management arrangements should enable everyone to contribute in a way that supports the delivery of the Corporate Strategy objectives.
May 2011
