Risk Management

All organisations face a range of risks that can affect strategic initiatives, operational activities, processes and projects.  All the activities of an organisation involve risks or uncertainty – risk is an integral part of these activities and without risk there would be no reward.  Risk is inherent in all University activities be they academic, administrative or commercial in nature, so we are all, whether we are aware of it or not, dealing with these risks and making decisions about them every day.

Formal Risk Management is a systematic process concerned with identifying, analysing, evaluating and treating the uncertainty associated with any activity, process, function, product, project, service or asset.  It also includes monitoring and reviewing identified uncertainties and recording, reporting and communicating results.  Through these processes Risk Management aids decision making by taking account of uncertainty and the affect this may have on achieving the University’s objectives.  Effective Risk Management is not an extra or an add-on, but rather a hallmark of good management and quality decision-making.

Risk Management is not about eliminating risk, it’s about managing it.  It’s about knowing what the risks are and making decisions with our eyes wide open.  It’s about maximising opportunities and dealing with uncertainties. 

The University has adopted a systematic approach to managing risk with the aim and intention of fully embedding an effective Risk Management culture throughout the organisation.  All University staff are recognised as having a significant role in the management of risk.

For details in relation to the University's risk management framework please contact Dan Hutchens on 6488 1983. 

Click here to download our risk management policy.