Risk Management Basics
World of Risk (Internally and Externally Driven) Everyone Manages Risk
Loss of Funding
Changes in Student Needs
Risk Assessment Basics and Processes.
- Create a Summary List of Event Activities to run through the RM Analysis Process. Also include what are the benefits of having this event.
- Identify and Analyze exposures to Loss
- List of what are potential risks for this event – what could go wrong.
- Examine risk management tools to handle exposure
- List what can be done to make each exposure least risky and still hold event.
- Select the appropriate tool: accept all risk, limit the acceptance, transfer to other, avoid it
- Accept all risk for the event
- Accept some of the risk for the event. (Identify those activities and risks)
- Transfer the risk to other via indemnification language in contract/agreement, releases or waivers, certificates of insurance with additional insured restriction, etc.
- Avoid the risk by not doing that activity
- Implement the chosen tool
- Choose and Communicate what the tool means and what measures to take to ensure it is in place, e.g., contract language, release/waiver, certificates of insurance with additional insured process.
- Monitor the results of the choice
- Monitor Results
- Make Changes to Implement for next event
Check List Risk Assessment Process: Identify, Analyze(assess), Select, Implement and Monitor. (downloadable )
Event Risk Management Analysis Questionnaire with Contact Resources (if you are planning an event to be held on campus and not sure how to start--start by filling out this questionnaire.)
Contract Basics: Many events require contracts; here is a resource.