Risk Assessment

Risk assessment is meant to determine areas of vulnerability, mitigate and initiate risk response and remediation. It also provides a standard for stakeholders the aspects of risk management that are recognized as good practice. The Risk Assessment includes the process concerned with conducting risk management planning, identification, analysis, responses, and monitoring and controlling. Risk management aims to identify and prioritize risks in advance of their occurrence, and provide action-oriented information. The orientation requires consideration of events that may or may not occur and are therefore described in terms of likelihood or probability of occurrence in addition to other dimension such as impact and objectives. This should assist the colleges and/or department in developing and implementing their risk management plan through the use of risk management tools and techniques. Risk management plan shall be aligned with the University’s strategic plan. The University Council will also anticipate emerging issues and opportunities and exercise initiative in response through the Risk Register.