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					UNIVERSITY OF WESTMINSTER

STRATEGIC RISK REGISTER – 2006 CALENDAR YEAR


PEOPLE

A.   Failure to meet students’ expectations.
     Risk Owner: Prof Rikki Morgan-Tamosunas
B.   Failure to maximise staff members’ potential/ contribution.
     Risk Owner: Prof Martin Everett
C.   Industrial action/ poor industrial relations in HE sector.
     Risk Owner: Prof Martin Everett
D.   Loss of/ difficulty in recruiting and retaining staff, affecting teaching and
     service quality.
     Risk Owner: Mr Larry Bunt
E.   Perceptions of poor security/ risks to personal safety.
     Risk Owner: Mrs Carole Mainstone

PROPERTY & INFRASTRUCTURE

F.   Loss of ICT services and access during critical periods.
     Risk Owner: Ms Suzanne Enright
G.   Major building loss or failure; loss of teaching facilities.
     Risk Owner: Mr Melvyn Barlex
H.   Poor management information systems.
     Risk Owner: Ms Suzanne Enright
I.   Poor state of University buildings, labs, libraries and IT facilities.
     Risk Owner: Mr Melvyn Barlex

FINANCE

J.   Poor financial performance.
     Risk Owner: Mr Philip Harding
K.   Ongoing change in Government policy having major effect on funding
     for T&R.
     Risk Owner: Dr Geoffrey Copland
L.   Failure to achieve student number targets, resulting in: failure to
     generate sufficient HEFCE funding and fee income; failure to make
     contract.
     Risk Owner: Dr Geoffrey Copland
M.   Lack of competitiveness; ineffective marketing.
     Risk Owner: Mr John Callen
N.   Adverse impact of new pay deal and rising pensions burden.
     Risk Owner: Mr Philip Harding
O.   Adverse impact of legislation.
     Risk Owner: Mrs Carole Mainstone

REPUTATION

P.   Management of bad publicity.
     Risk Owner: Mrs Carole Mainstone
Q.   Failure of academic quality assurance mechanisms/ Loss of
     accreditation.
     Risk Owner: Prof Simon Jarvis
R.   Failure of high-profile international project.
     Risk Owner: Dr Maurits van Rooijen
S.   Failure against benchmarks for student progression/ retention/
     employability.
     Risk Owner: Dr Myszka Guzkowska


                                                                      2006
                                                                       Appendix II
                                                 Risk Management Workshop 14-05-07

                             RISK RATING SYSTEM

Definitions

Probability/ Frequency

Almost          90%+         There is almost no chance of the risk not occurring OR
certain                      the risk could be expected to occur on at least an
                1 Year
                             annual basis.
(5)
Likely          60%-89%      The chances of the risk occurring are significantly
                             higher than average OR the risk could be expected to
(4)             3 Years
                             occur once within a three year period.
Moderate        40%-59%      There is a roughly even chance of the risk occurring or
                             not occurring OR the risk could be expected to occur
(3)             5 Years
                             once within a five year period.
Unlikely        15%-39%      The chances of the risk occurring are significantly lower
                             than average OR the risk could be expected to occur
(2)             10 Years
                             once within a ten year period.
Rare            Up to 14%    The chances of the risk occurring are negligible OR the
                             risk would not be expected to occur at all within a ten
(1)             10 Years +
                             year period.


Impact

Catastrophic    The risk would stop the University as a whole from operating for up to
                three months OR the risk would stop a significant unit within the
(5)
                University from operating for up to six months OR the risk would
                have an adverse financial impact of over £20 million.
Major           The risk would stop the University as a whole from operating for up to
                a month OR the risk would stop a significant unit within the University
(4)
                from operating for up to three months OR the risk would have an
                adverse financial impact of between £10 million and £20 million.
Moderate        The risk would not stop the University as a whole from operating BUT
                the risk would stop a campus within the University from operating for
(3)
                up to a month OR the risk would have an adverse financial impact of
                between £2 million and £10 million.
Minor           The risk would not stop the University as a whole from operating
                BUT the risk would stop a support unit within the University from
(2)
                operating for up to a month OR the risk would have an adverse
                financial impact of between £1 million and £2 million.
Insignificant   The risk would have no impact on the operation of the University as a
                whole nor on a significant unit within the University other than
(1)
                disruption or inconvenience lasting less than one month OR the risk
                would have an estimated adverse financial impact of less than £1
                million.
Methodology

Methodology for calculating Inherent Risk and Residual Risk Scores:

Probability/ Frequency:         Rating:
Almost certain                  5
Likely                          4
Moderate                        3
Unlikely                        2
Rare                            1

Impact:                         Rating:
Catastrophic                    5
Major                           4
Moderate                        3
Minor                           2
Insignificant                   1

Classification (the risk rating) is the product of the two numeric values.

Example

A risk which is “likely” (rating 4) and whose impact would be “moderate” (rating 3) will
have an overall risk rating of 12.



                                                                       Last revised: 17.01.05 (VCSHG)
                                    S:\Scanner\Share\Risk Management\Risk Mgt 2005\Risk Rating System
                                                   Document owner: Jayne Rose, Executive Administrator

				
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