December 2nd, 2019
The University recognises and accepts that it will be exposed to a number of risks in the normal course of operation and in pursuit of its strategic objectives. Appetite for those risks will vary and be dependent on the activity type and the potential impact or reward.
It is essential that risks whether they are at a school, faculty, professional services department (PSD), project or programme level are understood and managed effectively.
By identifying, assessing and pro-actively managing risks, the University will be better placed to manage threats and be able to take advantage of opportunities to achieve its strategic objectives whilst protecting the reputation of the University.
To help everyone understand the requirements of managing risk, our Risk Management Policy and Framework document (Workspace login required) has been updated.
This applies to all University of Nottingham enterprise risks, academic units, administrative functions, sites and operations, including programme and projects and is effective immediately. The updated document brings together all relevant content in one place providing a comprehensive, clear and consistent guide to risk management requirements across the University.
What does this mean for me?
If you’re responsible for risk management in your faculty, PSD, programme or project you’ll need to create or update your current risk register to reflect the new requirements. We appreciate that this might take some time, so please aim to complete the transfer by the end of April 2020.
The University Level Risk Register , which details the significant risks currently faced by the University at a global level, is being updated and will be available in January 2020.
If you have any queries or questions, please contact Senior Risk Adviser, Mike Early.
Tags: framework, policy, risk, risk management, risk register
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December 5th, 2019 at 9:46 am
Great work and really pleased to see the focus on risk management across the University has been updated and has a platform. I’m looking at updating the Project Management Framework so will definitely ensure the project risk register template is updated accordingly.
December 5th, 2019 at 10:03 am
Thanks for the kind words Katy – we’ll pass them onto our Planning, Performance and Strategic Change team.