Secretariat

Risk Management at Cambridge

The University initiated its formal risk management arrangements in early 2002. As a result of this work the Council approved the formation of a Risk Steering Committee, a Risk Management Policy and a Risk Management Strategy at its meeting in June 2002. The risk management governance relationships at the University are shown on the Risk Management Process diagram:

• Risk Management Process Diagram

The Risk Steering Committee compiled a Key Risk Register following the Risk Management Method described in Risk Management in Faculties, Schools and Departments.

The following documentation was developed as part of that process for use in the annual review of the risk register and risk management arrangements. The documents are equally applicable to School and Department level risks.

Size of Risk - Impact Guide - a table with criteria for determining and scoring the likelihood and impact of a risk.

Size of Risk - Impact Grid - a graphical representation of the University's risk scores and thresholds.

The Risk Management Form (RM1) is a document to assist risk owners, heads and project managers to initially review and analyse a risk or risks.

Risk Management Meeting Record (RM2) is for committee chairs/secretaries to record items/decisions with significant risk(s) attached for each meeting.

Risk Reporting Template (RM3) - for reports from the risk owner to the risk co-ordinator. The frequency of the report is dependent on the seriousness of the risk.

Pro-forma risk register (RM4) - provides the University's register format with a pro-forma detailed analysis sheet attached.

All these documents are available from the Risk Management Documentation section.