Context

The purpose of establishing the context for risk assessment is to set the stage for risk identification. Since a “risk” is any issue (positive or negative) that may impact an organization’s ability to achieve its objectives, defining the organization’s objectives is a prerequisite to identifying risk.

The context for risk assessment at UVM includes:

• UVM's mission, vision, and strategic goals and objectives, as stated in the University Strategic Plan
• College, School, Division, or departmental strategic goals or objectives
• Major initiatives planned or underway
• Critical activities, functions, or services
• The external context, including stakeholder perceptions and expectations and relevant social, cultural, political, financial, technological, economic, legal/regulatory, or competitive factors
  

Last modified July 13 2012 11:34 AM