University of Vermont

Enterprise Risk Management

Context

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

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