Enterprise Risk Management
The purpose of risk evaluation is to make a decision, based on the results of the risk analysis, about which risks and opportunities require a response and about the priorities for response implementation.
risk or opportunity’s risk score (the product of impact X likelihood)
will determine where it falls on UVM’s risk and opportunity “heat
map” and what level of institutional review each risk or
opportunity will receive.
- Risks and opportunities scoring 1-3 are retained at the unit level and managed by the responsible official.
- Risks and opportunities scoring 4-9 are included on the institution’s risk register, reviewed by the ERMAC and PACERM, and overseen by the responsible official.
- Risks and opportunities scoring 10-18 are included in the risk portfolio, reviewed by the ERMAC, PACERM, and President, overseen by the PACERM, and discussed with the Board of Trustees.
UVM's Risk & Opportunity Heat Map
Last modified June 20 2012 12:47 PM