Risk Management Framework - ENGINEERING MANAGEMENT

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The scope of the Risk Management Framework: This document outlines the Risk Management Framework for activities within the University ...

Risk Management Framework

Risk Management Framework pdf
The scope of the Risk Management Framework:
This document outlines the Risk Management Framework for activities within the University and all its operations and entities. The Framework defines the University’s risk management process, methodology, appetite, training and reporting, and also establishes the responsibilities for implementation. 
Risk management is part of the University’s day-to-day operations and is undertaken at Group and Divisional levels as well as more broadly at the overall University level. The overall aim of risk management within the University is to ensure that organisational capabilities and resources are employed in an efficient and effective manner to manage both opportunities and threats. 
To this end, the University has a Taxonomy of Risk Management, i.e. the Risk Management Framework is both a top-down (University-wide) and bottom-up approach (including assessments from Groups and support service Divisions, WHS, major projects, and business continuity). This taxonomy is illustrated below.
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