| |
Below is a list of 19 specific risks, summarized from the key risks identified by our prior Enterprise Risk Management (ERM) project and other potential risks related to topics the board has discussed recently. Please indicate a rating for the likelihood of each risk occurrence, as well as the potential impact to the University. You may also click "OTHER" and specify any other risks you believe should be considered one of the University’s tops risks. If you add a risk in this section, please also rate the likelihood and impact of that risk.
Likelihood: How likely is it that this risk will occur at the University?
Impact: What would the impact be if this risk occurred at the University?
|
| |
|
|
|
| 1. The University's strategic plan may not be implemented effectively.
|
|
|
|
|
|
| 2. The University may lack resources to maintain core programs and/or pursue strategic objectives.
|
|
|
|
|
|
| 3. The University may not effectively manage the generational turnover in faculty.
|
|
|
|
|
|
| 4. The University's faculty compensation may not be competitive with peers.
|
|
|
|
|
|
| 5. Individual units at the University may not effectively align fundraising to pan-University strategic priorities.
|
|
|
|
|
|
| 6. Incidents (e.g. racial incidents, sexual assault, harassment) may occur at the University involving faculty, staff, or students, either on Grounds or at University-affiliated programs (e.g. summer camps, Semester at Sea).
|
|
|
|
|
|
| 7. Increased emphasis on international experiences of faculty and students may bring unknown risks.
|
|
|
|
|
|
| 8. The University may have ineffective succession planning.
|
|
|
|
|
|
| 9. The University’s key accreditations may be threatened.
|
|
|
|
|
|
| 10. The University may fail to effectively compete for federal grants and contracts.
|
|
|
|
|
|
| 11. The University may not effectively leverage technology in the residential educational experience.
|
|
|
|
|
|
| 12. The University may be unable to sustain AccessUVa as the top financial aid program among all public universities.
|
|
|
|
|
|
| 13. The University may have to adjust its strategic priorities due to continued reductions in state appropriations.
|
|
|
|
|
|
| 14. The University may not effectively manage major fluctuations in key economic indicators.
|
|
|
|
|
|
| 15. The University may suffer a drop in the higher education rankings.
|
|
|
|
|
|
| 16. The University's information technology and application safeguards for protecting sensitive data and information may be compromised.
|
|
|
|
|
|
| 17. The University may fail to modernize graduate and undergraduate curriculum on or ahead of pace with competing Institutions.
|
|
|
|
|
|
| 18. The University may have inadequate funding available for needed investment in capital projects, buildings, major equipment, and infrastructure to further the teaching, research, and clinical mission.
|
|
|
|
|
|
| 19. Significant instances of non-compliance may occur with federal, state, university, or other established regulatory requirements that lead to reputational and/or financial harm.
|
|
|
|
|
|
| |
| 20. OTHER - Please describe and rate any additional risks not included above | | |
|
|
|
|
|
|
| |
| 21. OTHER - Please describe and rate any additional risks not included above | | |
|
|
|
|
|
|
| |
| Please feel free to describe and rate any additional risks, or provide any general comments on the University's Enterprise Risk Management effort. | | |
|
|
|
|
Loading...
