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  1. Surveys
  2. 2014
  3. February
  4. U
  5. UVa Enterprise Risk Management Survey

UVa Enterprise Risk Management Survey

0%
Exit Survey
 
 
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 top 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.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
2. The University may lack resources to maintain core programs and/or pursue strategic objectives.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
3. The University may not effectively manage the generational turnover in faculty.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
4. The University's faculty compensation may not be competitive with peers.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
5. Individual units at the University may not effectively align fundraising to pan-University strategic priorities.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
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).
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
7. Increased emphasis on international experiences of faculty and students may bring unknown risks.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
8. The University may have ineffective succession planning.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
9. The University’s key accreditations may be threatened.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
10. The University may fail to effectively compete for federal grants and contracts.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
11. The University may not effectively leverage technology in the residential educational experience.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
12. The University may be unable to sustain AccessUVa as the top financial aid program among all public universities.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
13. The University may have to adjust its strategic priorities due to continued reductions in state appropriations.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
14. The University may not effectively manage major fluctuations in key economic indicators.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
15. The University may suffer a drop in the higher education rankings.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
16. The University's information technology and application safeguards for protecting sensitive data and information may be compromised.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
17. The University may fail to modernize graduate and undergraduate curriculum on or ahead of pace with competing institutions.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
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.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
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.
remote unlikely moderate likely almost certain
likelihood
 
 
very low low moderate high critical
impact
 
 
 
20. OTHER – please describe a significant risk not listed above, including comments about the likelihood and impact of that risk.
   
 
 
21. OTHER – please describe a significant risk not listed above, including comments about the likelihood and impact of that risk.
   
 
 
Please feel free to describe and rate any additional risks, or provide any general comments on the University's Enterprise Risk Management effort.
   
 
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