Risk Management
Guidance, Plans & Templates
Useful documents, resources and further information to support your Risk Management activities.
What is Risk Management?
Risk management is concerned with managing the effects of uncertainty. This uncertainty can manifest as a threat or an opportunity in relation to our goals and objectives. Risk management operates across the University and is central to the achievement of objectives at both strategic and operational level. The University is committed to ensuring that it has a robust and comprehensive system of risk management in line with the requirements of the Office for Students, and follows good practice in risk management.
Risk Management at Warwick
The Risk Policy (approved by Council in July 2018) outlines the current approach of the University to risk management and the general responsibilities of those involved in managing and overseeing risk.
Risk management in departments is undertaken as an integral part of the Strategic Planning Process. Departments within Professional Services (PSG), the Commercial Group (CCSG) and the Faculties, work to actively identify, scope, manage and report on the risks to their objectives.
The central Risk & Resilience Team support departments to scope and review their risks on a regular basis. Department/Faculty meetings and inter-departmental forums allow for focused and shared understanding of significant risks and thematic risks. If risks are particularly concerning, they can be escalated to the University Executive Board for further consideration.
- Risk Identification – Recognise & describe it – a process used to find, recognise, and describe the risks that could impact our objectives.
- Risk Analysis – Score it – a process used to determine the ‘Likelihood’ of the risk happening and the potential ‘impact’ if it did. The resulting ‘Risk Score’ is a calculation of Likelihood x Impact.
- Risk Evaluation – Is it acceptable? – a process used to examine the magnitude and whether the risk is acceptable against the Risk Appetite/Tolerance of the Dept or University.
- Risk Treatment – Mitigation – a process by which ‘controls’ (mitigation measures) are put in place to help lower the risk score.
Travel Risk Management
Good health and safety risk management involves the identification of hazards and assessment of risk, so that existing control measures can be assessed for adequacy.
In line with the University's Travel Risk Management Policy, if you are travelling on University business to an overseas territory you are required to complete a risk assessment prior to travelling. It is the responsibility of the person travelling to ensure they have completed a risk assessment before making any travel bookings.
The Pre-Travel Risk Assessment form is available via the Guidance, Plans & Templates page below. This form should be used and should be signed off by the person authorising the travel, or nominee. Copies of completed forms must be retained by the traveller’s home department.
If you require any advice on completing this form, please speak with your line manager or departmental administrator in the first instance.