Significant risks facing higher education

Taking an enterprise approach to risk management

Publication Date: 2018
Tag(s): leadership, risk assessment and management, laws and regulations, enterprise risk management
Author(s): Deloitte
URL: Significant Risks Facing Higher Education
Abstract:

"As higher education continues to rapidly evolve, new risks will emerge, known risks will take new forms, and crises will inevitably unfold. Universities should accept that they will not have all the answers. Knowing they have taken steps to be more resilient in the face of risk, Boards, presidents, and the rest of the university community can be more confident as they embrace a challenging future.

What are the top risks in higher education today? How can an enterprise approach to risk management help a university take effective action to avoid risks as well as prepare for worse case scenarios to lessen the damage of events that are out of their control? By taking an “enterprise” approach to risk management, universities can be more proactive and prepared; avoiding, accepting, mitigating, sharing, or exploiting risk where possible, or responding to higher education issues and challenges more effectively when they arise."