Enterprise Risk Management for Colleges and Universities

Overview

New opportunities and challenges emerge every day for colleges and universities. In this dynamic environment, institutions face uncertainty over whether they will achieve their goals. Uncertainty derives from unpredictable internal and external factors. With uncertainty, the risks of achieving institutional goals can become intricately and hugely challenging. Enterprise Risk Management ("ERM") is a way to better manage the challenge. This paper begins with a brief introduction to ERM and then provides detailed practical guidance on how an institution can implement ERM.