Risk management in a university environment

Ann Brewer, Deputy Vice Chancellor (Strategic Management), University of Sydney and Ian Walker, Director, MC2Pacific

Abstract
Risk is an integral part of quality assurance in higher education in Australia. This article describes a generic methodology for the identification and management of risk in a university or similar tertiary education environment and outlines a framework that enables the management of risk to be incorporated in the institution’s governance cycle. The new approach here is that risk is embedded in the quality assurance framework and, in turn, in the strategic planning and budgeting processes. In many organisations, risk is implemented as a separate process and not considered in any meaningful way as integral to the strategic direction and performance of the university. The article is based on work carried out by the authors and others between March 2008 and April 2009 to develop a comprehensive system for managing risk in a major Australian university, including processes whereby risk management could be integrated with, and add value to, the overall governance of the university. The case study is described in the appendix to this article.

Keywords
risk management, university, quality assurance, risk methodology

Ann Brewer was appointed as the foundation Professor in Organisational Logistics in the Faculty of Economics and Business, University of Sydney, in 1998. Her current executive role, as Deputy Vice Chancellor (Strategic Management), involves the implementation of the strategic plan, overseeing the core operations of the university, the quality assurance strategy, the risk management framework and external education. Her work has been published in leading international journals in her field and she has authored six books on organisational change, supply chain management, business management and employee commitment.

Ian Walker is an experienced management consultant who has specialised in risk management and business continuity planning. In an international career he has carried out assignments in the USA, UK, South Korea and Singapore in addition to Australia, achieving successful outcomes for clients in both the public and private sectors. Prior to his career as a management consultant he held senior line management positions in the IT services sector. He is currently a Director of MC2Pacific, a member of the Greencap group of specialist consulting firms.

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