What is “Risk Management” Process?. Identify Threats/Hazards Assess the Relative Risks Implement Control Measures and then… Monitor and Review. Conflict of Interest or Commitment vs Risk. conflict
What are the chances the risk will occur?
What is the worst-case outcome?
commercial potential while University retains liability
Not likely to occur
(ie heard of ithappening)
Known to occur(ie has happened in the past)
Almost Certain(iea common or repeating occurrence)
School supply budget overrun by 20%
School cannot deliver course
Loss of income plus retain liability
A Simple Risk Level Estimator