Resources and Tools

Risk Abstract form

The Risk Abstract form is used to collect University wide information about risks so that the risk culture and appetite can be understood.

Crystal Ball

Crystal Ball is an add-in for Microsoft Excel that performs Monte Carlo simulations. Crystal Ball allows you to define financial risks, simulate potential outcomes, and see the range of those risks’ impact. ERM will provide support to stakeholders who desire to use Crystal Ball to analyze their risks.

Risk Map

A risk map, or heat map, is a visual tool to help understand the likelihood and impact of a risk. Risks requiring immediate focus appear in the red area, medium-focus risks are in the yellow area, and low-focus risks are in the green area. The most important risks are highly likely and highly impacting; the least important risks are highly unlikely and not very impacting. By plotting multiple risks, actionable risk mitigation priorities may be established.

• Blank Risk Map Template

Surveys

Check back soon.

Helpful Links

• University of Illinois Risk Management (Insurance)
• University of Washington ERM
• University of California ERM
• COSO (Standardized Risk Management)
• ISO 31000 (Standardized Risk Management)
• ERM Intranet
• SCUP Article on ERM (Comparison to SWOT analyses)

Last Updated: July 26, 2011