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Enterprise Risk Management

Resources and Tools

Risk Assessment form

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

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.

Calculate Risk Score

Using the table below, assess the financial and/or reputational impact.

 *Impact x Likelihood = Risk Score

Determine the risk likelihood. 


Multiply the two numbers, the resulting product is the risk score. Use the table below to determine your immediate response strategy.

*Impact x Likelihood = Risk Score

The risk score results can be plotted on a HEAT MAP. While this is useful data and will give us a starting point to narrow down the risks, it is not the only input we will use to do our RISK RANKING.

Risk Score Heat Map

Last Updated: October 4, 2017

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