Strategic planning is critical to ensuring that institutions of higher education thoughtfully and systematically position themselves to accomplish their mission, vision, and strategic goals, particularly when these institutions face a myriad of risks that can negatively impact their continued financial viability and compromise their ability to achieve their goals. This article argues that it is both logical and desirable to integrate risk management and strategic planning into one coordinated, holistic process to create a synergistic effect that leverages the benefits of both processes and makes them mutually reinforcing. The article notes that strategic planning and risk management unfortunately appear to be mostly undertaken as separate activities, something seemingly borne out by the plethora of writing on the disparate subjects and the dearth of writing on their integration. The article also discusses how to integrate risk management and strategic planning into a holistic process by sharing the experience of The Pennsylvania State University's Mont Alto campus as a potential best practice. (Contains 5 notes.)