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ERIC Number: EJ1103763
Record Type: Journal
Publication Date: 2016-May-16
Pages: N/A
Abstractor: ERIC
ISBN: N/A
ISSN: ISSN-1938-5978
EISSN: N/A
How Universities Can Map Their Way to Smarter Risk and Cost Control
Dickerson, Jane
New England Journal of Higher Education, May 2016
Faced with operational complexities on par with those of a city, larger colleges and universities have long understood the value of taking a strategic approach to understanding and managing enterprise risks. Personnel dedicated to risk analysis and control at these institutions are tasked with taking a holistic view of the exposures, liabilities and responsibilities, as well as developing innovative ways to reduce the cost of dealing with them. The payoff for this extensive, dedicated effort is actually two-fold: a smarter, more cost-effective approach to managing the structural operational cost (risk), as well as better insight into and control over a number of key aspects of their operations. But can mid-sized and smaller institutions afford this approach? Not the exact approach perhaps, but a subset of this approach could make a real difference. One particularly useful method proven successful in helping higher ed institutions adopt a more strategic mindset in identifying and managing their risk and ultimately reducing costs is the development of an enterprise risk map. This article briefly describes the facets of the risk map and how an in-house, development team can perform a "Campus Exposure Analysis" using the risk map.
New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail: info@nebhe.org; Web site: http://www.nebhe.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A