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risk in higher education institutions
Risk in Higher Education Institutions
Higher education in the UK is diverse and, in comparison with other sectors, is generally felt to be low-risk. Accepting this, however, the nature of risk in individual institutions varies considerably. Risks can be classified into 6 major areas:
- Strategic risks, relating to major and probably long term plans. This is an important matter for governing bodies.
- Financial risks, which relate both to overall financial capacity and viability and to financial procedures and systems.
- Legal risks, including those at institutional level, those which might arise from the establishment of subsidiary companies or joint ventures and those relating to staff undertaking private external work.
- Reputational risks, which can be significant in terms of both staff and student recruitment.
- Operational risks, which are principally matters for management, and can include people issues, estates issues and health and safety.
- Major Project risks, where there can be financial exposure, legal risks and potential for damage to reputation.
More information [PDF, 49KB]
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