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Establish the Context

Establishing the context for a risk management assessment confirms the subject of the risk assessment.  As identified in the Risk Management Diagram, examples of “subjects” would include: major integrated plans, significant capital projects, new programs, major system projects or financial plans.  Note that emergency and disaster plans are specific treatments (mitigations) within a wider process.

A number of factors can influence the context both internally and externally, including organizational direction, government policy, budget regulations, economic factors or even natural events.  Executive, Deans, Executive Directors, Directors, Campus Principals and Managers have the responsibility of deciding when to apply a formal risk assessment process to support their decision making.

Examples of Context

• Institutional

• Faculty, Department of Service

• Program

• Project/Plan

• Initiative