Legal and Compliance Services

What do we mean by risk management?

Risk is the threat that an event or action will adversely affect an organisation’s ability to achieve its objectives and to successfully execute its strategies.

Risk management is the identification, analysis and economic control of all threats to the achievement of the University’s strategies and operational objectives. The University acknowledges that the purpose of risk management is not to remove all risk (this is neither possible nor, in many cases, desirable). Rather risk management is about ensuring that risks are recognised and their potential to cause loss fully understood.

Based on this information action can be taken to direct appropriate levels of resource at controlling risk or minimising the effect of potential loss.

Risk management is an essential part of the University’s role given the nature of the business. The University’s approach to risk management is to implement a structured and systematic process for the identification, evaluation, prioritisation and management of risk at both a strategic and an operational level.

Please email risk@lincoln.ac.uk for any further help