A Process for Managing Eight Types of Risk

(from Equities.com) Roughly eight types of risk could affect an organization at any time: strategic, compliance, financial, operational, environmental, employee, political and societal. To mitigate the exposure at your school, prepare with these five steps:

1. Identify the risks specific to your organization.
2. Assess the likelihood that any could happen.
3. Develop a procedure for how to respond.
4. Have systems in place to mitigate the affects of a risk.
5. Monitor existing risks to be better prepared for when they do occur.