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Risk Assessment Form

Risk is a measure of uncertainty or the chance of something happening that will impact our objectives. Risks generally arise either as a result of a change in an organization's operating environment or as a result of inherent risk. Examples of changes in the operating environment include: changes in information systems and technology, changes in personnel, the introduction of new programs, and structural changes. Examples of inherent risks may include: organizational or administrative complexity, high volume of cash receipts or disbursements, a history of prior problems, unusual internal or external pressure, and management's unresponsiveness to identified problems. Typically, risks are measured according to their likelihood of occurrence and the impact should they occur.

Five Most Important Risks/Concerns Impacting the Achievement of Your Business Unit's Goals/Objectives Likelihood of Occurrence Impact of Occurrence
Instructions: Be specific please. Rank the identified risks considering: 1) the likelihood that the risk will occur, and 2) the significance of the effect should the risk occur.
Five Most Important Institution-wide Risks to Achieving Strategic Objectives Likelihood of Occurrence Impact of Occurrence
Instructions: Be specific please. Rank the identified risks considering: 1) the likelihood that the risk will occur, and 2) the significance of the effect should the risk occur.