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Q: First of all, what is a risk?
A: A risk is something that prevents you from reaching your strategic goals. For instance, should the NWU offer a course that has not been properly accredited, it could cause serious reputational damage and prevent the university from living its value of academic integrity, which is part of the NWU’s strategy.
Q: Why is risk management important?
A: If we do not manage our risks properly, it may have serious financial, legal or reputational consequences and may prevent the university from reaching its goals as set out in the Annual Performance Plan.
Q: Is there a central place where risks are recorded?
A: Yes, all identified risks are included in either a specific campus’s operational risk register or, in the case of substantial university-wide risks, in the institutional strategic risk register.
Q: What are our highest risks at the moment?
A: Our six highest risks (in no particular order) are related to:
Click below to view the answers
Communication and marketing (Example: Inadequate one-voice communication may damage our reputation.)
Teaching-learning delivery channels (Example: We compete with online competitors offering free online courses known as Massive Open Online Courses or MOOCs.)
Leadership transition (Example: Changes in leadership may cause uncertainty among staff.)
Management model (Example: If the campus plans are not adequately aligned with institutional plans, the NWU’s Annual Performance Plan can’t be implemented effectively.)
Risk management (Example: If risks are not properly managed, it may cause financial or other damage to the NWU.)
Transformation (Example: If our branding as one entity is unsuccessful, it may have a negative impact on organisational culture.)
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Click on the button above for more information about our biggest risks, as included in our 2015 annual report.
