Membership appointed and charged.
The members were appointed by President George Ross and the ERC was charged in February 2016.
The ERC committee meets on a regular basis and developed scales to quantify the risk in terms of impact (insignificant, moderate, or significant/catastrophic) and likelihood (unlikely, more likely, or high probability). As the result of these meetings, the ERC has been able to develop a list of CMU’s top institutional risks that fall within these main areas:
- Changing Demographics
- Changing Revenue Streams
- Maintaining Safety and Business Operations
- Cost of Regulatory Compliance and Noncompliance
- Aging Infrastructure and Operational Systems
Risks are continually monitored and can be expected to change over time. The risks faced by the University today may not all be relevant as time passes. Ongoing mitigation activities for each specific risk are taken seriously by University administrators and progress is analyzed on a regular basis.