1. Quantify risk categories that we have identified.
This will give the ERC a matrix of risk with impact and likelihood. The goal, of course, over time is to reduce risks based on the combination of impact and likelihood so that those with more significant impacts and higher probabilities can be brought down to lower impact/likelihood probability.
2. Direct discussion of ERC with campus community
This will take place consistent with our policy of shared governance. We plan to discuss with:
- Board of Trustees
- Council of Deans
- Academic Senate
- President’s Cabinet
- Council of Chairs
- Student Government
3. Finalize risk categorization and responsible areas.
4. Report annual progress to the Board of Trustees in September of each year.
5. A Three-Year Plan for Maturing Enterprise Risk Management at CMU