CSU-Global Risk Management Process Risk is an unavoidable element, that impacts businesses, industries and individuals regularly. While risk exposure is not preventable, it is manageable through the implementation of a structured risk management process. The traditional risk management process is comprised of six steps, the identification of loss exposure, analyzing loss exposure, examining the feasibility of the risk management technique chosen, selecting the best risk management technique, implanting the selected technique, and lastly, monitoring the results (Elliott, 2012). Consequently, this risk management process can be applied to CSU-Global loss exposures. Colorado State Universities (CSU) Global Campus began their first academic term in September of 2008 and is a fully accredited public university that offers career relevant masters and bachelor’s degrees (CSU-Global Campus, n.d.a). As of Spring 2016 the university recorded nearly 15,000 active students and was ranked eleventh for the Best Online Bachelor’s Programs by U.S. News and World
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The organization could experience fire damage to their facility affecting their property risk exposure. IT Risks increase liability loss exposure, especially if system security becomes compromised and student information is leaked. In addition, systems risk associated with having out of date software can create operational risk exposure. Furthermore, personnel loss exposure can occur if skilled employees leave the company through either retirement or layoffs. Lastly, if CSU-Global fails to strategically plan for increased competition, the organization risks increasing net income loss exposure. The exposure of these risks can be fully determined through frequent inspections and an analysis of the company’s organizational policies and procedures (Elliott,
The organization could experience fire damage to their facility affecting their property risk exposure. IT Risks increase liability loss exposure, especially if system security becomes compromised and student information is leaked. In addition, systems risk associated with having out of date software can create operational risk exposure. Furthermore, personnel loss exposure can occur if skilled employees leave the company through either retirement or layoffs. Lastly, if CSU-Global fails to strategically plan for increased competition, the organization risks increasing net income loss exposure. The exposure of these risks can be fully determined through frequent inspections and an analysis of the company’s organizational policies and procedures (Elliott,