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Risk Assessment and Review

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Risk is the chance of something happening as a result of a hazard that has an impact on the operation of an organization.  MSU Risk Management and Insurance attempts to maintain a balance between protection of the University’s assets, the benefits of the activity, and fulfillment of the University’s mission.  Concerns can arise when an activity creates a high degree of risk to individuals or threatens the operation of the University.  Risk assessment and review involves identifying, analyzing, and handling (control, avoid, transfer, or finance) the risk appropriately.  The assessment and review process involves measuring the frequency and severity of potential hazards. Risk analysis can include reviewing contracts, activities, or waivers.  In addition, the risk review can involve consultation with multiple departments across campus.  Examples of different types of review may include evaluating the contract and insurance of an entertainment vendor, reviewing outreach activities of an academic department, or activities of a summer camp.  If your department is hosting an event, has documents to be reviewed, or has a safety concern, contact Bobbi Boland or Debbie Hurst for assistance at 355-5022.