ERM Process

ERM Process

The Continual Improvement Cycle

The risk management process should be:

  1. an integral part of organisational management at all levels;
  2. embedded in organisational culture and practices; and
  3. tailored to the business processes of the organisation

The risk management process is shown below:

To facilitate the risk management process, JCU has implemented an enterprise risk management information system called Riskware. Further detail including online training modules can be accessed by clicking on Riskware.

The various risk areas identified by JCU include the following:

  1. Financial
  2. Academic
  3. Reputation
  4. Business Disruption
  5. People
  6. Compliance and Liability
  7. Workplace Health and Safety

The JCU Risk Criteria describes likelihood and consequence as well as control effectiveness ratings for each of the above risk areas. The same information can also be found in the Appendices section of the Risk Management Framework and Plan.

Risk level is determined using the JCU Risk Matrix.