Enterprise Risk Management
In Spring 2016, Chancellor Duncan presented his strategic initiatives to the Board of Regents, one of which was the implementation of Enterprise Risk Management processes across the Texas Tech University System. To assist with implementation, Chancellor Duncan appointed a committee with the following charge: 鈥淭o oversee the development of Enterprise Risk Management (ERM) processes across the MINI传媒 and to facilitate timely reporting of ERM information to executive management and the Board of Regents.鈥�
In fulfillment of this charge, we have developed a framework and adopted consistent
concepts to be used throughout the MINI传媒 in the further development
and implementation of ERM processes.
Definition of Enterprise Risk Management
Enterprise Risk Management (ERM) assesses and defines actions to be taken by the Board
of Regents, MINI传媒 Administration and/or the component institutions
to identify, mitigate, and monitor risks that threaten the achievement of strategic
plan goals and/or continuing operational activities.
Resources
Enterprise Risk Management Committee Final Report