Which elements are typically included in a risk management plan for higher education?

Which elements are typically included in a risk management plan for higher education?

• A. A calendar of holidays.
• B. A campus map.
• C. A list of risks, assigned owners, controls, and monitoring of mitigation effectiveness.
• D. A budget for risk management activities.

Answer: (C)

A risk management plan in higher education is about identifying what could go wrong, assigning responsibility, laying out actions to reduce risk, and showing how well those actions work over time. The central piece is a risk register that lists each risk, the owner responsible for it, the controls in place to mitigate it, and the way its mitigation effectiveness is monitored. This structure creates accountability, guides coordinated action across departments, and provides evidence to leaders and auditors that risks are being managed. Other items mentioned don’t capture that ongoing management framework. A calendar of holidays doesn’t describe risks, owners, controls, or monitoring. A campus map is a useful safety resource but not an element that defines how risks are identified and mitigated. A budget for risk management activities could appear in planning, but it’s not the essential content that characterizes how a risk management plan operates; the core is the list of risks with assigned owners, controls, and monitoring.

A risk management plan in higher education is about identifying what could go wrong, assigning responsibility, laying out actions to reduce risk, and showing how well those actions work over time. The central piece is a risk register that lists each risk, the owner responsible for it, the controls in place to mitigate it, and the way its mitigation effectiveness is monitored. This structure creates accountability, guides coordinated action across departments, and provides evidence to leaders and auditors that risks are being managed.

Other items mentioned don’t capture that ongoing management framework. A calendar of holidays doesn’t describe risks, owners, controls, or monitoring. A campus map is a useful safety resource but not an element that defines how risks are identified and mitigated. A budget for risk management activities could appear in planning, but it’s not the essential content that characterizes how a risk management plan operates; the core is the list of risks with assigned owners, controls, and monitoring.