Managing Academic RiskAt Unitec we manage academic risk at both programme level and at the institute level. Each programme at Unitec has a unique Programme Risk Register for which the Academic Programme Manager is accountable. Programme Risk Registers provide a mechanism for considering the different risks and the controls and mitigations to effectively manage these. What is Academic Risk?Academic Risks are those things which, were they to happen, would have a negative impact on the delivery of a programme or on our academic systems or outcomes. In simple terms:
Proactively managing academic risk is important because it allows us to identify and prepare for what might happen and to put in place plans to prevent those things happening. It also allows us to prioritise where to focus first (higher risks). Why measure risk?Identifying the level of risk (the “risk rating”) relating to different aspects of a programme allows us to consider how to avoid things (typically those things that will have a negative impact) happening or to lessen the impact were it to happen, as well as to prioritise how to respond or put in place measures to avoid that thing happening. We do this by identifying the different possible risks and then rating them on how likely they are to occur and the impact they would have if they were to occur. How does it work in practice?The APM (or delegate) considers each risk area (12-14 depending on the programme) and determines the likelihood of each risk eventuating based on historical incidents and what is known of the current environment (using the Likelihood guidance). The APM then considers the possible impact on the programme* were that risk to occur (using the Consequence table). The likelihood and the impact together determine the Risk Rating (using the Risk Rating Matrix). The Likelihood Guidance, Consequence tables and Risk Rating Matrix are all on PowerBI There are two types of rating for each of Likelihood, Consequence and the overall Risk Rating. The first are the Inherent ratings, and the second are the Residual ratings. Inherent ratings are the ratings before anything is done to manage the risk. The Residual risk ratings are the ratings for after actions have been taken to lower the likelihood or consequence of an event (and hence lowering the overall risk rating). The following article – The real difference between inherent risk and residual risk in two pictures – has a useful (and short) explanation of the difference between inherent and residual risk. Factors to consider
How we manage Academic Risk across the instituteAt Unitec we manage academic risk at two main levels: Programme level and Institute level. At Programme level, every programme has an Academic Risk Register with a set of 12 core risk areas which apply to all programmes, as well as two additional risk areas relating specifically to research (for programmes at levels 7+) and regulatory/professional body requirements. Academic Programme Managers (or their delegates) use the programme level risk register to consider programme specific risks and capture how these are mitigated. The PAQC, which has governance oversight for specific sets of programmes, maintains oversight of programme risks and ensures (and provides assurance) that risks are being effectively managed. A PowerBI report allows PAQCs (and others) to review any risk registers they need to. At Institute level programme level risks are considered by the Academic Risk Working Group, to identify any institutional themes and to determine whether they (the programme level risks) are being managed effectively. The Academic Risk Working Group reports to the Quality Alignment Board (QAB) and Academic Board (AB) which both have a distinct role in the management of academic risk. QAB’s role is to consider any institute level themes able to be identified from the programme level risk registers and to consider how best these can be managed. This is achieved by considering the analysis undertaken by Te Korowai Kahurangi prior to each QAB meeting, any insights or information provided from PAQCs (via PAQC Chair reports or otherwise), and the findings from that analysis itself. In additional, QAB also considers the extent to which PAQCs are effectively managing the risk for the programmes for which they have oversight. This is achieved through consideration of PAQC Chairs’ reports, the strength of controls and relative changes in individual risk registers and PAQC summaries. QAB reports on its findings and actions being take to Academic Board. The same report is also distributed to PAQCs to ensure there is clear understanding of any concerns and/or actions being taken. Academic Board’s role is to ensure the overarching risk management system operates effectively and to assure itself that risks are being appropriately managed, and to ask questions and require actions as appropriate. The diagram below provides an overview of the process and how the academic Risk registers operate along side the PAQC reports to QAB. Programme Level Risk Areas ExplainedThere are fourteen key risk areas relating to programme delivery. Click here to see an explanation of each, or download the Programme Level Risk Areas.pdf VariablesEach Programme Key Risk Area has a number of variables which relate to it (and are the different columns on the Programme Risk Register spreadsheet. Click here to see an explanation of each, or download the Risk Area Variables.pdf |
Useful ResourcesThe real difference between inherent risk and residual risk in two pictures Related PagesProgramme Level Risk Variables Relevant Policies and ProcedureRisk Management Policy and Framework
|
For assistance with any of the items on this page contact your Te Korowai Kahurangi Administrator or email us at tkk@unitec.ac.nz.