The following diagram is a representation of the elements of the University's Organisational Risk Framework:
Risk and opportunities are inherent in every activity we do. We will manage these risks and opportunities in a variety of different methods.
It is essential that we have processes to identify our risk exposures and to make visible opportunities across all our activities. It is also essential to provide an assurance that these exposures are adequately controlled, gaps are rectified and we take advantage of opportunities presented to the University.
This will allow us to make well-informed decisions which will lead to long-term sustainability of the organisation.
The success of this framework will depend on a number of factors:
Charles Sturt University is committed to establishing an organisation that ensures that risk management is a core and integral part of all activities, projects and events and it sits within the University Governance Framework.
The CSU Organisational Risk Management (ORM) Framework will be used to manage uncertainty and will be supported by efficient, effective and robust processes to assist the organisation achieve its mission and objectives. This Framework will allow the University to:
Source: AS NZS/ISO 31000:2009 Risk Management - Principles and Guidelines
The objectives of the University's ORM Framework include:
The University's Organisational Risk Management Framework is built upon the 11 principles that is defined by the International Standard for Risk Management (AS/NZS ISO 31000:2009):