What is Risk Management?
Risk Management is the process of identifying conditions that can cause injury or loss of assets. The most common form of risk management is insurance.
The CSU and its officers, employees, and students shall be responsible for the conduct of CSU programs and activities in a manner that does not impose an unreasonable risk of loss or injury. Risks include, but are not limited to, injury or death of persons, loss or damage of property, regulatory liability, criminal and civil liability, contractual liability, loss of revenue, disasters and interruption of the achievement of the mission of the University. Risks shall be controlled and financed to efficiently and effectively minimize the adverse effects of accidental losses on productivity and resources at the program management level.
The management of risk is accomplished through identification and analysis of exposures to accidental loss that may interfere with the University's basic objectives; examination of feasible alternative risk management techniques for dealing with these exposures; selection of the best risk management techniques to manage the risks without unduly curtailing or modifying activities essential to the CSU mission; implementation of the chosen risk management techniques; and monitoring and evaluating the risks.
The Risk Management program shall provide assistance to campus entities in identification and examination of risks, selection of risk control and risk financing techniques, evaluation of the results, and improvement of risk management.