The University of Massachusetts Systemwide ERM Program developed tools to assess risks with systemwide impacts, as well as risks with campus-specific impacts. The systemwide risk assessment tools are used in the systemwide ERM Program, while hte campus-specific tools may be used by campuses for their respective campus ERM Programs.
Risks are evaluated across three risk factors:
- Likelihood: Could the Campus or University System experience this risk?
- Consequence: How much would the Campus or University System be impacted by this risk?
- Urgency: How soon does the Campus or University System need to prioritize this risk?