Policies and procedures

Policy No.
Strategic Management
Authoring Organisational Unit
Strategic Risk Team - SPP Central Unit
Date Approved
14/02/2012 Revised 25/06/2012
Next Review Date
Approving Body

The University of Western Australia

University Policy on: Risk Management

Purpose of the policy and summary of issues it addresses:

The purpose of this policy is to create and sustain a risk management culture that is aligned to ISO 31000, AS/NZS 4360:2004 and related standards and codes of practice in order to:

  • Support the University in the achievement of its strategic objectives;
  • Safeguard the University's assets - people, property and information;
  • Create an environment and provide the resources for all staff to assume responsibility for risk management; and
  • Protect the relevant interests of all of the University's stakeholders.


All risk terminology definitions are as per international risk management standard ISO 31000. Definitions are also set out in the Risk Management Framework document.

the University means The University of Western Australia

UWA means The University of Western Australia

Policy statement:

1 General Principles

1.1 The University recognises that risk management is an integral part of good management practice.

1.2 The University is committed to achieving best practice in the management of its strategic and operational risks and will apply its principles and practices to all of its activities.

1.3 Best practice in the management of its strategic and operational risks supports the University's overall mission to: 'advance, transmit and sustain knowledge and understanding through the conduct of teaching, research and scholarship at the highest international standards, for the benefit of the Western Australian, Australian and international communities'.

1.4 The Risk Management Framework, which underpins this policy, sets out:

  • the risk management process;
  • the application of risk management principles;
  • operational priorities;
  • the requirement that risk assessments will be conducted on strategic projects and major initiatives;
  • the allocation of responsibilities for managing risk;
  • the available resources;
  • terminology; and
  • a UWA Risk matrix which provides guidelines for the identification, evaluation and management of risk.

2 Responsibilities

2.1 The allocation of responsibilities for managing risk is set out in detail in the Risk Management Framework.

2.2 The Senate has the ultimate responsibility for oversight of risk management across the University.

2.3 The Audit and Review Committee is responsible by delegation from the Senate for ensuring that the University maintains adequate and current risk identification processes and reporting mechanisms.

2.4 The Executive of the University is responsible for advising the Vice Chancellor and Senate in relation to risks of strategic and operational significance, including new and emerging risks.

2.5 Managers and staff at all levels are responsible for developing an understanding of the principles and practice of risk management and implementing them in their work areas and related activities.

2.6 Faculties and Organisational Units are responsible for:

  • Identifying, evaluating and managing risks to the achievement of the University's strategic objectives where such risks are relevant to the Faculty/Organisational Unit operations and the risks to the achievement of their own operational objectives;
  • Implementing and maintaining a review process to monitor the effectiveness of risk control measures and to identify new and evolving risks;
  • Providing an annual assurance to the Executive regarding the extent of compliance with this policy.

2.7 Deans, Heads of School, Directors, Heads of Centres & Institutes, Section Managers and Project Managers of strategic projects and major initiatives are responsible for:

  • Implementing internal processes for identifying, managing and monitoring operational risk;
  • Ensuring that the responsibility for managing risk is communicated to their staff and is incorporated in operational processes.

2.8 The Director, Risk Management is responsible for:

  • Coordinating the risk management framework and providing advice and guidance to assist UWA personnel in managing strategic and operational risk in the University;
  • The establishment of risk registers to assist Faculties and Organisational Units to record strategic, operational and project risk information as required.

2.9 As individuals, all staff and students have an important role in managing risk at the University by caring about the University, its people and partners and its environment.

Related forms:

TRIM File No:


Contact position:

Executive Director Finance & Resources

Related Policies or legislation:

Risk Management Framework