Risk Appetite
Avoid
Unwilling to accept risk in this area to whatever extent possible; threats posed will have the
potential to cause significant damage to the University, either in terms of compliance, health
and safety, reputation, or financial sustainability. Detailed and robust plans for risk mitigation
and control must be in place.
Averse
Prepared to accept only low levels of risk, with limited appetite for pursuing high-risk activities.
Where risks are accepted, potential benefits should be significant, with rigorous controls in
place to limit the potential for harm. Court approval required where risks are accepted as a
consequence of pursuing objectives.
Moderate
Pursuit of opportunities is encouraged where the outcomes and projected benefits support the
University's strategic vision. The risk identification and management process must be robust,
with controls and mitigations in place, and clear processes for monitoring and control
established.
Open
Willing to consider all projects or activities to achieve objectives, even where there are elevated
levels of associated risk and where failure is possible. The projected benefits should be
significant, and in line with institutional objectives. Reasonable measures for monitoring and
control of risk should be in place.
High
Risk taking is encouraged in the pursuit of opportunities and objectives, through original,
creative, pioneering projects or activities, providing due diligence is applied with risk controls in
place. The chance of failure can be high and will be tolerated, providing on balance that the
potential returns or benefits are significant.