Trinity’s Risk Register outlines the potential threats to the ongoing operation of the organisation and the mitigation measures in place to minimise the likely occurrence of these threats. It also enables us to assign ownership of each risk so that individuals within Trinity can develop and track mitigation strategies. The risk register is managed by the Office of the COO who assess the risks at regular intervals. The process for preparing the register is as follows:
1. Establish the context - What are the most likely threats to the operation of Trinity?
2. Identify the risks - What can happen and how can it happen?
3. Analyse the risks - What is the likelihood and consequences of the risk occurring?
4. Evaluate the risks - Assess the major and minor risks for mitigation measures
5. Treat the risks - Develop mitigation measures where risks can be treated
Once the risks have been identified with each area across the university, and a comprehensive risk assessment has taken place, the register will be finalised and presented to EOG and Board for approval.