Our Mission Our Vision
We Identify and Evaluate Risk to which the Purdue Community is Exposed and Develop Efficient Ways to Manage and Finance those Risks
Identify and Evaluate Risk….
Through facilitated partnerships with campus community and others, we identify and evaluate present and future risks to which Purdue, the Purdue community, its Trustees, and affiliated organizations might be exposed
Develop Efficient Ways to Manage and Finance Risk…..
Our goal is to efficiently and appropriately manage and finance risks, maximizing Purdue’s overall mission and performance.
Risk Management aspires to be a high-performing department within the Business Services unit. We will serve the campus community and affiliated entities as a highly valued strategic partner and resource; providing innovation, high quality service, and cost efficient tools for appropriately balancing risk and opportunity.
Risks or uncertainties are identified and evaluated within the framework of Purdue’s Enterprise Risk Management model.
Risks or uncertainties are managed and financed through a variety of risk management interventions that include:
- Avoid – remove risk by eliminating the situation or activity that presents risk
- Share/Transfer – transfer risk though an insurance intermediary or through other types of contracts
- Mitigate – setting up policies, procedures, training, etc. that reduce the risks being undertaken
- Accept/Retain – assume risk because some risks cannot be eliminated and there may be value in assuming the risk
The Benefits as Seen by Our Clients
- Better exploitation of opportunities
- More efficient use of resources
- Promotion of continuous improvement
- Enhanced strategic and business planning
- Fewer unwelcome surprises
- Improved focus and perspective on risk
- Improved communication