Risk Assessment Evaluation and Implementation Process (RAP)

The Association of Governing Boards of Universities and Colleges (AGB) in a survey published in 2009 identified assessing and managing risk as a key strategic initiative for all college presidents and boards. Their survey showed sixty percent of respondents “do not use comprehensive, strategic risk assessment to identify major risks to mission success.” The Stevens Strategy Risk Assessment Evaluation and Implementation Process (RAP) service is a review, analysis, and assessment of an organization’s operations to develop a plan for identifying, categorizing, prioritizing and addressing risk. If an organization can assess risk in a disciplined way, then it can be prepared when downside risks occur and also be able to establish when it is justifiable to accept certain risks in order to take advantage of benefits that might accrue.