Enterprise Risk Management

Enterprise Risk Management (ERM) at WSU is a business process, led by senior leadership, that extends the concepts of risk management throughout WSU to support its mission and strategic plan.

The ERM process includes the following steps

1. Identify risks that are common across the WSU enterprise
   • WSU Leadership
   • Risk Registers
2. Assess Risks
   • Risk Score = Impact x Likelihood
   • Immediacy of Risk
3. Risk Mitigation Plan
   1. Assign Owner
   2. Consult Risk Subject Matter Expert
   3. Reduce Risk Score
4. Report back to WSU Leadership