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Risk Management Policy

Bd. Min. 5-26-78.

85.010 RISK MANAGEMENT POLICY

A. Concept of Risk Management
  1. Our concept of Risk Management, upon which this Statement is based considers it to be a managerial function to prevent injury to or death of persons, to protect property and to prevent loss of income to or increased expenses for the University.
  2. Since Risk Management primarily relates only to the possible occurrence of fortuitous events resulting from all University operations and on all of its premises, the human and fiscal considerations of these operations demand proper planning in the anticipation of such events actually occurring, rather than reacting to them after they occur with crash-type programs.
  3. Effective Risk Management must result in reasonable protection against accidents causing injury to persons and managerial planning to reduce or control fortuitous costs, improve the cash flow position and the protection of other University assets from loss due to the result of an unplanned event, the fiscal results of which were not budgeted.
B. University Policy
  1. We affirm and subscribe to the principles that the University of Missouri has an inescapable obligation to furnish facilities and an environment that will provide reasonable protection from injury and property damage for employees, students and the public and to be a good steward of funds coming into its possession and to preserve its assets.
  2. To support the acceptance of these principles and to facilitate their incorporation in all departments and operations of the University, we hereby establish a total program of Risk Management for the University.
  3. As regards that part of the program of Risk Management relating to the prevention of injury to or death of persons, the University will strive to use, as University Compliance Guidelines, applicable National Consensus Standards or Codes. However, the use of such Standards or Codes as a University Compliance Guideline shall not be construed as a formal, voluntary acceptance of or a decision to at all times comply with such Standards or Codes.
  4. In order for the Risk Management program to be effective, it will be necessary for each employee, particularly those who supervise other employees and who use or are responsible for University assets, to act as individual Risk Managers in the program's implementation.
C. Implementation of Policy

Implementation of this policy shall be by directive from the President of the University and the methods, procedures and organizational structures used in implementation shall be determined by the President.

D. Sovereign Immunity

Nothing contained in this Statement shall be interpreted or otherwise construed to mean that the sovereign immunity of the University is being waived in whole or in part.

Reviewed 2011-01-24.

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