Risk Management
Georg August University has had a risk management system in place since 2006. This makes it one of the first universities in Germany to institutionalize risk management. Since then, the concept has been continuously adapted and developed to meet the foundation university's current requirements for effective risk management.
The central objective of the university's risk management is to provide the university's management and other governing bodies with timely and regular information relevant to the university's development. Furthermore, with the help of risk management, decision-makers should receive recommendations for action that enable the initiation of appropriate (counter)measures. As a component of university controlling, risk management should create transparency, optimize the flow of information and improve the ability to act.
Each individual university member is called upon to deal with risks in a self-responsible, conscious manner. The university management promotes this through an open information and communication policy as well as through systematic further training of the employees*. The establishment of a risk culture can be understood as a cornerstone of a successful risk management system.
The foundation university sees risk management as more than the mere fulfillment of legal requirements according to § 53 HGrG in the context of the annual audit. Through preventive and proactive risk management, the university's internal risk management system contributes to increasing the academic performance of the Foundation University.
The University Foundation Committee and the Presidential Board are informed annually as part of the annual risk report. The University Risk Committee is informed about the risk situation on a quarterly basis.