New Strategies for Managing Risks: A Balancing Act for Boards

Risk is inherent in academe, yet colleges and universities still lag behind business and industry in the development of enterprise-risk-management strategies. At Duke University, top leadership took ownership of campus risk. With strong engagement from trustees, they developed a comprehensive strategy for risk management and evolved into an institutional culture that is attuned to risk-related challenges. The experience at Duke offers lessons and insights for universities that seek to bolster their own approach to risk management and mitigation.