Assurance |An opinion based on evidence gained from the review of the College's governance, risk management and control framework | |
|ALARP |As Low As Reasonably Practicable (ALARP). Once each risk has been identified and assessed, an action plan |
| |must be devised to reduce the risk in line with ALARP taking into account the College's risk tolerance, |
| |proportionality and value for money. |
|College Strategic Themes |Core Themes |Enabling Themes |
| |Research |Resources |
| |Education |Organisation |
| |Translation |Influence |
|Exposure |The consequences that arise from the realisation of a risk. |
|Horizon scanning |The systematic review of internal and external activities to enable the early identification of emerging or |
| |changing risks. |
|Inherent risk |The exposure arising associated with a risk before action has been taken to manage it. |
|Residual risk |This is the exposure remaining after action has been taken to manage the risk. |
|Risk |The chance of something happening that has the potential to affect the achievement of our aims or objectives|
| |positively or...
