RISK MANAGEMENT

      Corporate risk management involves identifying, measuring, and prioritising events or circumstances that could affect the achievement of strategic objectives and goals of organisations operating with specific missions, visions, and core values, from a holistic perspective. prioritising them, thereby reducing the likelihood of such events or circumstances occurring or minimising the damage they may cause if they do occur, and ensuring that the necessary and sufficient actions are taken in a timely manner to effectively evaluate the opportunities that may arise.

This document has been created within the scope of the corporate risk management system for the identification of risks that may affect the institution's strategic objectives and goals,

• the assessment of risks,
• the determination of decisions to be taken regarding risks (and the monitoring of additional risk management activities),
• and the monitoring of risks.

Risk Universe: Indicates the categories in which the risks to be identified will be assessed. Risks are assessed in two areas: external risks and risks that can be managed within the organisation. Risks can be detailed in sub-categories determined by the organisation (compliance, financial, etc.).

Impact: Refers to the positive or negative consequences that the occurrence of the risk would have on the organisation. This is the area where the impact of the anticipated risk on its associated objective and the organisation is assessed as VERY HIGH (5)/ HIGH (4)/ MEDIUM (3)/ LOW (2)/ VERY LOW (1).

Probability: This area assesses the likelihood of the anticipated risk occurring as NEARLY CERTAIN (5)/ HIGH PROBABILITY (4)/ LIKELY (3)/ WEAK PROBABILITY (2)/ VERY LOW PROBABILITY (1).

Natural Risk Score: Natural risk is the risk level before any risk management activities are implemented by the institution. The natural risk score is calculated by multiplying the impact and probability levels.

Residual Risk Score: Residual risk refers to the risks that remain after the institution has implemented its current risk management activities to reduce the impact and/or likelihood of risk.

The residual risk score is calculated by multiplying the ‘natural risk score’ by the ‘risk management activities effectiveness and adequacy coefficient’.

The Expenditure Units Risk Control Action Plan (Training-3) completed on 03.11.2025 was attended by the Faculty of Health Sciences, the Institute of Postgraduate Education, Gümüşhane Vocational School, and the Directorate of Administrative and Financial Affairs.