Annual Report 2018 _Final

2018 Annual Report Page 85
8.8 Risk Management
Risk identification and evaluation sessions were conducted with all ORBIT College Management in 2018. The process involved the confirmation of objectives, identification
of events, the setting of the risk scoring matrix and identification and evaluation of new risks, the identification and evaluation of existing controls and identification of future
actions and timeframes to mitigate the identified risks. The process was informed by the DHET Risk Management Policy.
Senior Management prioritised 11 risks for quarterly reporting to DHET. These risks included:
Ineffective management of projects
Negative financial impact due to under and over-enrollment
Ineffective inventory management
Absence of college maintenance plan
Poor management of staff and student attendance
Lack of database for assessors and moderators for occupational programmes
Ineffective administration of NSFAS bursaries
Data Management
Leave administration
IT Governance
Ineffective supply chain management process which impacts on other units
The delegated risk officer, with the assistance of the internal audit and assurance unit, is expected to monitor the implementation of existing controls, future actions and to
report quarterly in order to update the College risk register.