24 Virtual Brochure – March 2025 Overall risk trends For our risk register analysis, we categorise each strategic risk against one of 23 common risk theme areas and establish normalised scores for both inherent and mitigated or residual risk scores using a 0-10 scale1. We then calculate an average score for each theme. This enables us to compare how different institutions think about and score their strategic risks pre and post- mitigation and to understand how this varies over time. Information about our methodology can be found at Appendix A. 1 We recognise that certain risks may span more than one risk theme areas. For these risks, we have categorised them in accordance with their primary description. For instance, a risk around the downturn in interna- tional applications would be classed as student recruitment risk. If however this risk was framed as a driver placing downward pressure on income under an overarching financial sustainability risk, it would be classed as a financial sustainability risk.
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