Baker Tilly's Insights on How to Navigate the Storm: Key Crisis Management Risks and Questions for Colleges and Universities

NORTHAMPTON, MA / ACCESSWIRE / May 17, 2024 / Baker Tilly
Authored by Adrienne Larmett

In the tumultuous landscape of higher education, crisis management has (or should) become an indispensable aspect of institutional governance. From natural disasters to financial turmoil, and now in the era of global pandemics and political activism, colleges and universities face an array of challenges that demand swift and effective response. As custodians of these institutions, board members and trustees bear the weighted responsibility of ensuring preparedness and resilience in the face of crises. To navigate these turbulent waters, they must pose critical questions to institutional leadership, probing the depth and efficacy of their crisis management plans.

Understanding the risks

Before delving into the questions, it's crucial to recognize the diverse risk array that colleges and universities face:

• Natural disasters: Floods, hurricanes, earthquakes and wildfires pose significant threats to campus infrastructure and student and staff safety
• Public health emergencies: The emergence of infectious diseases, such as the COVID-19 pandemic, highlights the need for robust health protocols and contingency plans
• Financial instability: Economic downturns, fluctuations in enrollment and budgetary mismanagement can jeopardize the financial viability of institutions
• Cybersecurity breaches: With the increasing reliance on digital infrastructure, universities are vulnerable to data breaches, ransomware attacks and other cyber risks
• Political activism: Sociopolitical upheavals, protests and civil disturbances can disrupt campus activities, compromise student safety and impact institutional operations
• Reputational damage: Scandals, controversies or mishandling of sensitive issues can tarnish the institution's reputation and erode public trust

Key questions for board members and trustees

To effectively oversee crisis management efforts, higher education board members and trustees should pose the following probing questions to institutional leadership.

Preparedness assessment

• How frequently are crisis management plans reviewed and updated to address evolving risks?
• Are there clear protocols for communication, decision-making and resource allocation during emergencies?
• What mechanisms are in place to assess the institution's vulnerability to various risks?

Resource allocation