Managing Risk in Information Resources and Services Provision in University Libraries in Nigeria

Abstract

Risk management forms an integral part of the Library’s planning and monitoring process and its internal control framework. It is therefore a vital element of good governance and management. This paper discusses the
strategies for managing risks in the provision of information services in University Libraries. The concept of risk and risk management were highlighted. Risk is defined as any impediment to accomplishing university
library’s goals of providing relevant and timely information services.  Strategies for managing risks such as risk avoidance; risk assumption; risk transference; insurance etc were discussed. The study concludes that the focus of risk management is the identification and treatment of risks to  organizations. Its objective is to add sustainable value to all the activities and functions of the University library and to increase the probability of success, and reduce both the probability of failure and the uncertainty of achieving the library’s overall objectives.