Comprehensive, systematic risk assessment is essential to the long-term security and reliability of SP and its archived information. In a financial context, risk assessment helps the repository identify and evaluate threats that could disrupt normal operations or impair its ability to meet its Mandatory Responsibilities and contracted obligations. SP began formally documenting and analyzing risks in the fall of 2011. The participants included key personnel from SP, OCUL, University of Toronto Libraries, and the Libraries' Information Technology Services. In many cases, the risk analysis documented threats that librarians, systems administrators, and programmers had already addressed in the design and implementation of the repository.
Please see the Risk Analysis and Management Strategies  document for details. This document identifies threats, assesses their probability and potential impact, and provides an overview of the repository's risk-minimization and prevention strategies.
Digital Preservation Policy Librarian
OCUL Executive Director
OCUL Library Directors
The chief risks associated with risk analysis are (1) failure to review and update the analysis in a timely and consistent manner and (2) failure to acknowledge and analyze foreseeable risks. To minimize the first risk, SP has monitoring commitments in place (see Monitoring Commitments below). To minimize the second risk, SP uses a comprehensive typology of threats as a model for identifying foreseeable and relevant risks (described in the Risk Analysis and Management Strategies document). This model includes financial and organizational risks such as loss of funding, or changes in organizational priorities.
The repository will assess its risk analysis on a regular basis, according to the Review Cycle for Documentation Policy, or whenever there are major changes to its operating environment such as significant staffing level changes, changes in mandate, or funding disruptions.