Risk management may be defined as taking appropriate measures to minimize the risk to assure the safety and well-being of members and non-members interacting with a chapter, province or the Fraternity in anyway.

Policy:
The Risk Management Policy of the Kappa Psi Pharmaceutical Fraternity, Inc. involves an ongoing educational program which includes the provisions covered below as past of the collegiate chapters, provinces and international leadership training sessions and publications. All alumni, especially those working with the collegiate chapters, are encouraged to take training in risk management and be positive role models for the collegiate member by their responsible behavior and by supporting risk management policies.

Each Chapter and Province will:
Become cognizant of ways to reduce risk by working to identify any action which could result in injury or death.
Encourage members to plan all events with incorporated measures that will protect each member or non-member.
Analyze the risks involved in actions before they are taken and to plan events so that exposure to liability is minimized.
Remove all risks associated with hazing and alcohol. The Kappa Psi Pharmaceutical Fraternity, Inc. has well-established policies on hazing (this Fraternity does not condone nor will tolerate hazing by any member, chapter or province) and alcohol abuse. All members of the Fraternity, collegiate or alumni, are aware of these policies, and pledges are also instructed on these policies.
Prevent situations that facilitate illegal drinking, the abuse of alcohol or substance abuse in any form.
Conduct an 'Activity Risk Assessment' before hosting a function for the chapter, province or Fraternity. A list of assessments to be considered shall be developed by each chapter, province or Fraternity, and may include the following: