The researcher demonstrates how qualitative grounded theory methodology was used to review whether higher education institutions (HEIs) incorporate risk into their strategic plans. The researcher defines and provides a history of strategic planning within higher education. He also utilizes a framework to identify the best incorporations of risk and risk management within HEIs. Then he employs literature and conducts 18 interviews with higher education professionals were in order to develop theory within the framework. The results of the study fulfill the dissertation's purpose. It illustrates that it is important for HEIs to incorporate risk and risk management into their strategic planning processes. Likewise, the research shows that doing so will encourage HEIs to create contingency plans and help them be better able to pivot when unforeseen circumstances arise. Furthermore, the data point out that while schools can create and implement a successful strategic plan without incorporating risk and risk management, it is evident there will be roadblocks and disruptions along the way. I would like to dedicate this dissertation to my wife who has supported and believed in me for the past 16 years. I am grateful for your encouragement and patience throughout this process. I would not be who or where I am without your love and support. I also dedicate this dissertation to my children. I hope it inspires them to become lifelong learners, pursue their passions and know they can achieve anything they set their mind to. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]