Agency Enterprise Risk Management Toolkits
Enterprise Risk Management (ERM) is a rigorous approach to assessing and addressing risks from all sources that threaten the achievement of an organization’s strategic objectives. Simply stated, ERM treats managing risk holistically and strategically. It has early roots in the W. Edward Deming principle of “breaking down barriers between departments for a win-win system of cooperation within the organization” (The W. Edwards Deming Institute).
In 2006, the State of Washington joined other private and public sector entities striving to implement ERM as a corporate or statewide practice. Initial efforts involved a maturity model assessment tool, which Risk Management Division risk specialists used to help state agencies assess their risk management commitment and activities. In building on that and furthering ERM principles, agency risk management progress is now captured and reviewed at the “enterprise” level through Government Management and Accountability Performance (GMAP).
The Risk Management Division is committed to assisting agencies in understanding and applying ERM through ongoing information and resources. Part of this educational process is made available through “toolkit” topics designed to help agencies build ERM expertise. For each of the toolkit topics listed below, there is a definition, key elements, and a useful resources listing section.
