Agency enterprise risk management
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. ERM treats managing risk holistically and strategically and has early roots in the W. Edwards Deming principle of “breaking down barriers between departments for a win-win system of cooperation within the organization” (The W. Edwards Deming Institute).
Incorporating ERM at state agencies
In 2006, Washington state 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 (RMD) risk specialists used to help state agencies assess their risk management commitment and activities.
RMD helps agencies using ERM
RMD is committed to assisting agencies understand and apply ERM through ongoing training, information and resources. Part of this educational process is made available through the tools listed below:
- Risk Management Basics – This RMD manual defines ERM in detail.
- 2010 ERM Maturity Model – Agency implementation is measured through this tool and progress is captured and reviewed at the “enterprise” level by RMD and by the Governor’s Government Management and Accountability Performance (GMAP) program.
- ERM Best Practice Highlights – A compiled list of agency best practices provided to OFM. This list highlights some agencies’ ERM program efforts and is provided in an effort to share news about these best practices with all agencies.
- ERM Training – OFM RMD offers training for large or small groups that walks participants through the ERM process step-by-step. For agencies wanting to provide their own training, we provide this PowerPoint presentation and can offer “train-the-trainer” training. If you would like to set up a training session, please contact Drew Zavatsky at 360-407-8155 or Kim Haggard at 360-407-8139.
