Improving Government Decision Making through Enterprise Risk Management : IBM Center for The Business of Government , 2015
Improving Government Decision Making through Enterprise Risk Management : IBM Center for The Business of Government , 2015
From the document: "There are various definitions of risk. Terry F. Buss, an international scholar of public administration, writes, “Risk is defined as the uncertainty of outcomes arising from events, laws, policies, decisions, and actions. Risk has to be assessed against the combination of the likelihood of something happening, and the impact that arises if it does actually happen.” He goes on to note that risk is often viewed in negative terms, such as in connection with disasters, but that risk can also refer to positive actions, such as when introducing innovation. 1 The need for effective risk management in government—and the consequences of a failure to adequately address risk—have become increasingly evident. There are many classic examples of inadequate public and private sector risk management in recent decades, such as the Challenger and Columbia Space Shuttle disasters and the Deepwater Horizon oil spill, to say nothing of the public and private failures that led to the financial crisis of 2007–2008."
Authors - Webster, Douglas W., Stanton, Thomas H.Subjects
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