Managing Risk in Government: An Introduction to Enterprise Risk Management : IBM Center for The Business of Government , 2010
Managing Risk in Government: An Introduction to Enterprise Risk Management : IBM Center for The Business of Government , 2010
From the document: "Risk management is not a new concept within the federal sector. What is new is the need to integrate risk management into the strategic and decision-making processes that cut across the organization, and abandon the outdated practice of managing risks within functional silos and stovepipes. The purpose of this paper is to provide federal managers with an overview of ERM and what should be considered when implementing ERM. Enterprise Risk Management (ERM) has been recognized as the process for making this integration work. ERM is defined as “a process, effected by an entity’s… management and other personnel, applied in a strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives” (COSO, 2004)."
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