Status of ERM in the U.S. Federal Government
Guest Post by James Kline (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
In 2015 the Office of Management and Budget (OMB) issued Circular A-123. It requires all federal agencies to implement Enterprise Risk Management (ERM). ERM is a methodology which allows an organization to, in a systematic manner, identify, prioritize and reduce the adverse impact of risks events, such as fraud, cyber-attacks, mismanagement, and natural disasters, that could prevent the organization from accomplishing its mission and objectives.
For the past several years federal agencies have been surveyed to determine the extent of the ERM implementation. This article reviews the results of the past four years. [Read more…]