Decision Making Framework — Risk Acceptance Form and Tool (RAFT)

The purpose of this form is to provide a consistent framework for the Service that can be leveraged within a unit’s existing governance or management approval processes to clearly document business decisions in the context of risk appetite and/or acceptance. This document can be used in various ways, including the following:

1) a framework to assess various options in making decisions for achievement of objectives,

2) a guide to articulate rationale behind those decisions within the context of risk appetite, and

3) a documentation trail to support these business decisions. Refer to the end of this document for instructions and additional guidance regarding use of the tool.

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For this tool, right-click and save the document to your computer for full use.

“Risk Appetite” Statement – USAID (June 2018)

The purpose of the Risk Appetite Statement (hereinafter “Statement”) is to provide USAID (or “Agency”) staff with broad-based guidance on the amount and type of risk the Agency is willing to accept – based on an evaluation of opportunities and threats at an organizational level, and in key risk categories – to achieve the Agency’s mission and objectives. The Statement is a critical component in USAID’s overall effort to achieve effective Enterprise Risk Management (ERM), and the leadership of the Agency reviews and updates the Statement annually as the ERM program matures and needs evolve.
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ERM in Government Textbook: “Enterprise Risk Management: A Guide for Government Professionals”

Enterprise Risk Management: A Guide for Government Professionals is a practical guide to all aspects of risk management in government organizations at the federal, state, and local levels. Written by Dr. Karen Hardy, one of the leading ERM practitioners in the federal government, the book features a no-nonsense approach to establishing and sustaining a formalized risk management approach, aligned with the ISO 31000 risk management framework. International Organization for Standardization guidelines are explored and clarified, and case studies illustrate their real-world application and implementation in US government agencies. Tools, including a sample 90-day action plan, sample risk management policy, and a comprehensive implementation checklist allow readers to immediately begin applying the information presented.

The book also includes results of Hardy’s ERM Core Competency Survey for the Public Sector; which offers an original in-depth analysis of the Core Competency Skills recommended by federal, state and local government risk professionals. It also provides a side-by-side comparison of how federal government risk professionals view ERM versus their state and local government counterparts.

Enterprise Risk Management provides actionable guidance toward creating a solid risk management plan for agencies at any risk level. The book begins with a basic overview of risk management, and then delves into government-specific topics including:

  • U.S. Federal Government Policy on Risk Management
  • Federal Manager’s Financial Integrity Act
  • GAO Standards for internal control
  • Government Performance Results Modernization Act

The book also provides a comparative analysis of ERM frameworks and standards, and applies rank-specific advice to employees including Budget Analysts, Program Analysts, Management Analysts, and more. The demand for effective risk management specialists is growing as quickly as the risk potential. Government employees looking to implement a formalized risk management approach or in need of increasing their general understanding of this subject matter will find Enterprise Risk Management a strategically advantageous starting point.

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