Applying ERM Principles to Functional Divisions: A Federal Grants Risk Management Case Study – 2018
In this 2018 Summit presentation… Today, buzz words like “enterprise risk management” (ERM) and “accountability” abound in the public and private sectors. But how do they really work operationally? Faced with an $11 billion budget for grant programs but finite internal resources to manage them, the Health Resources and Services Administration (HRSA) sought a way to use risk management to improve accountability and oversight of grants. Seeking a risk-based, data driven approach to strategic decisions, HRSA embarked on a one-of-a-kind assessment of current risks and related risk management practices, and the development of risk tools for decision makers.
This presentation provides a case study for operationalizing risk management in the grants world, and more generally at the sub-agency level. Those seeking to integrate risk management into their operations heard about project challenges and successes, key risk findings and recommendations, and considerations when taking on such a project. During the presentation, the speakers:
Explained the context within which HRSA determined to launch such an ambitious study, and the questions faced in developing the project;
Briefly walked through the tools developed to document and assess key risks and opportunities;
Described the findings of the study and how ERM principles were applied; and
Discussed the challenges and limitations faced with a risk management study of this kind.
Disclaimer of Warranty; Due Diligence. The resources and associated files are being offered "as is," and AFERM and the contributing authors disclaims all warranties of quality, whether express or implied, including the warranties of merchantability and fitness for particular purpose. The resource content recipient acknowledges that it has not been induced by any statements or representations of any person with respect to the quality or condition of the resource and associated files and that no such statements or representations have been made.
Limitation of Liability. Neither AFERM, its officers, directors, employees, agents, or contractors nor any contributing authors will be liable for any indirect, special, consequential, or punitive damages (including lost profits) arising out of or relating to these resources and associated files (whether for breach of contract, tort, negligence, or other form of action) and irrespective of whether the AFERM or the contributing authors have been advised of the possibility of any such damage.