Enterprise Risk Management: Addressing Uncertainty, Improving Decision-Making

About the Program

Category: Risk and Emergency Management (Best in Category)

Year: 2018

The success of any organization depends upon how well it addresses the uncertainties that affect its objectives. Enterprise Risk Management (ERM) is an effective tool that manages uncertainty across an organization, leading to improvements in operations and decision-making. By using the international standard on risk management (ISO 31000) as a framework for its ERM program, Yuma County has saved money, allocated resources more efficiently, attained strategic objectives, analyzed and treated its risks, and improved interdepartmental and intergovernmental communication. The program has served as a model for other public entities and was used by the International City/County Management Association and the Alliance for Innovation as a case study in ERM implementation (City of Charlotte—ERM Final Report, August 7, 2015).