The California Department of Transportation (Caltrans) is under two risk management mandates. One is the federal requirements under the Moving Ahead for Progress for the 21st Century Act (MAP 21). Continue reading
Introduction
In 2015, the California Legislature passed the State Leadership Accountability Act (SLAA). The act updated previous legislation. The purpose of the update was to broaden the reporting requirements to operational and programmatic activities. It reemphasized the responsibility of management to establish and maintain effective systems of internal controls. It also set up bi-annual reporting requirements and included risk assessment as part of the internal controls. To assist departments and agencies with the risk assessment, in 2017, the Department of Finance published the State Leadership Accountability Act Risk Catalog. Continue reading
Introduction
The 2012 Moving Ahead for Progress in the 21st Century Transportation Act (MAP 21) requires state departments of transportation to develop a Transportation Asset Management Plan (TAMP). The TAMP is to include a Risk Based Asset Management Plan (RBAMP). The two plans must be certified by the Federal Highway Administration (FHWA) by June 30, 2019. Continue reading
Houston Texas is one of the few local governments in the United States with an Enterprise Risk Management (ERM) based risk assessment approach. This policy was reviewed and updated in 2016. This was the latest step in the city’s use of risk assessment.
From 1996 to 2004, the city outsourced risk assessment. The assessment was performed every five years. Beginning in 2009, the city’s audit department took over the assessment. This article discusses the risk assessment process used by the City of Houston. Continue reading
Introduction
A Risk Register is a key product of the Enterprise Risk Management Methodology. The register provides information which allows them to prioritize the risk and to determine the action necessary to mitigate its impact.
This piece lists the major elements of a risk register. It also presents portions of the Strategic Risk Register for the City of Saskatoon Canada. The specific example comes from the inherent risk of Disengaged and Uninformed Citizens. Saskatoon is used because it has one of the better formats encountered so far. Continue reading