Enterprise Risk Management in Government

Enterprise Risk Management (ERM) is the process by which organizations identify and manage a broad portfolio of significant risks in an integrated way. ERM is foundational for organizations of all sizes to ensure that they are prepared to the extent possible to mitigate and/or capitalize, as appropriate, on risks to their organizational strategy. ERM is a fast-growing discipline, especially for government organizations and agencies. After discussing some of the top challenges for ERM in government, this article draws from APQC’s Evolving Practices in Enterprise Risk Management study to provide guidance and tips. Along the way, we provide examples of how government organizations apply these principles to illustrate how some the best ERM teams carry out their work.