Enterprise Risk Management is becoming a key part of agency data strategies. By identifying and managing risk in government programs, management can become more effective. Ken Fletcher, president of the Association for Federal Enterprise Risk Management, says that the technique’s best practices are becoming more mature.
“One of the biggest best practices is the application of maturity models. There has been a lot of variation over the years. We are starting to see some consistency in using the maturity model to execute and develop multi-year implementation plans across the agency,” Fletcher told Government Matters. “Our small agency community of practice has developed a maturity model that many of the smaller government agencies are now beginning to adopt. The IG community has come out with a maturity model with the application of ERM within the inspector general space. We are starting seeing consistencies, but within that broader approach, there’s still a need to, in my view, to tailor the model where it makes sense.”
Sean Vineyard, vice president for Advancement & Outreach at AFERM says that the ERM environment needs more continuity if it’s going to succeed.
“We’re in an environment where there’s a lot of churn in senior leadership, Which is fine, but you want to make sure that there is this consistency. I think part of that comes down to breaking down the barrier of understanding some of the concepts…” Vineyard said. “How we create value in those organizations when there is that turnover is to make sure people are bought in at the level where people are there for 10 to 20 years, so everybody realizes the value. It is less about the process and check the box. It’s more about here’s what we are getting from this.”