Implementation of the AASHTO Guide for Enterprise Risk Management (2022) / Chapter Skim
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13 The Pilot Risk Implementation Process The project team provided technical support to the three pilot agencies based on the AASHTO Guide for Enterprise Risk Management, a product of NCHRP Project 08-93. The risk management process discussed in the Guide (shown in Figure 3.1)
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14 Implementation of the AASHTO Guide for Enterprise Risk Management Source: Proctor et al.
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The Pilot Risk Implementation Process 15 pilot agency to formalize its risk management effort if it had not already done so. The workshop included elements such as: • The definition of risk and risk management, which emphasizes the managing of uncertainty, variability, opportunities, and threats.
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16 Implementation of the AASHTO Guide for Enterprise Risk Management 3.3 Key Pilot Implementation Objectives Risk management can be applied at the enterprise, program, project, and activity levels. However, the pilot implementations were focused on enterprise risks.
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The Pilot Risk Implementation Process 17 After the causes and effects of risk were documented, the workshop participants brainstormed and estimated the consequence and likelihood of each risk. A risk matrix such as the one in Figure 3.3 was provided for rating and prioritizing the risks.
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18 Implementation of the AASHTO Guide for Enterprise Risk Management 3.9 Mitigation Implementation and Monitoring The teams then brainstormed on these top risk mitigation strategies and selected one or two for pilot implementation. For each selected mitigation, an implementation champion, owners, leads, and team members were identified.
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