Implementation of the AASHTO Guide for Enterprise Risk Management (2022) / Chapter Skim
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Pages 82-97
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From page 82... ...
82 Other Case Studies During the ERM pilot implementation portion of this project, numerous meetings were held (workshops, COP meetings, peer exchanges, and webinars)
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Other Case Studies 83 synthesizing risks. In a revised process, risk management sta sent forms to various divisions for them to prepopulate with the risks.
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84 Implementation of the AASHTO Guide for Enterprise Risk Management Source: Caltrans. Figure 5.2.
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Other Case Studies 85 Helping the unsheltered population and improving equity are priorities of the governor. e inclusion of these risks reects how risk management adapts to changing priorities.
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86 Implementation of the AASHTO Guide for Enterprise Risk Management leadership changes with middle managers continuing to manage risks even if the top leadership does not emphasize risk management. Despite the leadership changes, the sta continued to focus on important strategic objectives that were identi ed before the leadership change.
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Other Case Studies 87 achieving their objectives. is shows that the bene ts of risk management have become known and that sta are using risk-based approaches.
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88 Implementation of the AASHTO Guide for Enterprise Risk Management Another major risk initiative at VTrans was the development of a risk and resiliency tool. e tool allows analysis of the ood vulnerability of assets up to 100 years into the future based on potential precipitation and the elevation of a site.
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From page 89... ...
Other Case Studies 89 webinar. e webinar, titled "Managing Risks in Uncertain Times," showed how states are using risk management to manage the unpredicted risk of the COVID-19 pandemic and budget reductions.
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90 Implementation of the AASHTO Guide for Enterprise Risk Management analysis supported WSDOT's executives in their deliberations and was forwarded to the governor's o ce to support statewide budget decisions. WSDOT o cials described the agency's scal situation as catastrophic in the early months of 2020.
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Other Case Studies 91 cited was cutting data collection. The loss of data may not have a critical impact and might be a lower priority for the data-collection staff functions.
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From page 92... ...
Source: WSDOT. Expenditure Reduction Rankings Template (Overall Risk: +Additive)
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From page 93... ...
Other Case Studies 93 Source: WSDOT. Potential Risk Categories Core workforce & competency Department performance Environmental Financial Health and safety Legal and compliance Reputation and credibility Transportation System Performance Cross-Functional Considerations Safe operations Preservation & maintenance Data-driven decisions / research Efficient delivery (project/PSE/construction)
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From page 94... ...
94 Implementation of the AASHTO Guide for Enterprise Risk Management and a ranking of the cross-divisional risks. These figures show how the rankings change when viewed individually.
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Other Case Studies 95 objectives, had executive support, and aligned risk treatment strategies and goals. One result of the exercise is that going forward, the risk o ce will work with the budget o ce to evaluate proposed budget decisions.
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96 Implementation of the AASHTO Guide for Enterprise Risk Management e e ort included identifying the major strategic objectives for the agency and how sta rank the risks that were identi ed for the opportunities and challenges in accordance with the investment strategies. e risk sta worked with the O ce of Financial Management to develop an exercise for senior leadership to help identify investment priority areas.
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From page 97... ...
Other Case Studies 97 the O ce of Financial Management. e committee members brainstormed on each and ranked all 50 of the proposals on a 1 to 5 scale speci cally addressing the following ve areas: 1.
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