Promote and facilitate a risk-aware culture across the Federal Government by developing a Federal Enterprise Risk Management (ERM) framework and strategies.
Promote integrated strategy-setting with performance and cost management practices that are supported by quality data that agencies
can rely on to manage risk in creating, preserving, and realizing value. Drive resource prioritization and allocation by leveraging
risk-informed decisions across the Federal Government.
The Federal Government provides essential programs and services to the American people in an environment of increasing complexity,
disruption, and rapid change. Agencies face greater scrutiny and expectations from stakeholders to manage these risks more effectively,
yet the government, by and large, has adopted a risk-averse culture that has limited discussions about risk appetite and tolerance.
Budget uncertainties present agencies with difficult decisions on priorities and trade-offs, especially when faced with increasingly
burdensome compliance and reporting mandates. Without risk-informed decision-making, these tradeoffs are often made at lower levels
Approaching the 3-year anniversary of the introduction of ERM in OMB guidance presents an opportunity for the Federal Government to greatly
advance the maturity of ERM to improve program mission accomplishment, contingency planning while driving risk-informed decision making, and