Enterprise Risk Management (ERM) Playbook Released
Today, the Chief Financial Officers Council (CFOC) and the Performance Improvement Council (PIC) release the Playbook: Enterprise Risk Management (ERM) for the U.S. Federal Government. The Playbook and accompanying appendices are tools designed to help government departments and agencies meet requirements of the revised Office of Management and Budget Circular A -123. They are also designed to provide high-level key concepts for consideration when establishing a comprehensive and effective ERM program.
The Playbook is the result of an interagency effort convened by the Office of Executive Councils under the leadership of the Chief Financial Officer Council. The group included risk practitioners and cross functional representatives from more than twenty federal agencies who gathered, defined, and illustrated practices applying ERM in the federal context.
The Playbook will help departments and agencies make better decisions based on a more holistic view of risks and their interdependencies. To help affected agencies implement A-123, the Playbook will be updated with information and examples as programs’ and agencies’ ERM capabilities mature. To guide agencies as they implement A-123 and use the Playbook, forums to discuss issues that arise and share best practices related to ERM across the Federal Government will be convened.