The U.S. General Services Administration (GSA) and the Partnership for Public Service recently launched the Playbook: Enterprise Risk Management (ERM) for the U.S. Federal Government–providing agencies with key concepts for consideration when establishing an effective ERM program.
The playbook is a tool designed to help agencies meet the requirements of the Office of Management and Budget’s (OMB) revised Circular A-123–a revision that requires agencies to establish an ERM structure to improve accountability. The implementation of Circular A-123 is an opportunity to help agencies improve their processes to get a better view of risk.
To create the playbook, the Office of Executive Councils called together risk practitioners and representatives from more than 20 Federal agencies to gather, define, and illustrate practices in applying ERM in the Federal context. The playbook aims to help departments and agencies make better decisions based on a more holistic view of risks and their interdependencies.
“While this playbook provides the foundation for applying ERM principles and meeting the requirements of A-123, it is not an exhaustive manual with specific checklists for implementing ERM,” the playbook states. “Each agency should determine what tools and techniques work best in its unique context.”