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Got Risk

Although state government historically has been risk-averse, it is important to understand that risk is part of doing business; the key is to achieve balance and to manage it effectively. Therefore, how risk is dealt with depends on the organization and the circumstances.  Being risk-averse is not necessarily in the best interest of an agency or its customers. What is essential is that management has sufficient information to make informed decisions about managing risk.  An ill informed decision usually presents the greater risk.snow plows 
Enterprise Risk Management (ERM) is a process designed to identify barriers to achieving an organization’s objectives and to select a strategy for dealing with those ‘risks’. As important as it is for an organization to consciously select desired outcomes it is equally important to know what risks are being undertaken along the way. Optimizing the natural risk-taking an organization undergoes can lead to great rewards.
 
All state agencies exist to create value for the citizens of the State of Oregon. Effective ERM strategies can help agencies move from strictly risk-averse policy setting tactics to making risk-conscious business decisions.
 
For further information:
  • Benefits of implementing Enterprise Risk Management within your organization (pdf)
  • A how-to guide for assessing risk (coming soon)
  • Tools and templates to guide an Enterprise Risk Management initiative (coming soon)
  • Introduction to Enterprise Risk Management frameworks and standards (coming soon)
  • Guidance on where to go for help with Enterprise Risk Management efforts (coming soon)
  • Roles and Responsibilities for ERM at different levels of the organization (coming soon)