Don't Delay - The Time Has Come to Use the Full Potential of Enterprise Risk Management to Reduce Costs and Enhance Program Delivery
Dec 01, 2011
From the Government Institute
All levels of government are grappling with budget constraints and uncertain and unsustainable long-term fiscal paths. Governments are also challenged to be more effective meeting the expectations of the public while addressing these stark fiscal realities.
Enterprise Risk Management (ERM) offers the potential to achieve significant savings by eliminating or streamlining processes that divert staff from constructive, mission-oriented activities, or delay and burden systems without tangible operational or accountability results.
The article, reprinted with permission from the Association of Government Accountants (AGA), was originally published in the Winter 2011 Journal of Government Financial Management, discusses how ERM can help an agency, department or program ensure it is supporting its highest priorities. The article also identifies potential "cost takeout" areas and weaknesses or gaps in controls that could lead to ineffective and inefficient program delivery, and/or fraud, waste or abuse.