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Enterprise Risk Management at MnDOT Joint Session of the AASHTO Subcommittee on Risk Management and Transportation System Security and Resilience July 12, 2018 Source: wired.com

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Page 1: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Enterprise Risk Managementat MnDOT

Joint Session of the AASHTO Subcommittee on Risk Management and Transportation System Security and Resilience

July 12, 2018

Source: wired.com

Page 2: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Overview

2

1.ERM at MnDOT: Where and How enterprise

risk management is happening at MnDOT

2.Gaps & Maturity: How we are integrating and

improving our approach

Page 3: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Where we started in 2013

3

Page 4: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Management of risk at all levels

4

Page 5: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Update to our ERM Framework

5

What is Enterprise Risk Management

Why is it important to actively manage risks

Where is the process of risk management being used at

MnDOT

How are key risk management tools informing our decision

making

Who is responsible for Enterprise Risk Management

Page 6: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Process of managing risk

6

Establish Context(Goals/Strategy/Objectives)

Assess Risks

Manage Risks(Response)

Monitoring & Communication

Page 7: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

IntegrationEnterprise Agency Risk Register

7

Who Acts: Executive & Senior Leadership Teams

Risk Management Tool(s): *Enterprise Agency Risk Register(composite of Capital, Governance, Operating and FHWA identified agency risks)

Who Acts: Transportation Program Investment Committee (TPIC)

Agency Goals: Statewide Multimodal Transportation Plan Objectives

Risk Management Tool: Investment Opportunity Plan (IOP)

Who Acts: Governance Council

Agency Goals: Safeguarding MnDOT Goals

Risk Management Tool(s): • Safeguarding MnDOT Risk Assessment Plan• MnDOT Policies

Who Acts: Resource Investment Council (RIC)

Agency Goals: SOP Goals

Risk Management Tool: SOP Risk Register

FHWA Risk Assessment

Capital Governance Operating

Page 8: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Enterprise Agency Risk Register

8

Enterprise Agency Risk Register

FHWA/MnDOT Risks

Capital

Governance

Operating

Page 9: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Enterprise Risk Management Practice at MnDOTP

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& S

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rise

Pro

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/ A

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Who Acts: Transportation Program Investment Committee (TPIC)

Risk Management Tool(s): • Risk assessments in capital investment

plans • Investment Opportunity Plan (IOP)

Who Acts: Resource Investment Council (RIC)

Risk Management Tool(s): • SOP Risk Register

Capital Operating

Who Acts: Management Groups (PCMG, District Engineers, Office Directors, etc.)

Risk Management Tool(s):· P & S Investment Impact Analysis· Asset Management Risk Register· Office & District Business Plans

Who Acts: Management Groups (PMG, PCMG, District Engineers, etc.)

Risk Management Tool(s):· MnSHIP risk assessment and other risk-

based capital investment plans· Asset Management Risk Register· District Risk Management Plans (DRMP)

Who Acts: Office Directors, District Engineers, Project Managers, and MnDOT Staff

Risk Management Tool(s):• Project Risk Registers

Who Acts: Office Directors, District Engineers, Office Managers, and MnDOT Staff

Risk Management Tool(s):• Office & District Business Plans

Who Acts: Governance Council

Risk Management Tool(s): • Safeguarding MnDOT Risk

Assessment Plan• MnDOT Policies

Governance

Who Acts: Control Environment Leads, Data Domain Stewards, Policy Owners

Risk Management Tool(s):· Control Environment Assessments· MnDOT Policies

Who Acts: Office Directors, District Engineers, Office Managers, and MnDOT Staff

Risk Management Tool(s):· MnDOT Policies· Office & District Business Plans

Who Acts: Executive & Senior Leadership TeamsRisk Management Tool(s): *Enterprise Agency Risk Register (composite of Capital, Governance, Operating and FHWA identified agency risks)

Page 10: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Enterprise Risk Management Practice at MnDOTP

rogr

am /

Pro

du

cts

& S

erv

ice

sEn

terp

rise

Pro

ject

/ A

ctiv

ity

Who Acts: Transportation Program Investment Committee (TPIC)

Risk Management Tool(s): • Risk assessments in capital investment

plans • Investment Opportunity Plan (IOP)

Who Acts: Resource Investment Council (RIC)

Risk Management Tool(s): • SOP Risk Register

Capital Operating

Who Acts: Management Groups (PCMG, District Engineers, Office Directors, etc.)

Risk Management Tool(s):· P & S Investment Impact Analysis· Asset Management Risk Register· Office & District Business Plans

Who Acts: Management Groups (PMG, PCMG, District Engineers, etc.)

Risk Management Tool(s):· MnSHIP risk assessment and other risk-

based capital investment plans· Asset Management Risk Register· District Risk Management Plans (DRMP)

Who Acts: Office Directors, District Engineers, Project Managers, and MnDOT Staff

Risk Management Tool(s):• Project Risk Registers

Who Acts: Office Directors, District Engineers, Office Managers, and MnDOT Staff

Risk Management Tool(s):• Office & District Business Plans

Who Acts: Governance Council

Risk Management Tool(s): • Safeguarding MnDOT Risk

Assessment Plan• MnDOT Policies

Governance

Who Acts: Control Environment Leads, Data Domain Stewards, Policy Owners

Risk Management Tool(s):· Control Environment Assessments· MnDOT Policies

Who Acts: Office Directors, District Engineers, Office Managers, and MnDOT Staff

Risk Management Tool(s):· MnDOT Policies· Office & District Business Plans

Who Acts: Executive & Senior Leadership TeamsRisk Management Tool(s): *Enterprise Agency Risk Register (composite of Capital, Governance, Operating and FHWA identified agency risks)

Page 11: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Minnesota Where & HowCapital Risk Management

11

Page 12: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

12

Minnesota Where & HowGovernance Risk Management

Page 13: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

13

Minnesota Where & HowOperating Risk Management

Page 14: Enterprise Risk Management at MnDOT Management Tool: SOP Register FHWA Risk Assessment Capital Governance Operating Enterprise Agency Risk Register 8 Enterprise Agency Risk Register

Gaps & Challenges

• Agreement on risk tolerance

• Risk tools, and processes that support them, are challenging to integrate across the organization

• Sustaining effort without overwhelming

• Inclusive vs. Focused