Successful Implementation of Enterprise Risk Management in State Transportation Agencies
This report documents and presents the results of NCHRP 8-36 Task 121: Successful Implementation of Enterprise Risk Management in State Transportation Agencies. The primary objectives of this project were to identify, analyze, and describe the qualities of successful implementation of enterprise risk management (ERM) programs in U.S. State Departments of Transportation (DOT). The study involved interviews of DOTs and ERM practitioners to identify state issues associated with ERM implementation and to evaluate the impact these issues have on the quality of its implementation. The results of a survey of 44 DOTs were used to select case study for detailed analysis of five agencies, which were further analyzed based on seven ERM implementation elements. The findings from the study suggest DOTs are motivated to use ERM practices because they believe it will enhance their governance and improve public confidence in the agency and are starting to receive tangible benefits from ERM programs. The research concludes that DOT ERM programs are still in their infancy and agencies realize that mature ERM programs and agency-wide risk management cultures take time to develop. The authors hope that the case studies in this report will help advance the maturity of ERM in the transportation sector.
Resource Types: Research Report
Management Processes: Risk Management