WHO: Risk Management
WHAT: Implement an Enterprise Risk Management system whose goals include:
WHEN: Implementation of Enterprise Risk Management is not a “quick-fix”. It is a six
step process spanning a 60 month period. Progress is largely sequential but there some
overlap among the steps. In the initial Step is time consuming, often with little visible
progress. The pace can be glacial. Progress becomes more apparent in Steps 2 and 3.
Initial success determines subsequent progress.
Step 1: 0-18 months
Step 2: 12-30 months
Step 3: 24-42 months
Step 4: 36-54 months
Step 5: 48-60 months
Step 6: 60-60+ months
WHERE: Activity chiefly occurs in Plano. Some outside travel may be undertaken to
observe functioning municipal programs.
WHY: An enterprise-wide view of risk will ensure that the City is able to meet its strategic
objectives and plan for its future.
Develop support for an enterprise-wide approach to risk management.
Educate all employees to become risk owners and risk problem-solvers.
Reporting and communication will be robust and continual, so that
All strategic decisions will be made within a framework of the City’s risk
There will be full knowledge of the risks and rewards of each decision.
Protect the City from risks that would prevent it from achieving its strategic
Increase the efficiency and effectiveness of Operations by decreasing the
frictional costs associated with risks and optimizing the allocation of resources.
Increase opportunities by bringing risks within the City’s risk appetite
Increase stakeholder value.
Improve the City’s competitive advantage.