Why we do Enterprise Risk Management
Enterprise Risk Management provides structure to identify, assess, and manage uncertainty and variability across the organization. By organizing how we think about risk, we can more effectively allocate resources, enhance decision making processes, and manage risks to our mission and goals.
How we use risk management
Our Enterprise Risk Management team develops, promotes, and manages a formal and continuous process to identify, assess, prioritize, and manage risk across the department.
Risk management levels
Enterprise
Risks that disrupt the achievement of MnDOT’s vision, mission and strategic objectives. These are broad areas like financial, legal, health and safety, business performance, public perception, and more. Enterprise risks are monitored and assessed at the agency and program levels. Leadership provides direction on critical priorities. Management works to advise and inform leadership of risks that need to be managed.
Program
Risks identified by program managers in collaboration with assistant commissioners. They disrupt MnDOT’s ability to deliver products and services, meet performance targets, and accomplish business objectives.
Project
Risks identified by MnDOT staff that threaten the scope, schedule, cost or quality of agency projects and activities. Office directors, project managers and staff are expected to routinely identify and manage risks to their activities as functions.
Enterprise Risk Register
The Enterprise Risk Register, referred to as the "ERM White Papers," aims to provide context, strategic connections and related plans for each of MnDOT’s 12 main enterprise risks. It provides applicable performance indicators, potential indicators, and performance outcomes for the risks.