Chapter 19
ebfollowedby
Chapter15Slides.pptxITS 835 enterprise risk management Chapter 15
Embedding ERM into Strategic Planning at the City of Edmonton
University of Cumberlands
1
introduction
Edmonton –Past and present ERM
Links to strategic plan and to other strategic tools
Selecting and testing tools and framework
Recommended strategic ERM approach
Lessons learned
2
University of Cumberlands
Edmonton past and present erm
Edmonton –Capital of Alberta, Canada
Over 800,00 population
ERM piloted in 2005
CORPORATE Business Risk Planning (CBRP) model
Not fully implemented
Based on COSO
Adopted strategic plan
The Way Ahead
Strategic ERM
3
University of Cumberlands
Links to strategic plan
University of Cumberlands
4
Selecting and testing tools and framework
5
University of Cumberlands
Selecting and testing tools and frameworks
University of Cumberlands
6
Strategic goals and objectives
University of Cumberlands
7
Risks and strategic objectives
University of Cumberlands
8
Iso 31000 risk management
University of Cumberlands
9
Pm2 versus iso 31000
University of Cumberlands
10
Proposed erm framework
University of Cumberlands
11
Lessons learned
Key success factors
Senior management buy-in
Culture of innovation
Consistency of model across goals
Resource requirements for department SMEs
Department accountability for key risks
Process of selecting and implementing framework
Takes linger than expected
No system is perfect
Do not roll out all at once
Clearly define all milestones and deliverables
University of Cumberlands
12
