The latest update to Circular A-123, which OMB released in July, requires agencies to establish an enterprise risk management (ERM) structure to improve accountability. The Obama administration has stressed the importance of using such processes and systems to catch problems early. According to an OMB memo, that “integrated government structure” will improve mission delivery, reduce costs and focus action on key risks.
The playbook is less of a how-to manual than a foundation for applying ERM principles and guidance for meeting the requirements of Circular A-123. Its goal is to be useful for employees at all levels, from stating principles for senior staff to offering practical support for those who manage day-to-day operational risks.
