The American Association of State Highway and Transportation Officials (AASHTO) Guide for Enterprise Risk Management (the Guide) explains how state departments of transportation (DOTs) can establish and benefit from an enterprise risk management program. The Guide defines enterprise risk management as “the formal and systematic effort to control uncertainty and variability on an organization’s strategic objectives by managing risks at all levels of the organization.” The Guide explains how the managing of risk at the enterprise level provides agencies with new insights and management and analysis tools designed to increase the likelihood of achieving strategic objectives, thus complementing related management tools such as strategic planning and performance management. The Guide describes how to manage risks at four levels: enterprise, program, project, and activity. It also includes extensive summaries of how risk management is being successfully applied nationally and internationally to typical transportation program areas. Although the Guide is quite extensive, without implementation assistance its full potential may not be realized by state DOTs for many years.
The Guide is available from the AASHTO Bookstore:
The Guide was produced under NCHRP Project 08-93, “Managing Risk Across the Enterprise: A Guide for State Departments of Transportation.” More information is available at the NCHRP project web page:
OBJECTIVE
The objective of this project is to develop and execute a dissemination and implementation plan to create awareness of the Guide, and facilitate successful implementation of enterprise risk management by state DOTs. For purposes of this project, “successful implementation” is the documented adoption and use of the research products presented in the Guide by practitioners within at least three state DOTs.
