Managing Risk and Performance

Policy makers and government risk managers must answer the question, What are the risks that could prevent my agency from achieving its mission and objectives? Within a single government agency, any number of diverse risks may be present, from terrorist attacks to failure to comply with legal or policy requirements to the unexpected loss of talented employees. As is the case with major global corporations, the agencies of the U.S. government must be acutely aware of the omnipresent risks that potentially threaten their missions, and effective policies must be implemented to mitigate those risks. Sound risk management empowers a government agency to be more agile and efficient as it navigates increasingly turbulent waters in the areas of domestic politics, budgetary constraints, and media and congressional scrutiny, to name a few. Properly executed risk management strategies are also capable of delivering bottom-line benefits to government agencies in the form of cost savings and increased operational efficiency. The challenge facing agency heads, risk managers, and public sector decision makers is finding the proper balance within their risk management strategy, one that ensures that risks to the agency's mission are neutralized without impeding the critical functions and productivity of the agency. In Managing Risk and Performance: A Guide for Government Decision Makers, Thomas H. Stanton and Douglas W. Webster introduce you to the fundamental principles of risk management strategies and how to apply them within government agencies. With real-world examples-of successes and failures-from within the federal government and direct lessons from the global financial crisis, Stanton and Webster provide a comprehensive road map for creating, managing, and supporting sound risk management programs within government agencies.