What We Do
MnDOT’s Enterprise Risk Management Office is charged with developing, promoting, and managing a formal and continuous process used to identify, assess, prioritize, and manage risk exposures across the department
Why We Do it
Risk Management at MnDOT
The ERM office supports MnDOT leaders at all levels to routinely evaluate the risk implications of their decisions and actions in pursuit of the highest priority agency goals and objectives in order to protect and enhance Minnesota’s quality of life.
The Definition of Risk
Risk is the effect of uncertainty on objectives.
Levels of Risk Management
Strategic-level risks impede the achievement of MnDOT’s vision, mission and Key Results. These are broad strategic risk areas and include financial, stakeholder, reputation, legal and compliance, safety and health, and business performance and continuity risks. Strategic risks are monitored and assessed at both the strategic and business-line levels.
Business-Line-level risks are identified by business-line management groups These risks impede the agency’s ability to deliver products and services, meet performance targets and accomplish business objectives. MnDOT’s performance metrics provide accountability.
Project-level Risks are risks identified by project managers that threaten the scope, schedule, cost, or quality of agency projects. Depending on the scope and complexity of the project, these risks may have strategic or business-line consequences that warrant inclusion in the ERM register