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Early Stages Of UW’s ERM Adoption And Implementation
What were some of the key factors in the early stages of UW’s ERM adoption and implementation that led to its current success within the organization?
What type of culture is at the University of Washington? Why is culture important to consider when implementing ERM?
• Higher education environment
• ERM in higher education
• Adopting ERM in Colleges and Universities
• The University of Washington case study
Higher Education Environment
• Generally considered “different” from enterprises
• Historically separate from targets of legislation
• Often, success may lead to lack of risk management
• Multiple high-visibility scandals have shed light on HE
• Many HEIs have migrated to more corporate ERM
• Different HE cultures demand different ERM solutions
ERM in Higher Education
• Recognition of institutional areas
▪ Each encounters unique risks • Risks can include
▪ Litigation settlements
▪ Reputation damage
Adopting ERM in Colleges and
• Think tank of HE to discuss ERM in HE
• PricewaterhousCoopers • NationalAssoc of College andUniv Bus Officers
• Definition of risk
• Risk drivers in HE • Implementation of risk management to assess, manage,
• Proactively engage the campus community
University of Washington
• Sentinel event
• $35 million fine for Medicare and Medicaid
• Push to implement ERM to improve compliance • UW is built on a decentralized governance model
• Started with
• Strategic Risk Initiative Review Committee (SRIRC)
• Each initiative asked
• Does this proposal add value?
• What obstacles are apparent and how can they
• How can this proposal be improved.
• Committee recommendation • Create a Culture-Specific ERM
• Examined other HEIs
• Outcomes are consistent with guidance offered by
• National Association of College and University
• NACUA eight critical factors • Establish the right vision and realistic plan
• Obtain senior leadership buy0in and direction
• Align with mission and strategic direction
• Attack silos at the outset
• Set objectives and performance indicators
• Stay focused on results
• Communicate vision and key outcomes
• Develop a sustainable process versus a one-time
Cite specific examples from this week’s readings and give credit to the source.
1.All submitted work must be per APA’s Style, Formatting and Structure.
2.You must at least cite 2 sources, including your textbook.
3. Read Chapter 9 in the textbook, and view and download the power point presentation for Chapter 9.
Use below book for chapter 9
Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices: John Wiley & Sons