Jane Edwards
A survey by Guidehouse and the Association for Federal Enterprise Risk Management has found that 80 percent of federal government professionals said technology will pose major risks to their agencies within the next three years.
The report titled Government Enterprise Risk Management Survey Results is based on a 2024 survey of federal government professionals at 48 federal organizations, including all 15 cabinet agencies, to examine the current state of enterprise risk management, or ERM, in their agencies.
Key Survey Findings
Guidehouse said Thursday the report revealed that human capital and cybersecurity failures top the list of emerging risks that agency professionals think should be included in their organizations’ risk profiles.
Nearly half of respondents indicated that their agencies have defined risk appetite statements.
According to the report, more than 83 percent of federal professionals said their organizations have updated their risk appetite statements in the last three years.
Guidehouse and AFERM found that communicating the risk appetite continues to be cited as a key aspect of ERM programs.
The report also showed that 47 percent of respondents said their ERM programs intend to increase focus on risk appetite over the next year.
“ERM in federal agencies continues to evolve,” said Kate Sylvis, director and ERM leader at Guidehouse. “In an environment of uncertainty, the ERM capabilities in place will allow organizations to identify risks to changing strategies and objectives. The continued maturation of ERM practices in government is a positive trend that will strengthen agencies’ ability to manage and mitigate risk effectively.”
