Enterprise Risk Management

Embedding ERM into Strategic Planning at the City of


Enterprise Risk Management

Professor Miguel Buleje


Edmonton – Past and present ERM

Links to strategic plan and to other strategic tools

Selecting and testing tools and framework

Recommended strategic ERM approach

Lessons learned

Edmonton – Past and Present ERM

Edmonton – Capital of Alberta, Canada

Over 800,00 population. Projecting 900,000 by this year.

ERM piloted in 2005

CORPORATE Business Risk Planning (CBRP) model

Not fully implemented

Based on COSO

Adopted strategic plan

The Way Ahead

Strategic ERM

Links to Strategic Plan

6 strategic objectives

3 key areas



Performance measurement.


Selecting and Testing Tools and Framework

The ways, takes into consideration 6 dimensions as we discussion prior.

Implementation of the WAYS part of the overall strategic plan


Selecting and Testing Tools and Framework

Pm 2 Score Risk score Card process diagram

5 steps determine Risk


Strategic Goals and Objectives

Risks and Strategic Objectives

ISO 31000 Risk Management

ISO 31000 - Risk Management process chart

Similar approach


PM2 versus ISO 31000

Proposed ERM Framework

Lessons Learned

Key success factors

Senior management buy-in

Culture of innovation

Consistency of model across goals

Resource requirements for department SMEs

Department accountability for key risks

Process of selecting and implementing framework

Takes longer than expected

No system is perfect

Do not roll out all at once

Clearly define all milestones and deliverables