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August 25 2015 Rich Tetreault, Chief Engineer 2 q Asset - - PowerPoint PPT Presentation
August 25 2015 Rich Tetreault, Chief Engineer 2 q Asset - - PowerPoint PPT Presentation
Risk-Based Asset Management Programs can catalyze ERM Rich Tetreault Vermont DOT Experience August 25 2015 Rich Tetreault, Chief Engineer 2 q Asset Sustainability q Fiscal Accountability q Organizational Alignment q Credible
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q Asset
Sustainability
q Fiscal Accountability q Organizational Alignment q Credible Programming
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http://vtrans.vermont.gov/sites/aot/files/documents/other/ ExecPolicyStatementsigned042114.pdf
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¨ VTrans is committed to developing an asset
management culture, not just developing a plan
¨ The risk-based asset management exercise
generated agency-wide interest in risk management
¨ Agency personnel who attended risk training
are already applying it to projects and initiatives
¨ We have hired a risk management engineer
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¨ Agency objective is to have each business unit
identify its strategic goals
¨ The risk manager will help each unit identify
and manage risks to those goals
¨ Engaging in risk management led to increased
customer focus
¨ It resulted in asking, ‘What are our risks from
the customers’ perspective’
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Agency ¡ ¡ ¡Goals ¡ Program ¡ ¡ Objec3ves ¡ (Strategic ¡Management) Performance ¡Measures ¡ (Performance ¡Management) Data ¡Management ¡ Data: ¡Quality, ¡Standards ¡& ¡Governance
Strategic Mgmt Risk Mgmt Performance Mgmt Asset Mgmt
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