Enterprise Risk Management
Budget changes tool
Considering risk in budget reductions
This tool will help you consider the risks involved and decide among your options for reducing your budget. It will not make decisions for you, but it will help you compare the benefits and risks of each option so you can make informed decisions.
The nine steps are:
- Step 1: List possible budget reduction actions.
- Step 2: Consider potential benefits.
- Step 3: Consider risks to environment and life safety.
- Step 4: Estimate potential financial severity.
- Step 5: Consider the risk of mission impairment.
- Step 6: Consider impacts to stakeholders.
- Step 7: Consider reputational risk.
- Step 8: Determine whether separation of duties is compromised.
- Step 9: Decide which actions to implement.
If you would like to learn more about this tool or for purchasing information, please contact us at firstname.lastname@example.org.