Executive Strategies for Risk Management by State Departments of Transportation

The objective of this study is to describe how State Department of Transportation (DOT) leadership currently uses risk management techniques in the conduct of their business and to identify executive strategies that may be useful to DOT leadership for enterprise-wide risk management. Achieving this objective requires DOT leadership to be aware of current risk management strategies implemented by DOTs at the enterprise, program and project levels. Therefore, this research study presents a thorough review of transportation, planning, business management and organizational strategy research to identify current risk management practices, emerging methods, and trends. The study presents a comprehensive survey with responses from 43 of the 52 State DOTs to identify the risk management strategies currently implemented. The findings from the literature and survey were validated through interviews with top DOT management from three agencies that were considered currently most advanced in risk management based on the survey submissions. This study concludes with a summary of current strategies and recommended techniques that are promising for State DOTs. Recommendations relate to leading the development of policies and communication; supporting the integration of the risk management process throughout the DOT; appointment of an executive risk manager; and participation in national enterprise risk management efforts.

Language

  • English

Media Info

  • Media Type: Digital/other
  • Edition: Final Research Report
  • Features: Appendices; Figures; References; Tables;
  • Pagination: 73p

Subject/Index Terms

Filing Info

  • Accession Number: 01673600
  • Record Type: Publication
  • Report/Paper Numbers: NCHRP Project 20-24, Task 74
  • Files: TRIS
  • Created Date: Jun 13 2018 10:44AM