Risk
The effect of uncertainty on objectives.
What is risk?
This annual initiative, known in shorthand as CAP, requires each division office to check compliance on key requirements for a random sample of projects.
What is Compliance Assessment Program?
A Division project involvement term formerly known as “Full Oversight.” It describes a project that is selected for involvement after passing through screening criteria and a risk assessment process.
What is a PoDI? Or Project of Division Interest
This new manual was released by the S&O team in 2019 and is used to start the ERM annual planning process to determine compliance, efficiency and effectiveness of a program area.
What is the Program Assessment Process User Manual?
This three letter acronym describes any locality (city, town, etc.), or political subdivision that may be empowered to cooperate with the State DOT in highway matters.
What is a LPA (Local Public Agency)?
Our approach to fully integrate strategic and performance planning, risk management, internal control, and review and evaluation functions at the enterprise level.
What is Enterprise Risk Management?
This was the inaugural performance year for division offices to complete the verification of key requirements for randomly sampled projects under the CAP.
What is 2014?
This is where divisions must document the reasons (risk basis), scope of response activities, and results of FHWA’s risk-based involvement for a project.
What is a PoDI plan or a project level S&O plan?
This risk mitigation activity may be accomplished nationally or within a Division office and involves a sample of projects, and an analysis of requirements, processes and procedures. Results are reported and tracked.
What is a program/process review?
The size of the national LPA program, measured in annual Federal reimbursements for authorized projects, is between (in billions) $1-2, $3-4, $6-7 or $14-15.
What is between $6-$7 billion dollars?
The type and amount of risk, on a broad level, an organization is willing to accept in pursuit of objectives.
What is Risk Appetite?
The responses to CAP questions that are considered compliant are “Yes” and “Not Applicable”. These two responses are considered “not in compliance”.
What is “No” and “don’t know”?
This document describes FHWA and DOT roles & responsibilities with respect to Title 23 project approvals and oversight activities.
What is a Stewardship and Oversight Agreement?
This tool can help identify process and communication breakdowns and where to streamline processes.
What is process mapping?... or flow charting.
Two words, describe this legitimate Agency action: The LPA exchange of Federal funds for State funds.
What is “fund swapping?”