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Strategic Objective
Risk Management
Strategic Objective
Progress Update
Risk management focuses on creating an environment where grant and loan funds are used for the right purpose and achieve program success. The Department has worked to increase its ability to provide the right technical assistance and oversight to help grantees achieve program goals. Some of that work is accomplished through improving the quality and thoroughness of risk assessments conducted by the Department assuring that grantees are ready to manage the funds awarded. During FY 2015 the Department conducted preaward risk reviews for 100 percent of competitive grant programs. Other work has included improving the program staffs’ skills in the area of fiscal monitoring through training and technical assistance. In FY 2015, the Department far exceeded its goal of timely audit resolution—the target was set at no more than 43 percent resolved overdue, and the actual percentage achieved was 20 percent. This was achieved by focusing on timeliness and fostering close working relationships with programs and support offices. In addition, a comprehensive training program to support the implementation of the new Uniform Guidance was developed and implemented for both grantees and Department staff, which included a strand on audit-related requirements.
Risk management is also an essential aspect of contract monitoring, which is achieved by actively assessing program and performance risks inherent in contracts through oversight and support and issuance of policy and guidance to program and contract officials. The Department has sustained high performance in compliance with contractor performance reporting requirements, leading the government with a 98 percent compliance rate for FY 2015. Only four agencies reached a compliance rate of 90 percent in FY 2015, and the average compliance rate of all 64 agencies reported was only 30 percent.[1]
[1] Past Performance Information Retrieval System (PPIRS) (www.ppirs.gov) “PPIRS Compliance Report.”
