Instructions In recent years there has been incredible growth in the number of software applications that have been designed to help support project management and project management teams. These soft

ITS 835 Chapter 12 Measuring Performance at Intuit Enterprise Risk Management Professor Miguel Buleje Introduction • Intuit’s ERM Journey • ERM Maturity Model • Benefits of Measuring Performance in ERM Models • ERM Performance Measurement and Reporting • Conclusion Intuit’s ERM Journey • INTRO to Intuit: Biz and Financial Software Corporation. Offerings include QuickBooks , Quicken, Turbo Tax • Began with ad hoc risk management • Very common entry point • Escalated to ERM when seminal event occurred • Desire was to stop firefighting and start prevention . • Proactive approach, as resources were pulled from Operations • Intuit ERM Core Principles 1. Enterprise -wide risk framework 2. Risk assessment is ongoing 3. Focus on most significant risks 4. Ownership and accountability 5. Measure and monitor performance ERM Maturity Model Benefits of Measuring Performance in ERM Models • Key Performance Indicators (KPI) • Based on business objectives • Quantitative and qualitative KPI • Leading (looking into future/ predictive approach) and • L agging (trending / historical performance) indicators • Input, process, and output indicators ( optimized for end to end processes). • KPIs must be • Tangible • Flexible • Standardized • Outcome or objective focused ERM Performance Measurement and Reporting • First evolution - ERM process adoption • Second evolution – Risk Mitigation Process Management • Third Evolution – Multidimensional Risk Management Performance Measurement • Outcome: executive dashboard for reporting. ERM Process Adoption Risk Mitigation Process Management Multidimensional Risk Management Performance Measurement Con c lusion • At Intuit, risk management is everyone’s responsibility • ERM must be a core business competency • Coordination is a key to success • ERM Recognizes • Upside opportunity • Downside risk • ERM process is regularly audited • ERM is an integral part of Intuit’s operating model