Weekly Roundup: Risk and Innovation
Posted on: October 17, 2014

CFOs Still Have Concerns About Move to Shared Services 

http://fcw.com/articles/2014/10/15/concerns-about-shared-services.aspx; Oct 15, 2014

Mr. Mazmanian explores the issues concerning CFOs as they analyze business cases for shared services.  Among the challenges faced with such a move, CFOs are weighing their options when it comes to funding, quality of services, and control.  Additionally, this article addresses a key – but oftentimes overlooked – ingredient to a successful shared services business case: risk.  What level of risk is an organization willing to accept for a shared services implementation, and ultimately how will this impact their public sector missions? Mr. Mazmanian poses a potential solution – that each organization identifies and utilizes a Chief Risk Officer who can help steer the agency through a major shared services transformation.

Image Courtesy of Lightspring/Shutterstock.com

Government Failures Illustrate the Need for Risk Management

http://www.govexec.com/management/2014/10/government-failures-illustrate-need-risk-management/96554/; Oct 15, 2014

Mr. Clark presents similar issues raised by federal government CFOs regarding enterprise-wide risk mitigation strategies aimed at balancing change with quality of services.  As agencies experience continued budget cuts and shifts to shared service providers, data management systems and processes become even more critical to leadership decision making.  In summary, accurate data enables leadership’s understanding of how an agency’s performance is linked to its costs and overall spending trends.  The article encourages CFOs to continue to drive toward shared services while not losing sight over the specific risks associated with poor data management.

Image Courtesty of War On The Rocks

How to Discover Defense Innovation

http://warontherocks.com/2014/10/how-to-discover-defense-innovation/#_; Oct 16, 2014

Attendees from the Defense Entrepreneurs Forum (DEF) provide background information on the recent activities of an innovation-focused subcommunity within the Defense industry.  DEF was established in 2013 as an outlet for creativity and unconventional relationships among like-minded young leaders in the military.  The authors highlight the benefits of brainstorming and networking during a Chicago DEF conference last year that aimed to bridge thought leadership and creative energy across a broad group of members.  With such a strong entrepreneurial spirit within the younger DoD ranks, it may be worthwhile for other federal agencies to create a similar community for their millennial workforce.

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