Page 60 - DTI Prosperity Plan 2022

Enterprise risk management enables DTI to achieve its strategic objectives.
Through ERM, we can:

Better execute our mandate and improve the performance of public service delivery in
the areas of trade and industry policy, promotion of exports and investments, MSME
development, consumer protection, and ease of doing business.

Ensure that the strategic objectives of the department are well-developed since risk
management has been incorporated in the strategic planning process as part of our
operating rhythm, so decision makers are provided with well-defined courses of
action in addressing uncertainties, including taking calculated risks when warranted;

Provide a systematic, deliberate, and harmonized approach in dealing with risks
among DTI units resulting to attainment of results

Effectively address the risks associated with our failure to render public service
delivery vis à vis risks to employee welfare

By adopting ERM, we shall promote knowledge management since effective risk
management rely on available information. To remain responsive, we shall

involve our stakeholders in the risk management process, whenever possible,
cognizant that risk management is dynamic and interative, we will endeavor to
implement strategies to improve risk management maturity across the
Department as part of continual improvement.

To ensure consistent application of Enterprise Risk Management (ERM), the DTI
shall adopt the ORCA (Objectives, Risks, Control, and Alignment) Approach in the
execution of strategy, achievement of its objectives, and operational

activities.

54 PROSPERITY PLAN 2022