Value of Risk Management Program

The Value of Risk Management Webinar series features five modules designed to illustrate how risk management is a necessary tool to advance the mission and achieve the vision within public entities. This series was created to equip public risk managers with the necessary resources to effectively communicate the value of risk management. 

Check Out PRIMA's Value of Risk Management Series!

Module 1 – Introduction 

Module 2 – Total Cost of Risk  

Module 3 – Risk Maturity Models 

Module 4 – The Risk Appetite and Risk Tolerance Framework  

Module 5 – Strategies for Communication and Change Management 


PRIMA's Value of Risk Management series is presented by risk managment experts:

Grace Crickette-Taylor, ARM, CGEIT, CCEP-I, CCSA, SHRM-SCP, SPHR
Vice Chancellor for Administrative Affairs, University of Wisconsin – Whitewater

Bonnie Kolesar, ARM, CCSA 
Risk Management Consultant, Renne Sloan Holtzman Sakai LLP



This introductory webinar is designed to deliver some perspective to the upcoming series. Findings of a recent PRIMA needs assessment survey will be provided, followed by a discussion of modern day disruptors that are reshaping demand in the public entity risk management practice area. The next four modules have been designed to respond to these perceptions and environmental disruptors, and if utilized, can set changes in motion within your own organization and help to establish your program’s desired brand identity.

Attendee Takeaways:

  • How to use data and visual tools to develop a clearer understanding of risk and its costs
  • How to identify risk appetite and tolerance levels that are agreed upon and create accountability
  • How to show the maturity of a risk management program that can then evolve as part of the strategic planning process
  • How to use effective branding strategies, communication strategies and change management tactics to effect positive change

Click here to access Module 1


The Total Cost of Risk, or TCOR, is just one of the tools that can be utilized to begin the process of communication with executive management. The aim of TCOR is to help enhance the organization’s decision-making process based upon its goals and correlate that process with the risks and costs associated with them. In this webinar, the speakers will present the methodology and framework associated with TCOR, as well as recommended data and sources.

Attendee Takeaways:

  • Recognize how benchmarking can be used as a valuable communication tool
  • Different methods of presenting TCOR based on various programs
  • The importance of correlating data, whether qualitative or quantitative in nature, against activities over time. 

Click here to access Module 2


Risk maturity models are an additional communication tool used to demonstrate the efforts and progress that are linked to the management of risk within the organization. The speakers will introduce broader reporting methodologies to depict the risk program’s maturity status by providing a variety of models that allow for flexible and graphic measurement of success.

Attendee Takeaways

  • The purpose of using a risk maturity model: what it is, why it is important and how it can be used
  • The various visual forms of a maturity model and the manner in which they can be used with other reports
  • The categories of data and progress to track using a risk maturity model

Click here to access Module 3


The risk appetite and risk tolerance framework is a critical part of the risk assessment process. During this webinar, the speakers will teach you how to provide another dimension to your program by engaging upper management and by setting clear expectations in an effort to promote accountability. 

Attendee Takeaways:

  • Define risk appetite and risk tolerance
  • Simplify complex information into actionable information
  • Discuss how to embed processes into existing organizational programs and reporting
  • Provide examples of lessons learned and sample dashboard reports

Click here to access Module 4


By this webinar, you will be familiar with TCOR, maturity models and the risk appetite and tolerance framework. This newly equipped knowledge can be used to establish the value of risk management and provide meaningful communication with stakeholders. Since most of the strategies up to this point will require some degree of organizational adaptation, you will likely require some tactics for successful implementation. The speakers will share some methods that they have used to support and synergize their programs by infusing them with a surge of strength and resiliency.

Attendee Takeaways:

  • How to create a risk management brand identity and “top-of-mind” awareness
  • How to take advantage of various communication vehicles based upon the target audience
  • How to plan for change using your champions as teams

Click here to access Module 5

About the Speakers

Grace Crickette Taylor 

Grace Crickette TaylorAs the vice chancellor for administrative affairs at UW-Whitewater, Grace is focused on finance, project management and team building. She is an accomplished administrator, financial executive, chief risk officer and chief compliance officer with an exceptional record of success. Among the fields in which she has garnered her achievements are institutional strategic business planning, finance and budgeting, administration and operations management, investment and business growth, as well as governance and risk management for the world’s #1 and #2 ranked public universities and health systems. 

Grace is a graduate of University of Redlands with a B.S. degree in business administration. She has earned her CCSA, ARM, SPHR, CCEP-I and CGEIT) professional designations. She is also a graduate of Harvard Business School, having completed the general management program in 2015.

In 2011, Grace was named as one of Business Insurance magazine’s “Women to Watch” and earned an Information Security Executive (ISE) West & North America Award. The following year, she was named “ISE of the Decade” and Treasury & Risk recognized her among the “100 Most Influential People in Finance.”

Bonnie Kolesar

Bonnie KolesarBonnie’s background includes an impressive 25-year career in risk management, having served as risk manager to local, state and higher education entities. As a gubernatorial appointee, she was charged with and successfully developed a full-service program for California’s largest agency, the Department of Corrections and Rehabilitation.

Her focus has recently shifted to independent risk consulting, serving a broad range of clients including law firms, public entities, national educational programs and corporate start-ups. 

Bonnie’s collaborative skills have led to many boards and committee appointments including president of the Public Agency Risk Managers Association, and Advisor to the Division of Industrial Relations’ Commission on Health and Safety and Workers’ Compensation. 

She holds a Bachelor of Arts from St. Mary’s College, a certificate in control self-assessment from the Institute of Internal Auditors and an Associate in Risk Management designation from the Insurance Institute of America.

For additional information, contact PRIMA’s Education and Training team at education@primacentral.org.