What is Policy Management?

Policy management is crucial for organizations and governments to effectively develop, implement, monitor, and evaluate rules that guide decisions and actions. This process involves the creation, maintenance, and enforcement of policies which plays a vital role in IT governance, risk management, compliance, and overall business governance. By ensuring consistent communication of expectations and requirements, effective policy management helps organizations achieve their goals and maintain compliance. 

What is the goal of policy management?  

The goal of policy management is to maintain consistent business practices across all departments. This consistency reduces risks and ensures everyone in the company is aligned. Effective policy management creates a communication system that ties your policies to your organizational goals.  

Poor policy implementation and communication can damage your company’s reputation. In a recent survey, organizations were asked to list their top five compliance challenges, and over 41% of these organizations listed “updating policies and procedures.” A policy manager helps prevent this by actively monitoring potential issues and ensuring proper implementation and adherence to policies.  

What is a Policy Manager?  

A policy manager is a professional responsible for overseeing the policy management process. The median salary for this role is $153,000.  

This job involves creating new rules, revising old ones, and making sure all company rules follow the law. Policy managers closely collaborate with various departments to identify policy needs, gather input, and ensure effective communication and enforcement of policies. They play an important role in risk management, plus help organizations avoid legal issues or inefficiencies.  

Key Components of Policy Management  

Policy management plays a pivotal role in guiding organizations and governmental bodies through the complexities of governance and operational standards. According to the U.S. Bureau of Labor Statistics, professionals with degrees in public policy and social services are poised for significant growth, with projections indicating nearly 9% job expansion from 2022 to 2032. These professionals follow several key components essential for developing, implementing, and maintaining effective policies:  

Development: The first step involves identifying the need for a policy, gathering input from stakeholders, and conducting research and analysis to ensure the policy effectively addresses relevant issues.  

Implementation: After approval, policies are communicated to all relevant parties through distribution of the policy document and training sessions. Clear communication channels are established to facilitate understanding and compliance among employees.  

Monitoring and Enforcement: Regular monitoring is important to ensure policy compliance. This includes conducting audits and establishing feedback channels. 

Review and Revision: Policies are regularly reviewed to maintain relevance and effectiveness. Changes are made to follow laws and organizational needs. Stakeholders give input and performance is considered when making updates.  

An Education in Policy Management  

Pursuing a master’s degree in policy management is a valuable next step for many aspiring professionals. The University of Illinois Chicago (UIC) provides a 100% online Master of Public Administration (MPA) program designed to equip students with the skills and knowledge necessary for effective policy management.  

In the PA 506: Public Policy Development and Process course, MPA students will learn the foundational steps of the policy-making process, from identifying and defining problems to proposing and implementing solutions. They develop crucial skills in gathering, organizing, and communicating information effectively to various stakeholders involved in policymaking.  

UIC’s online MPA program features a comprehensive curriculum that prepares students for leadership roles in public and nonprofit management. The online program consists of 54 credit hours, or 13 courses, and can be completed in as few as 16 months. Graduates emerge as well-rounded professionals equipped to address complex challenges facing governments, nonprofit organizations, and communities. Talk to an enrollment specialist at UIC to learn more.