Guest: Kristen Cox, Executive Director, Governor’s Office of Management and Budget, State of Utah
Start-ups learn to let limitations guide them to creative solutions and recognize there is never enough to go around – time, money or talent. Instead of trying to remove them, the good ones embrace constraints and use them to your advantage. When you talk about fiscal affairs in the state of Utah, the story is the same one. In a state known for its prudent financial management, Utah OMB Executive Director Kristen Cox and her keep-it-simple approach to government have made a lasting impact. She’s schooled dozens of agency leaders in the Theory of Constraints management method, which is designed to root out bottlenecks in agency operations. On the revenue side, Kristen also learned from the 2008 fiscal crisis, adapting scenarios from the Federal Reserve’s stress testing of banks to the state’s own budget.