In our previous posts in this series, we introduced Enterprise Risk Management (ERM) as a “portfolio view” of risk and discussed various aspects of implementing ERM: roles, culture, a framework and preparing your organization. Now, we’ll begin looking at the “big picture” viewpoint of risk, starting with identifying and prioritizing risks. In the ERM process, management (1) determines acceptable levels of risk, (2) identifies and measures risks throughout the entire organization and aggregates the results, and (3) determines if the aggregated results exceed the acceptable levels. Risk Appetite and Risk Tolerance are the expressions of the “acceptable levels” of risk.
In our previous blog posts, we introduced Enterprise Risk Management (ERM) as a strategic discipline that affords a "portfolio" view of risk and we outlined how to establish roles and a context for ERM implementation.
Be diligent in making sure your snow removal provider has the proper insurance coverage