In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program.

ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Total Cost of Risk, Total Cost of Risk (TCoR), what is total cost of risk, total cost of risk definition, what is erm, erm insurance

In our latest posts on Enterprise Risk management (ERM), we addressed the three phases of Risk Assessment: Risk Identification and Risk Analysis and Risk Evaluation. In this post, we turn our attention to Risk Treatment.

Topics: Enterprise Risk Management (ERM), ERM, Risk Register, Strategic Risk Management

In our two most recent posts in this series, we addressed the first two phases of Risk Assessment: Risk Identification and Risk Analysis. This post looks at the final phase, Risk Evaluation.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, ERM Framework

Risk Analysis is the second of three phases that make up a Risk Assessment.

What are the other two phases?

Topics: Enterprise Risk Management (ERM), ERM, Risk Register

Risk Identification is the first of three phases that make up a Risk Assessment.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Risk Identification, Risk management, Risk Management Assessment, Risk Management Blog

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.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Risk Appetite, Risk Capacity, Risk management, Risk Management Blog, Risk Tolerance

 

In our previous blog posts, we introduced Enterprise Risk Management (ERM) as a strategic discipline that affords a “portfolio view” of risk; outlined how to establish roles and context for ERM implementation; and how to establish a risk-aware culture and develop an ERM framework

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Risk management, Risk Management Blog

 

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.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, ERM Framework, Risk Appetite, Risk Management Blog, Risk Register, Risk Tolerance

In our previous post, Taking a Closer Look at Enterprise Risk Management, we introduced Enterprise Risk Management (ERM) as a strategic discipline that affords a “portfolio” view of all threats and opportunities throughout an organization.  We contrasted ERM with the traditional “silo” approach to risk management, where various parts of an entity manage their risks with no overarching risk management strategy.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Portfolio View of Risk, Risk Management Committee, Risk Management Blog, Subject Matter Expert Group

Every organization is faced with risks and needs to practice some form of risk management in order to maintain the health of the entity. Many take a traditional approach, where risk is managed in silos, with each leader of a business unit (sales, operations, finance, HR, etc.) responsible for managing the risks that fall within his or her area of responsibility.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, ERM Framework, Risk Management Blog