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Identifying and Measuring Enterprise Risks: Taking the First Steps Toward ERM

How successful enterprise risk management programs overcome the initial challenge of identifying and measuring risks across the organization.

  1. Identify & Analyze

    Difficulty identifying risks or flawed assessments can hinder ERM programs

  2. Evaluate & Implement

    Successful ERM programs use the right tools, techniques to identify and measure risks

  3. Monitor & Adjust

    Regular review keeps risk assessment efforts, ERM programs on track

Enterprise risk management experts advise that to understand risks across an organization and how they might affect one another or pose systemic threats, it's necessary to involve stakeholders from across the organization. ›› More

Learn about the common elements of successful enterprise risk management programs and the pitfalls to avoid. ›› More

A new study finds steady progress in the number of companies that say they have formal enterprise risk management processes in place, though obstacles remain to successful ERM adoption, including a lack of formal guidelines or measures for business units to assess probability and impact of risks. ›› More

Editor's Picks: Online Solutions & Resources

"Making mistakes and poor decisions because of old risk information"

This blog post from Norman Marks on Governance, Risk Management, and Audit explains that "one of the most critical aspects of risk management is providing timely information so that intelligent decisions can be made."

"High Quality Risk Identification and Risk Assessment"

This blog post from riskcommentary.com addresses the fact that many companies grapple with the ways in which they can best perform internal risk assessment studies.

Technology to facilitate and execute enterprise risk management initiatives is widely available, but the specific tools to accomplish ERM can vary by industry and even the particular risk manager involved. ›› More

Risk identification is an integral element of enterprise risk management and organizations that have had ERM success have found integrating risk identification efforts across various business units an essential part of the ERM process. ›› More

According to an expert, when trying to implement an ERM program, organizations often try to take a traditional approach, which may not be the best and most effective path. ›› More

Tools that automate parts of an organization's enterprise risk management program can improve the program's efficiency and productivity, and new technology tools can help automate risk tracking and monitoring within the ERM processes. ›› More

An enterprise risk management approach can help organizations make better decisions concerning the use of cloud computing, as well as help them address exposures associated with moving to the cloud. ›› More

A paper released this year, “Enterprise Risk Management for Cloud Computing,” produced by Crowe Horwath L.L.P. for the Committee of Sponsoring Organizations of the Treadway Commission, stressed the importance of a well-developed plan setting out the organization's cloud computing objectives and the specific role cloud computing will play. ›› More

Editor's Picks: Online Solutions & Resources

Georgetown University risk management overview

An overview of Georgetown University's enterprise risk management program outlines its approach to risk assessment.

Compiling and presenting interview data from risk interviews

This article from the Enterprise Risk Management Initiative examines how the Hospital Corporation of America sifts through large groups of data to identify "the top ten risks by the type of risk and by level of management who identifies a risk to …

As part of its enterprise risk management program, payroll and human resource services company Paychex Inc. developed a peer review program affecting all aspects of the organization. ›› More

Editor's Picks: Online Solutions & Resources

Measuring an enterprise risk management program's effectiveness

In an article titled "Manage Tomorrow's Surprises Today," LogicManager Inc. CEO Steven Minsky details "insight on business measures or KPIs for ERM programs to track overall progress and effectiveness."