Enterprise Risk Management: Tools And Techniques For Effective Implementation
Enterprise Risk Management (ERM) takes a broad perspective on identifying the risks that could cause an organization to fail to meet its strategies and objectives. Once risks are identified, the next issue is to determine the root causes or what drives the risks. A suggested approach is described and followed by a discussion of several qualitative and quantitative procedures for assessing risks. Some practical ERM implementation considerations are also explored, including infrastructure and maturity models, staging adoption, the role of the management accountant, education and training, technology, aligning corporate culture, building a case for ERM, and the ROI of ERM.