Enterprise Risk Management
Are your enterprise risk management (ERM) program and processes failing to deliver real value and decision-making insights? Do you feel like your ERM program is long on internal controls and audit and short on managing strategic risks? If your organization is like most, the answers are probably yes.
Risk management continues to be the weakest link in corporate decision making. Whether it’s project risk management, quality risk management, cyber risk management, or enterprise risk management, from a decision-making perspective, risk management is a two-filter portfolio decision-making process. Knowledge about risk is only informative, meaningful, and useful if it supports decision making.
For a long list of reasons, enterprise risk management (ERM) has become an overly burdensome process and remains a “hard sell” in most corporations today, even though there is strong encouragement for its use by government regulators in the U.S. and E.U.
Enterprise risk management requires both top-down and bottom-up perspectives. The bottom-up perspective must reach broadly within your organization as insights about internal risk and opportunities reside in the front-lines of your operations. The external perspective requires top-down focused processes beyond risk management to inform senior managers and executives of external threats. Risk insights for both of these perspectives can be achieved with a common risk assessment method.
PRO Enterprise Management Methods and Analytics will provide vastly improved decision-making insights to your ERM program with minimal effort and cost.