Why Implement Enterprise Risk Management

 

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There are risks that exist at each level of any organization. The risks do not stand alone; but as the economic turbulence of 2008 and 2009 has taught, any one risk, when accelerated, can cause a domino effect on even the toughest organizations.

Organizations that incorporate identified risks into strategic planning make better decisions and, in turn, achieve their strategic objectives. How do organizations do this? How do organizations ensure that they understand their own risk universe and then effectively leverage resources to mitigate these risks? How do they ensure that all relevant risks are included in their risk assessment process? How do certain risks offset each other?

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