How Do Organizations Evaluate Their ERM Programs and Benefits?

Published On:
June 10, 2021
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The processes, practices, measures, and culture that lie behind enterprise risk management (ERM) have taken on increasing importance for many organizations in the face of an unpredictable world where known and unknown risks constantly lurk on the horizon. This article describes the measures and approaches that study participants use to ensure that their ERM programs are on track to deliver these benefits. While the assessment of an organization’s ERM program often includes tracking cost measures and the impact of the process on business results, many leading ERM programs go beyond these quantitative measures and draw from sources like stakeholder feedback, external benchmarking, and capability models as well. After reviewing some of these measures, we also explore the value that ERM programs get from external networking and collaboration.