Anticipated percentage change in total annual cost for the process group "manage enterprise risk" next year

This measure calculates the anticipated percentage change in total annual costs for the process group "manage enterprise risk" next year. The process group "manage enterprise risk" involves creating requisite frameworks and coordinating all risk management activities for the entire organization and each function. Manage the enterprise risk by outlining the risk policies and procedures. Monitor and communicate all risk management activities. Encourage correspondence among the business units. Manage the risk of all business units and functions. Annual costs include any costs associated with all types of risks including strategic, reputational, compliance, operational, IT, and financial This Cost Effectiveness measure is intended to help companies understand this cost expenditure related to the process group "Manage enterprise risk".

Benchmark Data

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Measure Category:
Cost Effectiveness
Measure ID:
110866
Total Sample Size:
2,455 All Companies
Performers:
25th Median 75th
- - -
Key Performance Indicator:
No
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Units for this measure are percent.

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Anticipated change in total annual cost for the process group "manage enterprise risk" next year

Key Terms

There are no key terms associated with this measure.
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Measure Scope

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Cross Industry (7.4)

  • 11.1.1 - Establish the enterprise risk framework and policies (16439)
    • 11.1.1.1 - Determine risk tolerance for organization (16440)
    • 11.1.1.2 - Develop and maintain enterprise risk policies and procedures (16441)
    • 11.1.1.3 - Identify and implement enterprise risk management tools (16442)
    • 11.1.1.4 - Coordinate the sharing of risk knowledge across the organization (16443)
    • 11.1.1.5 - Prepare and report enterprise risk to executive management and board (16444)
  • 11.1.2 - Oversee and coordinate enterprise risk management activities (16445)
    • 11.1.2.1 - Identify enterprise level risks (16446)
    • 11.1.2.2 - Assess risks to determine which to mitigate (16447)
    • 11.1.2.3 - Develop risk mitigation and management strategy and integrate with existing performance management processes (16448)
    • 11.1.2.4 - Verify business unit and functional risk mitigation plans are implemented (16449)
    • 11.1.2.5 - Ensure risks and risk mitigation actions are monitored (16450)
    • 11.1.2.6 - Report on enterprise risk activities (16451)
    • 11.1.2.7 - Coordinate business unit and functional risk management activities (16452)
    • 11.1.2.8 - Ensure that each business unit/function follows the enterprise risk management process (16453)
    • 11.1.2.9 - Ensure that each business unit/function follows the enterprise risk reporting process (16454)
  • 11.1.3 - Manage business unit and function risk (17462)
    • 11.1.3.1 - Identify risks (16456)
    • 11.1.3.2 - Assess risks using enterprise risk framework policies and procedures (16457)
    • 11.1.3.3 - Develop mitigation plans for risks (16458)
      • 11.1.3.3.1 - Assess adequacy of insurance coverage (18129)
    • 11.1.3.4 - Implement mitigation plans for risks (16459)
    • 11.1.3.5 - Monitor risks (16460)
    • 11.1.3.6 - Analyze risk activities and update plans (16461)
    • 11.1.3.7 - Report on risk activities (16462)