One acronym after another. An ice cream headache, for sure, trying to understand the similarities, differences and connectivity between all these terms. You need to do it, however. Simplify, simplify, simplify. Break it down and truly comprehend everything. Get ready for the proverbial elevator speech, if the need for one materializes. Toward that goal, here[…]
A Risk Management Framework (RMF) melds together the strategic, foundational and tactical elements of risk to describe the role of Enterprise Risk Management (ERM) in helping a company maintain its franchise value and meet both its strategic business objectives and corporate stakeholder obligations. Here are ten (10) key elements every RMF should have. Part A[…]
The beauty of enterprise risk management (ERM) is that every one of the discipline’s constituent parts is interrelated. Connected at the hip. Nothing in ERM appears “out of the blue”, therefore. Last month, for instance, we told you that a robust and meaningful ERM program might consider adopting a concise ERM mission statement, one that[…]
Risk is best defined as the “effect of uncertainty on the achievement of objectives.” The successful management of risk, therefore, is integrally connected to the achievement of the company’s strategic objectives. Enterprise Risk Management (ERM) is an essential discipline that all companies need to install, embed, and inculcate into the organization, in order to: Set[…]
Like cars, whose investment and value we protect and preserve with regular annual maintenance at the least, your GRC and risk management processes and tools require careful regular service to preserve and extend their value and utility. Business environments are fluid. Change is a reliable variable from one year to another. Your business may have[…]
In our last article, we discussed the value and contribution of the risk register, and how it played into the offering of a pre-populated, fully-integrated enterprise risk management (ERM) solution. We noted that three attributes of a GRC platform (Process, Product, and Content) are essential to delivering the critical services, tools, and capabilities that companies[…]
Subconsciously, we all manage risk throughout our daily lives. We pack an umbrella in case it rains, (unless we live in the Pacific Northwest where that’s considered unnecessary). We check our car tire pressure and fluid levels before a long road trip. We bring along water for a summer hike, and so on. You can[…]
There’s a lingering belief that these are IT management concerns. That lingering belief is founded upon a “perceived reality” of a business operating in an environment where IT was little more than a contributing discipline to complete tasks and deliver efficiency. It made some narrow sense in a world free of cyber anything, pre-internet, where[…]