In the last ten years, enterprise risk management (ERM) has received more attention from corporate America and some public entities because of the value it adds and its systematic approach towards risk. Though still in the initial stages with many public entities across the country, more and more organizations are looking at ERM as a way to better evaluate all of their risks. ERM provides an opportunity for organizations to see their risks from a more holistic point of view.
This book will take a six step approach in introducing, developing, and ultimately implementing an ERM program within your public entity. With each step, real examples will be provided to highlight the successful implementation of these ideas from public entities in the United States and Canada. The chapters break down ERM in the following way:
1) Chapters 1 – 3 cover risk identification, the process of taking inventory of all risks in the organization and tying them to the organization’s strategic plan.
2) Chapters 4 through 7 deal with risk assessment, a process where we determine the cause, risk event, impact, and velocity of all risk exposures.
3) Chapter 8 addresses risk analysis, which examines the interrelationship of risks both within and outside the organization.
4) Chapters 9 and 10 discuss implementation of ERM, including structure, practices, and strategies.
5) Chapters 11 and 12 examine monitoring, which is the tracking of risk information from the ERM program.
6) Chapters 13 – 17 cover evaluation which involves ascertaining the strengths and weaknesses of the ERM program with regard to the organization’s strategic goals.
Table of Contents