Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation

Book Synopsis: Enterprise Risk Management is a puzzle in the sense that 80+ frameworks and definitions are extant. Surveys show that few have a 'mature' practice, while new administrative programs in all domains have high failure rates. Yet, organizations of all types continue to strive for ERM. They need to manage reputation, brand, strategic and operational risk -- and such a program can indeed be successful. This book answers the need for a generic ERM methodology that is conceptually grounded and proven in its application, in both private and public sectors. The benefits are the direct results of applying a rigorous risk ID and assessment process. This is what the author calls High Quality Risk Assessment, to differentiate it from ad hoc approaches done in the absence of methods.

Practitioners first gain clarity on the organization's direction, their program goals, and the true significance of corporate values. This in turn permits an insightful assessment of risk, helping program managers to meet their deliverables and solve business problems. The roll-out fully leverages the principles of successful program implementation.

In a principles-based approach, this book permits readers to the freedom to adapt and prove the value of risk management techniques in their own unique organizational settings, incrementally and with a minimal footprint. Topics include ERM value proposition, role of the ERM champion, how to conduct High Quality Risk Assessment, 9-point ERM plan, and solving poor acceptance or take-up. Novel approaches are presented to financial and IT risk management, opportunity, and emerging risk. Complete index, online resources, 50 references and 9 tables and diagrams. The author also offers the companion volume: Enterprise Risk Management Tools and Templates to fully equip the reader.