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Practice Areas: IT Strategy, New Practitioners, Risk Management
How would you define ERM?
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How would you define ERM (Enterprise Risk Management)? What is the importance of ERM?
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ERM is about managing risks across the whole organization, as opposed to, say, one project at a time.

It is important because many of the pure risks are handled at the ERM level, not project. As a project manager, I usually don't worry about insurance or disaster recovery because it's already dealt with at a broader level.

ERM is important for companies to make strategic decisions. Each company has a different risk appetite and tolerance. ERM tells us how much risk is involved so that a company can decide if the gains outweigh the risks.
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1 reply by Anupam Ganguly
Oct 20, 2016 8:51 AM
Anupam Ganguly
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Thanks Stephane
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Oct 20, 2016 8:19 AM
Replying to Stéphane Parent
...
ERM is about managing risks across the whole organization, as opposed to, say, one project at a time.

It is important because many of the pure risks are handled at the ERM level, not project. As a project manager, I usually don't worry about insurance or disaster recovery because it's already dealt with at a broader level.

ERM is important for companies to make strategic decisions. Each company has a different risk appetite and tolerance. ERM tells us how much risk is involved so that a company can decide if the gains outweigh the risks.
Thanks Stephane
Network:840



A Validation and Governance framework that shall suffice for the whole organisation in terms of providing a framework to evaluate projects, models, push them through stress tests, revalidate and by the end better control risks.
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1 reply by Anupam Ganguly
Oct 21, 2016 7:17 AM
Anupam Ganguly
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Thanks Rajan
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Oct 20, 2016 12:15 PM
Replying to Rajan Hariramabadran Varada
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A Validation and Governance framework that shall suffice for the whole organisation in terms of providing a framework to evaluate projects, models, push them through stress tests, revalidate and by the end better control risks.
Thanks Rajan

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