Protivit’s Jim DeLoach discusses the fundamental differences between business planning and strategy setting before offering the place where risk management begins to intersect with performance management.
Integrating Risk with Strategy-Setting – Analyzing Strategic Risks
September 14, 2012
Strategic risk analysis assists senior management with understanding the critical assumptions underlying the strategy and uses contrarian analysis to challenge those assumptions. Protivit’s Jim DeLoach explains how it works.
Integrating Risk with Strategy-Setting – Defining Risk Appetite
August 7, 2012
When integrating risk with strategy-setting, management should consider two things – risk appetite and an assessment of strategic risks. Today, Protiviti’s Jim DeLoach focuses on defining risk appetite.
COSO, ISO 31000 or Another ERM Framework?
June 25, 2012
When defining an ERM process tailored to the organization’s needs, it helps to have a suitable framework as a point of reference. Otherwise, management begins with a blank sheet of paper and we all know that makes it harder. There are different frameworks from which to choose: COSO Enterprise Risk Management – Integrated Framework, ISO [...]
10 Reasons ERM Fails
May 15, 2012
At times, it is appropriate to step back and reflect on why ERM fails. Below Protiviti’s Jim DeLoach explores 10 common risk management mistakes and how they can be avoided.
Determining the Infrastructure You Need For ERM – Setting the Foundation
April 18, 2012
Along with process, integration and culture, infrastructure is one of four foundational elements that frame what executive management and directors need to consider when implementing ERM. “Infrastructure” is a scary term for many executives. It conjures images of cumbersome overlays on established management processes. Given the nature of the organization’s risk management process, the core [...]
Culture Makes A Difference With ERM
March 7, 2012
Four foundational elements frame what executive management and directors need to consider when implementing enterprise risk management (ERM). They are process, integration, culture and infrastructure. After discussing process and integration in the past months, we’re moving forward to culture today. Even the best-designed risk management process can be compromised if dysfunctional organizational behavior exists and [...]
Integrate the ERM Process with What Matters
February 8, 2012
Four foundational elements frame what executive management and directors need to consider when implementing ERM – process, integration, culture and infrastructure. We discuss integration below. The relevance of the risk management process increases if it is integrated with core management processes that truly matter. The idea is to integrate risk management with the rhythm of [...]
Key Elements of the Risk Management Process
January 10, 2012
Four foundational elements frame what executive management and directors need to consider when evaluating the best way to implement enterprise risk management (ERM). These four elements – process, integration, culture and infrastructure – are intended to be flexible in application because strategies, organizational structures, operating philosophies and risk profiles vary in complexity across industries and [...]
4 Themes for Implementing ERM
December 13, 2011
When discussing ERM and how to improve the value it adds to the enterprise, executive management and directors often ask, “Where do we start?” At the heart of this question is the desire for a simple and pragmatic point of view that makes sense in practice. For many companies, risk management has focused on protecting [...]
