-
Overview Process for Risk
It is important to manage risk. Risk is the effect (positive or negative) of an event or series of events that take place in one or several locations. It is computed from the probability of the event becoming an issue and the impact it would have (See Risk = Probability X Impact). Various factors should be identified in order to analyze risk.
-
Gaps in Enterprise Risk Management Planning
An Enterprise Risk Management (ERM) program and processes should include all areas of enterprise risks and impacts that the entity may be exposed to. The risks weave back and forth affecting each other creating larger risks when viewed in a vacuum without looking at the 360 degree risk environment that can affect the organization.