All Resources

Jul 1, 2013

Board Oversight Much a Part of ERM Program Success (or Failure)

Michelle Harner emphasizes the board's vital role in ERM, influencing risk culture, enhancing oversight, and protecting organizations from litigation while ensuring sound risk management practices.

Jul 1, 2013

Analysts Evaluate Behavior of Corporate Leaders in Ratings Process

Standard & Poor’s evaluates management through the lens of investor activism, revealing how pressure on corporate leaders affects decision-making and overall risk profiles. Discover the governance risks posed by investor activism.

Jun 19, 2013

Risk Culture’s Critical Role in ERM

Enterprise risk management is a matter of business process, but it is important to remember the part that people play in implementing ERM. An organization’s “risk culture,” the way an organization’s personnel collectively view, communicate about, and respond to risk, can make or break an otherwise well-designed ERM process. In this May 2013 article from McKinsey & Company, authors Alexis Krivkovich and Cindy Levy discuss risk culture and its critical role in effective ERM. The authors describe the key characteristics of a healthy risk culture, and they also highlight two challenges that organizations must be mindful of in developing risk culture

Jun 19, 2013

ERP Implementation Risk: Managing Sources of Project Delays and Other Risk

Over the past two decades, enterprise resource planning (ERP) systems have allowed managers to utilize software to integrate information about projects across the enterprise. These systems are designed to integrate internal and external information, enhance the flow of communication and decision-making across an enterprise, and focus on business processes and functions. However, integrating information about operations all across an enterprise to make information more accessible and flow via an ERP system presents a number of significant risks. If issues arise at inopportune moments, they are compounded due to the interrelated nature of an ERP system. Protiviti developed a whitepaper that identifies and reiterates the importance of mitigating these risks to reduce post-implementation project costs.

Jun 11, 2013

Focusing on Property Risk Management

Risk events such as fires, adverse weather conditions, and terrorist attacks can have devastating effects on an organization's facilities and physical infrastructure. If ineffectively managed, core operations can be paralyzed, assets can be destroyed, and key IP may be compromised. In May 2013, Advisen Ltd. conducted a large survey of risk managers and property brokers in order to gain perspective on the status of property risk management efforts among businesses operating in the United States and abroad. The survey asked questions around two main themes: 1) what are companies doing, if anything, to specifically manage threats to the physical property and resources of the business, and 2) what are the key characteristics and practices of successful property risk managers? This white paper provides an overview of the survey and its results, which may provide useful benchmarking data for risk leaders.

Jun 2, 2013

Are We Becoming More Risk-Averse?

Explore the Wall Street Journal’s analysis of how increasing risk-aversion in the U.S. economy is affecting entrepreneurship and long-term economic growth, and what may be driving this trend.

May 23, 2013

Spring 2013 ERM Roundtable Summit: Key “Take-Aways”

The Spring 2013 ERM Roundtable Summit showcased best practices in risk management from leading companies like Johnson Controls and Humana. Learn practical strategies to strengthen your ERM processes and drive organizational resilience.

May 13, 2013

S&P Releases Scores for Management and Governance Evaluations

S&P evaluates the management and governance of over 2,000 non-financial companies, focusing on strategic competence and risk management. Learn how firms scored and what these ratings mean for credit risk assessments.

Apr 1, 2013

Five Basics to Managing Innovation Risk

As organizations seek growth through value creation, they often invest in research and development to generate innovations that can propel significant changes and new demand in the marketplace. In the rush to capitalize on the benefits of emerging innovations, organizations often rush to the market based without thinking through the limitations in the models upon which they have based their decision to act. Said differently, innovation carries risks that need to adequately evaluated. A recent Harvard Business Review article by Nobel prize winner, Robert Merton proposes that businesses should adopt five rules of thumb before haphazardly introducing innovations into the market.

Apr 1, 2013

Crowdsourcing, A Tool to Tackle Emerging Strategic Risks

Organizations are turning to “crowdsourcing” as part of their innovation strategy where they leverage the knowledge of “the crowd” to identify emerging trends and opportunities. A recent article in _Harvard Business Review_ highlights crowdsourcing as a problem solving technique. We use that as a springboard to explore how crowdsourcing might be used to leverage the collective talent of the crowd to help organizations deter or manage emerging risks that may affect their strategic success. Crowdsourcing may be a tool that risk leaders can include in their risk identification toolkits.