NC State University’s ERM Initiative is pleased to release a new thought paper, Strategies for Designing a Lasting ERM Process, that highlights six case study illustrations based on real life examples of how organizations have successfully maintained an enterprise-wide risk management process over an extended period of time.
Implementing Enterprise Risk Management within an organization can be challenging; it can be even more difficult to create the traction necessary to ensure that ERM will be an effective process over the long run. This case study, which was developed by four NC State graduate students completing coursework in ERM, delves into the key factors that have enabled six organizations to sustain an ERM process over a period of time. The ERM processes evaluated have been employed from five to fifteen years and are a critical part of the way each entity operates. The report includes a separate appendix for each organization summarizing the key steps in its ERM process, as well as the success factors that enabled the organization to sustain its process.
It is our hope that boards of directors and senior executives can use this document in two ways: first, to gain an understanding of key processes and factors that contributed to the on-going success of the ERM process at these organizations and, second, to hear advice from ERM leaders that may be useful in establishing or improving their organization’s ERM process. We hope you find this report beneficial to increasing the value provided by your organization’s ERM efforts.