Enterprise Risk Management Initiative, Poole College of Management, North Carolina State University

Providing Thought Leadership, Education and Training on the Subjects of Enterprise Risk Management

Risk Management Tools and Techniques Articles

  • Risk:  Dealing with Dangers Abroad

    This article addresses challenges associated with managing global risks. Even with improved global communication technologies, better understanding of foreign cultures, and international advisors, breakdowns in strategies and operations now housed…

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  • Assess the Risks – Key Strategies for Overseeing Derivatives

    In recent years the use of derivatives by mutual funds has soared. Yet, there has been little guidance offered to boards on the oversight roles when it comes to derivatives.…

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  • Managing Risks and the Strategic Advantages

    The article focuses on the importance of diagnostic tools used in managing risks and the need for a holistic methodology such as ERM for providing businesses with a strategic advantage. Companies can benefit immensely from software designed to integrate their compliance and governance activities with ERM.

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  • Risk Language

    Internal Auditor recently published an article titled, The Language of Risk, which stresses the need for a clear risk language throughout all organizations. By using a common language, different levels of a business can communicate more effectively. Without a common risk language, lots of time can be wasted in clarifying risk issues that are miscommunicated

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  • NIST Risk Mitigation Toolkit

    The National Institute of Standards and Technology (NIST) has issued a risk mitigation toolkit to help risk management leaders identify the most important hazards threatening buildings and other constructions and…

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  • Tools and Techniques for Enterprise Risk Management Execution

    The Institute of Management Accountants has issued a new document that summarizes tools and techniques used by businesses that have effectively implemented an ERM program. After identifying risks, businesses should…

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  • Survey by KPMG- ERM in the US

    A survey published by KPMG titled, Enterprise Risk Management in the United States, reflects senior executive perspectives about risk management practices and on-going efforts to successfully implement and monitor ERM processes. The report provides feedback about ERM practices from US companies that span diverse industries such as aerospace, transportation, financial services, healthcare, and manufacturing

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  • Enterprise Risk Management:  Frameworks, Elements, and Integration

    The Institute of Management Accountants (IMA) has issued a new document that emphasizes the importance of understanding and managing risks in today’s complex business environment. Topics covered in the document…

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  • RIMS ERM Maturity Model

    The Risk and Insurance Management Society (RIMS) has recently introduced its Risk Maturity Model (RMM) to help organizations better utilize Enterprise Risk Management. The RIMS Risk Maturity Model can be used by chief risk officers and other risk practitioners as a resource to aide in planning, implementing, and benchmarking Enterprise Risk Management practices within their organizations.

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  • Functioning Jointly:  ERM and Balanced Scorecards

    The article titled Working Hand in Hand: Balanced Scorecards and Enterprise Risk Management brings together the benefits and rationale for looking at ERM and balanced scorecards jointly. Not only can…

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  • Risk Management Quantification

    Existing enterprise risk management frameworks focus on qualitative aspects leaving room for development of a more quantitative framework. Actuarial and mathematical models could provide a more quantitative framework to provide additional guidance to those wishing to implement ERM.

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  • Enterprise Risk Management Quantification – An Opportunity

    Enterprise Risk Management has been getting increased attention in recent years, however much of the focus has been on the qualitative aspects of framework with little focus on the quantitative aspects. This article presents the opportunities for individuals with a quantitative background and develops a framework that can be used to develop a risk model for your organization.

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  • ERM Guide:  Frequently Asked Questions

    Protiviti has provided an Enterprise Risk Management Guide that addresses the fundamentals of managing risks as well as frequent questions about implementation and the value that can be achieved with ERM.

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  • Expanding ERM to Embrace Strategic Risk

    Firms are insured against the usual risks but they are not protected against strategic risks. By using enterprise risk management techniques to identify strategic risks, firms can use countermeasures for anticipating and managing these threats systematically and turn some of them into growth opportunities.

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  • Benefits of Managed Risks

    When companies don’t guard themselves against substantial risks, the outcome can easily produce a damaged reputation. However, risk management should not discourage growth through eliminating risks, but the reverse should take place and positive risks should be implemented. Therefore, effectively managing the many risks faced by an organization is critical to its success.

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  • ERM Infrastructure and Risk Intelligent Systems

    Enterprise risk management (ERM) is the key to resolving some of the demands for more corporate transparency from investors. ERM is a process that changes how an organization identifies risks…

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