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Poole College of Management
Enterprise Risk Management Initiative

ERM and Strategy

Feb 1, 2009

Internal Auditors Partnership with Management

Internal auditors in the past have been used to examine how well management is performing and how well the company is operating. Now there is a need for internal auditors to work in conjunction with management to oversee risks. CHAN Healthcare Auditors realized this change in internal audit and has developed an audit process and tool that allows for a more effective approach to risk management. Even though the approach is mainly geared towards the healthcare industry, it can be used in numerous industries to determine companywide and departmental vulnerabilities.

Oct 22, 2008

Role of Risk Managers and Continuity Planning

Risk management executives have come to the realization that a cohesive corporate risk management strategy is needed in their companies. They are becoming more involved with business continuity planning and helping with preparedness, mitigation, and recovery for operations.

Sep 1, 2008

Managing Risks for Comparative Advantage: Five Steps to Better Risk Management

This articles highlights a five-step process to help companies make changes to better their approach to risk management in response to the developments occurring in the corporate approach to risk management: 1. Identify and understand your major risks; 2. Decide which risks are natural; 3. Determine your capacity and appetite for risk; 4. Embed risk in all decisions and processes; and 5. Align governance and organization around risk.

Sep 25, 2006

ERM-Benefits for Strategic Planning

The Quarterly Journal of the EDS Agility Alliance recently published an article titled, Coming of Age: As Enterprise Risk Management Matures, So Does Its Value in Strategic Planning, to emphasize the rewards of ERM. Even though some senior managers still lack the broad perspective needed to deal with risk management issues, new tools have emerged and ERM has rapidly gained momentum. The Risk-Capital-Value Framework (RCV) is an example of a concept developed to help businesses manage risks.

Mar 24, 2006

Home Depot’s Approach to ERM

David Whatley, vice president for risk management at Atlanta-based Home Depot Inc., spoke on March 24th to 130 business professionals at the second of three Spring 2006 ERM Roundtables. Whatley described Home Depot’s approach to managing risks at the world’s largest home improvement retailer.

Jul 1, 2005

ERM – UnitedHealth Group

UnitedHealth Group has implemented ERM within the organization to help identify risks and alleviate negative exposures while profiting from positive opportunities. ERM implementation at UnitedHealth Group evolved out of their Business Risk Management processes used in their six diverse operating businesses.