Colleagues, Risk Management is an increasingly important business driver as
stakeholders have become much more concerned about risk. Risk may be a driver
of strategic decisions, it may be a cause of uncertainty in the organization,
or it may simply be embedded in the activities of the organization. An
enterprise-wide approach to risk management enables an organization to consider
the potential impact of all types of risks on all processes, activities,
stakeholders, products and services. Implementing a comprehensive approach will
result in an organization benefiting from what is often referred to as the
‘upside of risk’. A successful enterprise risk
management (ERM) initiative can affect the likelihood and consequences of risks
materializing, as well as deliver benefits related to better informed strategic
decisions, successful delivery of change and increased operational efficiency.
Other benefits include reduced cost of capital, more accurate financial
reporting, competitive advantage, improved perception of the organization,
better marketplace presence and, in the case of public service organizations,
enhanced political and community support. Much career success, Lawrence Wilson
– Cybersecurity Certification and Protection Center (CCPC)
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