Ok the good news is that the ones who are using enterprise risk
management programme are really started getting some transaction.
More and more people are talking about it, the regulators are
encouraging it(read: requiring it) and more and more articles are
being written about it. And thats all too good the actual problem
comes here. The vast majority of population still have no idea of
what enterprise risk management is actually all about and how it
actually looks like.
Cisco has defined Enterprise risk management software as a
process that is effected by an entity board of directors, management
and personal, applied in the strategy setting and across the
enterprise, that is designed to identify all the potential events
that would affect the entity and manage the risk within its risk
appetite, providing reasonable assurance regarding the achievement of
all the entity objectives. Ok now when this was the definition for
erm software, what is erm i still dont know.
Its so easy when we develop a management technique and give it
a name when we come up with a name and then try to engineer the
technique. You would end up with different techniques and opinions on
what looks like and more on how you should build it. Ultimately this
is not that great approach. So if like all others you have read each
and every scrap of english literature and find your self still saying
what exactly erm software is all about take heart and you are in a
very good and a good company.
The big problem is that
with so many definitions and descriptions that you read is that they
are already ignoring the simple fact managing the risk fact that the
enterprise risk management is very very complicated. Risk comes in
thousand forms and risk management will always be comprised of many
elements in short. In short the enterprise does not mean one central
system. It means we understand and manage how these pieces fit
together and it is this that is actually missing.In this piece of
content i have endeavoured to look at erm as a brutally honest and
practical perspective as much as possible. And i hope that it would
give some of the best concrete points to think about the erm
programme. To know more on erm software visit us at
