12 Specific Actionable Steps to Add Value to Your Enterprise Risk Management (ERM) or Governance Program
Dallas, Texas and Atlanta, Georgia – Strategic enterprise risk management (ERM) expert and speaker Gary W. Patterson, FiscalDoctor®, proposes an executable plan to increase the value of your organization’s enterprise risk management (ERM), business continuity or even contingency planning process in his article 12 Steps to Make ERM a Team Sport published by Corporate Compliance Insights (CCI) http://corporatecomplianceinsights.com/12-steps-make-erm-team-sport/
This article advocates three key consecutive steps:
- Quantify where you are TODAY on a scale from 1 to 10 with four ascending levels,
- Review three priority suggestions to move to each higher level on the scale, and
- Determine when and if you want to increase value until you reach the summit 10 level.
Who should consider applying this process with applications for governance, risk assessments and enterprise risk management (ERM) type issues, inside a value based operational and strategic assessment framework? Family business, private and public business and equity group investor
- Corporate directors, key committee chairs and board chairs
- Corporate officers and C-suite executives
- Shareholders, stakeholders, regulators and legislators
- SMB, middle market and global 2000
For their risk management process to help meet financial and strategic goals, it is imperative for management to understand the magnitude of risks in pursuit of business objectives, and how the organization’s products and offerings and opportunities can be mapped to these risks. Just as every person needs a medical doctor; every organization needs a FiscalDoctor and periodic fiscal checkups. He also supports special projects for business growth, risk assessments, value based enterprise risk management (ERM), operational risk management (ORM), fiscal checkups, corporate governance, strategic planning updates, special board projects or requests and strategic growth diagnostics.