Review:
Enterprise Risk Management (erm)
overall review score: 4.5
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score is between 0 and 5
Enterprise Risk Management (ERM) is a holistic approach used by organizations to identify, assess, prioritize, and manage risks in order to achieve their objectives.
Key Features
- Risk identification
- Risk assessment
- Risk prioritization
- Risk management strategies
- Integration with organizational objectives
Pros
- Helps organizations proactively manage risks
- Enhances decision-making processes
- Improves efficiency and effectiveness of operations
Cons
- Implementation can be resource-intensive
- Requires ongoing monitoring and updates to remain effective