In our last episode, we focused on maintaining a light footprint, as ERM should not be an extraordinary administrative burden. Now let’s continue the story of successful implementation by employing the success factors shown in studies.
1. clear goals and objectives - how to formulate them?
2. senior executive support - how to secure meaningful exec support?
3. staff buy-in - how to get take-up on the part of employees?
4. program adequacy - how does bad design scuttle the program?
5. adequate resources - support people’s efforts to take up the initiative
6. program champion - a necessary role for organizational change
7. incremental implementation - many new management practices fail in a monolithic imposition
“Master the principles of program success that have already been studied, and really apply to all administrative programs, all management initiatives -- not just ERM.”
(E. Robertson 2016) Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation
Program implementation -- failure and success factors: please see the resources I listed in Episode 3.
Final Episode: The C-Suite Considers ERMWhat are likely the key questions of senior executive in considering the adoptio
Opportunity and InnovationWhat is the “upside” of risk? Does ERM manage opportunity meaningfully? The whol
Due Diligence, Risk ID for Major ProjectsDue diligence is not the same as risk assessment, but they are complementary. Le
Is Financial Risk Management Equivalent to ERM?Enterprise Risk Management, for some, consists solely of Financial Risk Manageme