Enterprise Risk Management 4
Enterprise Risk Management 4 : Comprehensive approach to risk management that engages organizational systems and processes together to improve the quality of decision making for managing risks that may hinder an organization's ability to achieve its objectives. Sample Usage: An organization uses enterprise risk management processes to holistically consider the risks associated with personnel turnover. Annotation: Enterprise risks may arise from internal and external sources. Examples of internal sources include issues such as financial stewardship, personnel reliability, and systems reliability. Where internal risks threaten successful mission execution, enterprise risk management seeks to ensure that internal systems and processes are tailored to minimize the potential for mission failure. Examples of external factors include, but are not limited to, global, political, and societal trends. An organization will modify its enterprise risk management approach to take these risks into account
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