Enterprise Risk Management is a comprehensive, systematic approach for helping all organisations, regardless of size or mission, to identify events, and measure, prioritise and respond to the risks challenging its most critical objectives and related projects, initiatives and day-to-day operating practices. ERM fosters informed decision making that balances growth and return. In essence, it analyzes how much risk a company is taking in light of its growth initiatives. It also evaluates how much risk resides in the expected return. This trade-off represents the value creation element of the process. Implemented correctly, ERM allows a company to identify opportunities for further value creation as it seeks an acceptable risk response strategy.
© 2017 - Tue Apr 25 19:38:21 EDT 2017 PwC. © 2017-2018 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.