The Continuous Process Of Enterprise Risk Management

The continual process of enterprise risk management (ERM) has become an integral component of successful organizational assessment. The process of accurately identifying various risk factors and interpreting their potential advantages and disadvantages ensures that a business remains capable of anticipating and addressing internal and external contingencies. The following ERM implementation plan for the security of internet-accessible networks is intended to provide a navigable framework for the development of a comprehensive ERM standard, including procedures to guide internal auditing and the construction of a capable and contemporary cyber law policy. Within the organizational structure of any complex enterprise, such as a small software development business, the continual exchange of data necessary to facilitate operational efficiency allows for the presence of clearly identifiable risk factors to include hazard risks, financial risks, operational risks, and strategic risks. The purpose of any ERM plan is to assess the various risks associated with the network of online interactions which occur daily between employees, customers, suppliers, investors, and other key stakeholders in the organizational hierarchy, while providing clear standards of conduct intended to mitigate said risks. The threat of external interference with organizational objectives must be mitigated through the application of an effective security and cyber law policy, while the resolution ofShow MoreRelatedRisk Management : An Organization Essay897 Words   |  4 PagesRisk management is an organized process to identify, analyze and control risks in any organization. Today’s world is all about using information technology in almost all facets of human life such as business, education, health care or banking. No one will argue that today success of any business enterprise mostly depend on its capacity of handling risks in the best possible way. 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