Concepts of Enterprise Risk Management (‘ERM’) - GRM Institute

Concepts of Enterprise Risk Management (‘ERM’)

The paper will focus on understanding of the objective of an enterprise, the types of risks impacting the enterprise, and establish a link between the two. The paper will include various concepts of risks, such as inherent risk, residual risk, impact/ likelihood and velocity of risks, and effective use of controls as risk mitigants. It would also touch upon concepts of risk tolerance and the development of risk scales for an organization, and monitoring and reporting practices of risks in an organization.

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