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Try This Today: A Holistic View

Implement a robust ERM framework to address risk from any angle

Publication:
Quality Progress
Date:
June 2023
Issue:
Volume 56 Issue 6
Pages:
pp. 56
Author(s):
Rajasekaran, Varun
Organization(s):
Wipro Technologies, Maharashtra, India

Abstract

A wide array of economic, geopolitical and technological risks over the past few decades have led to a renewed and rigorous focus on reengineering the risk management approach. Events such as the Russia-Ukraine war and COVID-19, for example, have led to the creation of new risk management standards that aid organizations in developing an enterprise risk management (ERM) framework. ISO 31000—Risk management—Guidelines, for example, was established in 2009. Also, interest has deepened in ERM as a tool to enable organizations to consider the potential impact of all risk types.

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