Enterprise Risk Management
Enterprise Risk Management
Enterprise Risk Management (ERM) is the process by which organizations in various industries identify, assess, and prepare for any dangers, hazards, and other potentials for disaster—both physical and abstract—that may interfere with their operations and objectives.
Pronunciation
Enterprise Risk Management: /ɛntərˌpraɪz rɪsk ˈmænɪdʒmənt/
Etymology
The term "Enterprise Risk Management" is derived from the field of business management. "Enterprise" refers to a business or company, "Risk" refers to the potential for loss or harm, and "Management" refers to the process of dealing with or controlling things or people.
Related Terms
- Risk: The potential for loss, damage, or destruction of an asset as a result of a threat exploiting a vulnerability.
- Risk Assessment: The identification and analysis of relevant risks to the achievement of an organizations' objectives, for the purpose of determining how those risks should be managed.
- Risk Mitigation: The process of developing actions and options to enhance opportunities and reduce threats to the project's objectives.
- Risk Management: The process of identifying, assessing, and controlling threats to an organization's capital and earnings.
- Operational Risk: The risk of a change in value caused by the fact that actual losses, incurred for inadequate or failed internal processes, people and systems, or from external events (including legal risk), differ from the expected losses.
- Strategic Risk: Any risk that affects or is created by an organization's business strategy and strategic objectives.
See Also
- Business Continuity Planning
- Disaster Recovery
- Financial Risk Management
- Operational Risk Management
- Strategic Risk Management
External links
- Medical encyclopedia article on Enterprise Risk Management
- Wikipedia's article - Enterprise Risk Management
This WikiMD dictionary article is a stub. You can help make it a full article.
Languages: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
Urdu,
বাংলা,
తెలుగు,
தமிழ்,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
European
español,
Deutsch,
français,
русский,
português do Brasil,
Italian,
polski