Introduction to Risk Assessment & Enterprise Risk Management

Understanding Risk and ERM

Risk is the possibility that an event or condition will prevent an organization from achieving its objectives. Enterprise Risk Management (ERM) is a structured approach that identifies, assesses, manages, and monitors risks across the entire organization. Instead of addressing risks individually, ERM views risk holistically to support strategic decision-making and long-term success.

• Risk involves uncertainty and potential impact on objectives.
• ERM integrates risk management across all business functions.
• ERM supports informed decision-making and value creation.
• Risk management is an ongoing process rather than a one-time activity.