Redefining Risk Management in an Age of Uncertainty

Organizations cannot be managing risk in isolation. They need an enterprise view of risk that sees the interconnections and impact of uncertainty on objectives. They need a top-down approach to risk management that looks at objectives and risk and uncertainty to those objectives. They also need a bottoms-up approach that looks at the details of risk down in the weeds of business processes and transactions. Good risk management will also bring together both risk quantification and qualification, and it requires left-brain structured thinking as well as right-brain creative thinking on risk and impact. Organizations need a 360° contextual awareness of risk and its impact on objectives to understand and monitor risk-taking, measure whether the associated risks taken are the right risks, and review whether risks are managed effectively. Successful risk management requires the organization to provide an integrated process, information, and technology architecture to identify, analyze, manage, and monitor risk, as well as capture changes in the organization’s risk profile from internal and external events as they occur that can impact objectives. 

Protecht.ERM is a solution that GRC 20/20 has researched and evaluated, that can manage risk and compliance in complex, distributed, and dynamic organizations. The Protecht.ERM solution delivers an enterprise risk management platform that can be used to manage, deliver, and report on the range of risks and controls in a contextual understanding of the business. 

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Table of Contents

  • The Interconnectedness of Risk
  • Protecht.ERM
    • Redefining Risk Management in an Age of Uncertainty
    • What Protecht.ERM Does 7 Foundational Capabilities in Protecht.ERM
      • Benefits Organizations Can Expect with Protecht.ERM
    • Considerations in Context of Protecht.ERM

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