To help an organization make risk-informed strategic decisions, a good enterprise risk management program generates intelligence on risks that could impede achievement of organizational goals. Businesses then prioritize investments in programs that will have the greatest impact on reducing or optimizing risk.
The business anticipates, prepares for and responds effectively to material events and disruptions.
Risk management decisions are made confidently, based on solid data and effective analysis.
Risks are communicated clearly throughout the organization as well as to external stakeholders.
The ERM program continually optimizes and proves value over time by comparing outcomes against predictions.
Enterprise risk management
For your organization to meet its objectives, you need clear visibility and understanding of all risks that may affect your operations or cause financial or reputational damage. To manage risk, your organization has several choices: reducing the likelihood of the risk occurring; decreasing the risk’s potential impact; and, transferring, avoiding or accepting the risk. STREAM provides up-to-date and reliable risk data, allowing management to reliably prioritize and escalate risks according to their significance.