What is Enterprise-Wide Risk Management?
Looking at Risk Management from a Health & Safety point of view have changed over the past few years to include Environmental aspect and impact (hazard & risk) management as well. Lately it has been broadened to include Information Security risks (ISO27001), Food risks (ISO22001), HIV & AIDS risks (SANS16001) and Business Continuity (ISO25001). Overseeing the risk of an entire organization is the cherry on top of any risk management system. This is where the term “enterprise-wide risk management” comes from. Other similar, well-worn expressions are “integrated risk management” and “holistic risk management solutions”? Enterprise-wide risk management (EWRM) is defined as a structured, consistent and continuous process across the whole organisation for identifying, assessing, deciding on responses to and reporting on opportunities and threats that affect the achievement of its objectives.Institutions are finding that they need to manage risk in a more proactive way to avoid losses and ga
