erm program

Does the Southwest Meltdown Prove ERM Haters Correct?

Most of the time, flight delays and cancellations are just an inconvenience for a small number of people. That cannot be said about the recent “meltdown” of Southwest Airlines’ operations over the Christmas 2022 holiday. While the intense winter weather gripping the U.S. affected all airlines, the impact to Southwest was especially severe with close…

ERM Foundations are vital for organizational success

3 Phases to Creating and Launching an ERM Program Focused on Organizational Success

If you’ve been handed the task of creating an ERM program for your organization, let me first offer my congratulations quickly followed by my empathy for the task ahead of you. I don’t say that to scare you but to provide a small dose of reality. Building, launching, and refining an ERM program that is…

ERM Strategic Planning: Ensuring Long-Term Company Needs are Met

With summer officially underway and the 4th of July holiday closing in, hopefully you’re getting some well-deserved time to step away. Besides some vacation time, this lull before strategic planning resumes sometime in the early fall is also a great time to pause and reflect on the contributions of your company’s ERM program – past,…

One Fatal Error of KRIs and How to Avoid It

If you were to ask what constitutes a well-rounded, mature ERM program that delivers strategic value to the organization, many would say robust key risk indicators (KRIs) would certainly be at or near the top of the list. Writing in the book Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow’s Executives, Deloitte…

ERM to Company Misalignment: Square Pegs Don’t Fit in Round Holes

In many cases, a standard framework like the Project Management Book of Knowledge (PMBOK), JAVA for developing computer- and web-based applications, or some other business framework is the correct and best approach to take. When organizations embark on the ERM journey, one of the first (…and biggest) mistakes they make is to simply cut and…

Compliance vs. Risk Focused Software – Can One System Serve two Masters?

To save time, money, or both, many of us have the tendency to re-purpose tools and processes for something they weren’t originally intended for. Depending on the circumstances, this approach sometimes works … Take, for example, a client who uses a system called Jira designed for facilitating IT help requests. With a few tweaks, this…

6 Steps to Building a Vibrant Performance-Focused Risk Culture

Even without the disruptions and displacements caused by the COVID-19 pandemic and various responses to it around the world, companies are experiencing an unprecedented amount of challenges that were unheard of as recently as a decade ago. Changing regulations, shifting consumer demands, rapidly evolving technology, and an overall uncertainty of what the future holds are…

ERM Pioneer Shares Technique for Anticipating Long-Term Risks and Opportunities

Thinking about the long-term is not something we automatically do…after all, with the constant ups and downs and various trip wires out there, we feel that if we make it through the next year or even the next quarter, we can consider our corporate strategy a success. This mindset can be destructive in the long-term…

6 Ways to Improve your ERM Program’s Scalability

Regardless of whether it’s an exercise program or business endeavor, there’s a certain energy and excitement when starting something new. We work with great anticipation of the benefits our efforts will bring. But as the old Proverb originally coined in the Robert Burns poem To a Mouse says, “the best laid plans of mice and…

5 Ways to Improve ERM’s Reputation with Executives

The COVID pandemic of the last year blew the lid of uncertainty wide open… And while restrictions are easing and many are returning to the office, this uncertainty shows no signs of abating. In fact, it will continue to intensify. Now this may seem like an incredible opportunity for ERM to help the Board, executives…

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