positive risk

Practicing ERM without a Formal ERM Program

Many of the ERM resources you encounter on my blog and elsewhere focus on elements of a formal program like developing a framework, establishing risk appetite, and more. We imply, at least indirectly, that your organization must have this formal structure in place before practicing ERM. However, this isn’t always the case… Double-take – why…
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Wait a Second – You Mean We Can Have Positive Risks Too?

I know, seems counter-intuitive, right? When we hear the word “risk,” we automatically think it has to be negative. In many cases, it is. Perhaps a certain process is outdated and causing the company to lose money, or a defective product is leading to some bad press. However, some risks can be considered “positive,” at…
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