ERM Implementation - Challenges

Enterprise risk management has brought a new dimension in the way of perceiving and managing organizational risks. Therefore, all organizations are now expected to bring changes in the organizational initiatives to develop right organizational model. However, introducing changes in the existing initiative is a serious hindrance in implementing ERM. Along with that, a few more issues play a serious role in hindering successful implementation of enterprise risk management.

Issues which Hinder ERM Implementation
  • ERM Objectives and Corporate Objectives are not aligned: In most of the cases, it has been found that ERM objectives are different from the organizational objectives. This difference has created resistance among individuals and groups working in the same organization.
  • Faulty conceptualization of ERM model: Keeping in mind the nature and goals of an organization, creating the best-fitted ERM model is a daunting task. However, an inappropriate ERM model often fails to yield the expected result.
  •  Top Management's inadequate dedication towards implementation: Often, the top management of the organization lacks commitment and dedication to implement ERM initiatives and eventually the initiative fails.
  •  Absence of efficient statistical tools: For achieving the best end product of ERM implementation, efficient statistical tools are the essentials. However, often the absence of the efficient tools hinders the success of ERM implementation.

For successful implementation of ERM, developing a structured approach is the key. To know more about the best practices of ERM implementation, all you need to do is attending one of the ComplianceOnline webinars on Enterprise Risk Management. The webinars are done by the critical ERM experts who are working in this field for last 20-30 years. Their immense knowledge and experience along with our easy to use on demand recordings and CDs will surely help you win the ERM implementation. Hurry! Select any of the webinars from below and witness how complying with ERM implementation becomes easier for your company:

Leveraging Technology to drive Best Practices in ERM (Enterprise Risk Management) and Compliance
This COSO Monitoring Guidance webinar/training will cover the overview of why this guidance was issued, what the benefits offered by COSO in this new 2009 Guidance and Will demonstrate practical tips you can leverage today to lower your SOX compliance costs.
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The Riskability Process - Introducing Enterprise Risk Management (ERM)
In this Enterprises risk management webinar learn how to define the risk terminology and select the right GRC Framework that ties into corporate objectives.
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Develop and execute an Enterprise Risk Management (ERM) system - 6 part course series
This ERM webinar help you to identify & proactively address risks & opportunities, business enterprises protect & create value for their stakeholders & enhance governance. The objective of this 6 part series of webinars is to arm internal auditors & risk managers with practical insights to ensure enhance their skills to embed an effective enterprise-wide risk management process. You will tackle the key question of how audit can influence risk strategy to help gain management confidence in the organization's ability to manage its risks in a fast changing environment.
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