• ERM Implementation: Minimal Footprint

  • Aug 31 2021
  • Length: 12 mins
  • Podcast

ERM Implementation: Minimal Footprint

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  • Summary

  • New website = riskcommentary.ca
    How can we roll out Enterprise Risk Management with a minimal footprint?
    Edited for length

    Principles-based approach

    1. value proposition (cost-benefit analysis) - principle: no big capital outlays; practitioners prove method through trials
    2. execution - principle: gradual, organic growth, not command and control
    3. risk ID methods - principle: rigorous definitions and procedure; integrate with existing practice
    4. policy, standard and governance - principle: minimal paperwork
    5. benefits - principle: ascertain first direct short effects then later higher order outcomes

    Summary: How do we maintain a minimal footprint in the implementation?

    KEY QUOTE
    “Program managers of new initiatives are under pressure to show results, and it is easy (but risky) to communicate promises rather than demonstrate the work. Focus on a low-key approach that relies on evidence of benefits.” (Solving the ERM Puzzle... p.75)

    LINKS
    Edited transcripts: The ERM Minimalist available at Books and Courses. Works well with Play Books (read aloud function) and Apple Books.
    (E. Robertson 2016) Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation

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