Panduit's Enterprise Risk Management Program Case Study

This case study outlines the development and implementation of Panduit's Enterprise Risk Management (ERM) program, initiated by the risk management team in 2018. The program was designed using a hybrid framework based on ISO 31000 and COSO standards, aiming to enhance risk accountability across the organization. By early 2019, the program was operational, supported by an enterprise-wide survey that informed the creation of the first risk register. The study details the challenges faced, particularly the administrative burden from using multiple software applications for risk management tasks. To address these challenges, Panduit opted for a technology solution, specifically Origami Risk, which offered features like configurability, automated workflows, and an integrated data import tool. The implementation process began in early 2020 and continued despite the pandemic, benefiting from remote collaboration. The case study concludes with insights into the ongoing refinement of the ERM program and the anticipated enhancements to risk metrics and reporting capabilities.