Enterprise Risk Management Implementation Framework

This document is a guide on enterprise risk management, articulated by David Tattam from Protecht. It discusses the transition from a siloed approach to an integrated enterprise-wide risk management strategy. Tattam emphasizes the importance of linking all types of risks across an organization, allowing for a comprehensive view that supports effective decision-making. The guide outlines the necessity for organizations to redefine their approach to risk, shifting perceptions from fear and anxiety to understanding risk as an enabler of achieving objectives. It also highlights the ISO 31000 standard, which provides a structured framework for managing risks. The document details the eight key steps of this standard, focusing on aligning risk management with organizational strategy and objectives. Furthermore, it encourages fostering a strong risk culture within organizations, where every individual takes ownership of their risks. This comprehensive approach aims to enhance risk oversight and reporting, ultimately leading to better risk-reward decision-making.