PROED 406 - Strategic Risk Management: The Value of Enterprise Risk Management in Strategic Planning

The strategic decisions that you participate in shape the direction and success of your organization. Having the ability to make effective critical decisions is a valuable and crucial skill that helps make managers indispensable. Part of the decision-making process in strategic planning should be assessing your organization's appetite for risk-taking activities. Using an Enterprise Risk Management (ERM) approach with strategic planning ensures that all stakeholders are made aware of the existing and emerging risk within the organization, helps the organization understand their risk tolerance levels and allows them to better understand the interrelationships of risks both within and outside the organization. This workshop will explore case studies of organizations that have successfully implemented Enterprise Risk Management (ERM) into their strategic plans and the benefits they have received in doing so. This course endorsed by the Risk and Insurance Management Society and Workers Compensation Fund of Utah.