Admittedly we, the authors, are enthusiastic fans of enterprise risk management (ERM). Fundamentally we believe that good management and ERM are synonymous. However, does that mean that all organizations should implement a formal ERM system or framework? The answer to that is no. While ERM has many attractive qualities, there are costs associated with implementing and maintaining an ERM organization. Sometimes the costs and disadvantages outweigh the advantages and the benefits. In this chapter, we explore some of the advantages and disadvantages of implementing ERM and provide some issues to think about before deciding whether ERM is right or not for your organization.
The popularity of ERM implementations in a wide ...
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