Assessing the Value of Enterprise Risk Management

Authors Bailey, Michael A.; Bloom, Leon; Hida, Edward T.;
Date October 2004
Ten years ago, the term enterprise risk management (ERM) was unheard of. Today, it is ascending the corporate agenda faster than troubled organizations make headlines in the business news. What circumstances have led to this unprecedented interest in ERM? Does a consistent definition actually exist? And how does one make a business case for ERM while still meeting the expectations of external stakeholders? Assessing the Valu
e of ERM attempts to answer these questions—not definitively because there is no one approach that fits all organizations—but in a way that will enable the reader to understand the environment that has spawned ERM, to choose the definition that will best support cost analysis and implementation and, finally, to make an informed assessment of the value of ERM for his or her own organization.
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