September 24, 2021 by Risk Management, Made Just Right Weak risk management is a primary cause of capital project and STO failure regardless of industry. Besides risk identification within individual events, an effective risk management strategy must identify threats and potential failure points holistically—across the entire organization. Frameworks exist that promise consistent results but they rarely deliver, because most approaches to Enterprise Risk Management lack the data analytics that allow your organization to identify and prepare for threats to objectives and operations. AP-Networks’ Enterprise Risk Management (ERM) Program Development combines data-driven technology with best practice methodology and professional services that guarantee results. Our ERM solution is the result of years of research and experience gained from risk management implementations with many of the world’s leading companies. We offer a consistent and sustainable framework for identifying and managing enterprise risks and opportunities resulting from human errors, failed processes, policies, systems or other unforeseen events. Our unique combination of expertise and data-driven tools allows us to develop and implement an enterprise-wide risk management program for your organization that will enhance your capacity to build long-lasting shareholder value. With this industry-renowned mix, we will empower your organization with a risk management program quantified and customized to fit your specific needs. Structure ERM Program Development We use a structured approach to ERM Program Development that combines the strength of your existing risk management protocols with the unmatched data and insight of AP-Networks. Here’s how it works: Align: Evaluate existing risk management practices, understand current organization and governance structure, determine enterprise risk profile, develop a project and change management plan supporting ERM program visionDesign: Mobilize the project team, confirm the plan, develop the company-specific ERM program to include key items (governance structure, standard language, policies, processes, roles, responsibilities, tools, templates)Train: Develop and deliver enterprise-wide training on all aspects of ERM program, ranging from boardroom governance to enterprise-wide risk quantification, mitigation, and reporting activitiesImplement: Communicate change initiatives, conduct highly specialized training within each business unit, roll out ERM program, begin identifying, assessing, reporting, and responding to risksMonitor: Benchmark and track performance, gather feedback, incorporate knowledge into continuous learning life cycle for organization Benefits of the Enterprise Risk Management Program from AP-Networks: Align risk tolerance with strategyEnhance risk response decisionsReduce operational surprises and lossesIdentify and manage cross-enterprise risksEnsure governance and regulatory complianceCapitalize on opportunitiesImprove deployment of capital