Risk & Compliance Resource Center
Enterprise risk management is a continuous process. Once risks are identified, they should be assessed to understand how to treat them. Then, they can either be controlled or eliminated. There needs to be some way to communicate the risk picture and continue monitoring. The continued monitoring may illuminate additional risk objectives - and new strategy needs to be set starting the cycle over again. Risk management tools provide a platform on which to perform this risk management cycle. Organizations need to look closely at what is needed to accomplish to budget accordingly and implement the tools needed to mitigate risks.