Top 5 ERM Insights Posts You Need to Read Today

It’s hard to believe it’s been close to 9 months since I launched the ERM Insights by Carol blog. I hope you’ve been enjoying the content as much as I’ve enjoyed putting it out there.

If this is your first time visiting the blog, welcome!

I also want to say thank you to all of my regular visitors who continue to come and post comments either here or over on LinkedIn.

Since I have a fair number of posts on the blog now, I thought it would be a good time to provide a quick list of articles that have received the most traffic. The posts listed below represent, in large part, the fundamental building blocks of enterprise risk management and are ideal for those looking basic, straightforward information about this dynamic field.

  1. 8 Ways Enterprise Risk Management is Different (…and Better) than Traditional Risk Management

The question of how ERM is different is probably the most popular one I get, especially from those with no prior risk management experience. Explore what makes ERM unique from concepts of traditional risk management like insurance, loss prevention and more. Also learn why adopting an enterprise-wide approach to risk is increasingly becoming a requirement to handling the realities of our ever-changing world.

  1. 4 Risk Response Strategies You Will Have to Consider After Assessing Risks

Once you and risk owners have identified and assessed risks, the next logical step is to decide what to do. The primary way of determining the response to a particular risk is to compare it to your risk appetite and tolerance statements. For example, if there is absolutely zero tolerance for a particular risk, then the right approach will be to “avoid” it. Learn more about the most common ways to respond to risks, plus some examples.

  1. Launch your Program by First Establishing Governance Structure, Principles and Processes

Are you kind of new to ERM and struggling to figure out where to start? Then this article is for you!! There’s an old saying you’ve probably heard before – “a thousand mile journey begins with the first step.” Learn more about the critical first step of establishing an ERM framework for your company followed by your risk appetite, processes and more. Also, learn why having a formal governance document, risk appetite, methods and processes is so vital for an effective ERM program.

  1. Techniques Used by One of the World’s Largest Automakers for Identifying Future Risks

Short of a crystal ball, methods used by General Motors help the automaker get a fresh perspective on risks that may affect the company in the future. Besides identifying risks, these 7 methods help the company create a more robust risk awareness and conversation within and between its various business units. One interesting facet I noticed about GM’s risk ID methodology is how they will gather individuals from different business units to get a fresh perspective. Breaking down these siloes between IT, HR and customer service is a clear example of how ERM is different than traditional risk management.

  1. What Qualities Does an Effective ERM Professional Have?

If your organization is searching for an ERM professional or you have recently been assigned this role, there are certain qualities you will want to look for or develop. It’s important to note that an ERM’s job isn’t to manage risks, but rather tie the various siloes together to provide management with a cohesive view of how risks interrelate within the company. The biggest take away is that while technical elements like reporting, identification and assessment are important, executives and the ERM shouldn’t lose sight of the most important quality of an effective ERM professional – the human element.

Although these 5 posts are the most popular in terms of views, there are others that will be useful to individuals seeking straightforward information about enterprise risk management.

Some honorable mentions include:

Thank you again for visiting ERM Insights by Carol. I encourage you subscribe to the blog (top-right) to be notified when I post a new article on the site. Also, to see comments on other articles I like, feel free to connect with on LinkedIn.

And stay tuned – I’m planning additional pieces in the weeks and months ahead that explore the fundamentals of ERM and other insights regarding risks and the business enterprise.

Also, if there is a specific topic you would like me to explore, please don’t hesitate to contact me via email or LinkedIn with suggestions.

Cover image courtesy of John Athayde by Wikimedia Commons


Sign Up For Our Newsletter

Sign Up For Our Newsletter


Meet Carol

Helping companies achieve their vision and strategy, and succeeding in today's turbulent world, is something I'm honored to be a part of. Whether you're an occasional blog visitor or a long-term client, thank you for letting us be a part of your journey.

Most Recent Posts

The 12 Days of ERM Christmas

Without a doubt, one of my family’s favorite holidays is Christmas. Part of the fun, especially for our son, is seeing what “Santa” brought, but most importantly, we treasure the spirit of peace and goodwill the season brings. And after what seemed to be a never-ending warm spell, the weather is expected to be good…

Read More

Don’t Let Goals and Initiatives Be Blindsided by External Events

As the end of the year draws near, I think we’d all agree that while it wasn’t without its challenges, this year also wasn’t quite as turbulent as the previous two. While a lot of people are juggling company parties, shopping for friends and family, and special activities for the kids, most companies are putting…

Read More

Going the Distance: Ensuring Successful Execution of Strategic and Annual Initiatives

Strategic planning is a challenge – of all people, I understand… After all the meetings, risk and data analysis, and brainstorming of the preceding months, it’s tempting to think this is the end of the road and you can relax. Contrary to this common perception though, this is exactly not the time to relax, but…

Read More

Avoid Rookie Mistakes and Protect your Internal Reputation

Be honest – have you ever done something that you soon realized was a real rookie mistake? Me raising my hand… Considering the nature of ERM’s role to ask questions and challenge assumptions (often during conversations with executives), it can be argued that, in at least some cases, the expectations bar for risk professionals is…

Read More

ERM at Thanksgiving – An Illustration of Risk Management in Action

On occasion, I like to take some of the concepts we risk professionals think about in our jobs and apply them to different personal situations…take some of the same concepts we use when working with executives to develop corporate strategy and manage risks or uncertainty around that strategy. It’s Thanksgiving week in the U.S. –…

Read More

Why Quantitative Risk Assessment is Not Just the Best But the Only Option – A Conversation

Periodically, I have the pleasure of speaking one-on-one with Hans Læssøe on a variety of topics around ERM, strategic risk, and other issues and trends. As you know from my previous conversations (here, here) and posts featuring his work, Hans was formerly a practitioner at the iconic LEGO Company, but even more notably, is a…

Read More

The Three Lines Model – 3 Reasons Why I Don’t Like It

Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…

Read More

5 Avenues for Expanding your ERM Knowledge

One thing I was taught to appreciate from a young age was the value of education and knowledge. It didn’t necessarily matter what the subject was, just that I always maintain a learning or growth mindset regardless of my current status in life. This mindset has served me well over the years, and it’s a…

Read More

Storytelling and Risk Management – Developing Skills that Technology Cannot Replace

It’s amazing how technology has developed and changed our working world over time. Imagine trying to run my risk and strategy consulting firm without tools like Zoom, Box, Slack, and other ERM-specific technology tools. There is no way we would be able to serve our clients the way that we do. Just consider how the…

Read More

3 Phases to Creating and Launching an ERM Program Focused on Organizational Success

If you’ve been handed the task of creating an ERM program for your organization, let me first offer my congratulations quickly followed by my empathy for the task ahead of you. I don’t say that to scare you but to provide a small dose of reality. Building, launching, and refining an ERM program that is…

Read More