Risk Management

Risk management is one of the most  important components in empowering an organization to achieve its  ultimate vision. With proper risk management culture and knowledge, team  members will be “speaking” the same language, and they will leverage  common analytical abilities to identify and mitigate potential risks as  well as exploit opportunities in a timely fashion. In order to  consolidate efforts, the existence of an integrated framework is  crucial.  This is why an ERM is necessary to the  fulfillment of any organization’s goals and objectives. Write a 7-10 page paper  discussing the following concepts: 

Introduction – What is an ERM?
Why Should an Organization Implement an ERM Application?
What are some Key Challenges and Solutions to Implementing an ERM?
What is Important for an Effective ERM?
Discuss at least one real organization that has been effective with implementing an ERM framework/application.
Conclusion – Final thoughts/future research/recommendation