Numerous great companies, with amazing potential for growth failed due to their inability to face external risks or incapacity to manage internal risks. Enterprise Risk Assessment is not just a "nice to have" initiative, but it can immensely benefit your organization.

Enterprise Risk Management helps your management to make informed decisions. Some of the benefits of ERM are:

- Financial and operational risks analyses (identification, assessment, evaluation/rating, planning and management)
- Identification and prioritization of risk mitigation initiatives
- Identification and assessment of internal controls and control gaps
- Recommendations on internal control and business process opportunities for improvement
- Preparation for regulatory requirements (external audit, SOX certification)
- Identification and analysis of critical information that can be used for strategic initiatives implementation

Each company is different, its internal processes, management style or value proposition, as such we approach each ERM project differently, guided by the following:

- COSO framework/methodologies: to better achieve your performance and profitability targets, prevent the loss of resources and ensure effective reporting and compliance;
- Top-down risk approach: considering your company goals - strategic, operational, financial and reporting/ compliance
- Risk classification and rating: entity-wide vs. business process risks; rating based on materiality , impact and likelihood of occurrence
- Practical deliverables: control matrices, risk assessment reports detailing the gaps and recommendations for their remediation

Failure in strategic and operational initiatives elaboration and implementation are mainly caused by the lack of relevant information in the decision making process or by the incomplete analyses of these initiatives positive and negative implications. These scenarios could be prevented if you know your company risks and manage them appropriately.