Risk Management is a highly valued discipline and eagerly sought after by organizations that are heavily regulated, requiring high resiliency, that deal with environmental, health and safety issues, involved in project management, insurance, financial services and also within the public sector. Enterprise Risk Management (ERM) is a decision support system that helps such organizations understand risk and assure the achievement of their goals.
Review the two case studies from the reading assignment this week in Chapter 3 entitled, “ERM at Mars” and Chapter 5 entitled, “ERM in Practice at the University of California Health System”.
Please answer the following questions in your initial post:
In what ways are the ERM approaches of the two organizations similar? How do they differ?
Respond substantively to at least two other students’ posts. Describe and comment on one aspect of each ERM implementation from which the other organization would benefit and explain why.
*please remember to include at least one credible scholarly reference with your initial post!