Every governance area consists of a host of different events, governance, assessment, mitigation, and monitoring activities that must be carried out in order to truly protect your organization.
Many people are unaware of the sheer complexity of enterprise risk management, while others who are aware have trouble wrapping their heads around how each piece fits together.
We created the Risk-Based Approach Wheel to give professionals of all types a visualization of how these activities go together. Enterprise risk management is most effective as an iterative process in which each activity builds off each other. Most importantly, the key to navigating this complexity is engaging people across all levels and departments of the organization.
Use the Risk-Based Approach Wheel to demonstrate the order of operations enterprise risk management should follow and how engagement keeps the wheel turning.