Enterprise Risk Management (ERM) is a rigorous approach to assessing and addressing risks from all sources that threaten the achievement of an organization’s strategic objectives. ERM treats managing risk holistically and strategically.
In 2006, Washington state joined other private and public sector entities striving to implement ERM as a corporate or statewide practice. Initial efforts involved a maturity model assessment tool, which the Office of Risk Management (ORM) risk specialists used to help state agencies assess their risk management commitment and activities.
ORM is committed to assisting agencies understand and apply ERM through ongoing training, information and resources. Part of this educational process is made available through the the Risk Management Basics manual – this ORM manual defines ERM in detail. For more information call Jean Jelinek at 360-407-8158.