Futron is a proven provider of Enterprise Risk Management services to government and commercial organizations. Enterprise Risk Management (ERM) aligns an organization’s goals, objectives, strategies, processes, people, technology, and knowledge to create value. The enterprise view of risk management looks across traditional functional, organizational, or cultural barriers to manage key business risks and opportunities to maximize value for the enterprise as a whole.
Traditional risk management practices achieve results, but are limited to one category of risk (safety, compliance, financial, etc.) or practiced only in parts of an organization. ERM builds upon existing risk management practices by encouraging the deployment of best practices across the entire organization and developing common tools and terminology so that risk information can be shared. This improves the risk management capability within each organization entity and provides a portfolio view of risk to enterprise-level decision makers.
Benefits of ERM include:
- Reduces unnecessary expenditures by mitigating risks before they become costly problems
- Improves quality of decisions by incorporating uncertainties with facts enabling risk-informed decisions
- Creates high-performing organizations by focusing attention on key business objectives
- Improves management of capital by identifying strategies with greatest impact
- Creates pervasive, proactive organizational culture by recognizing and rewarding problem avoidance
- Increases stakeholder confidence by demonstrating good stewardship