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In a global uncertain business environment, rife with constantly upcoming new risks (internally & externally), an approach is needed to identify and manage risks & events that could affect the organization: Enterprise Risk Management (ERM).

An RM methodology is required in order to prevent the risks from causing the organization not fully achieving its objectives and not meeting the requirements it is subject to.

Avertim’s methodology consists of 6 steps, evolving in an ongoing RM-cycle:

CONTEXT & RISK IDENTIFICATION

CONTEXT & RISK IDENTIFICATION

Contextualize the organization’s environment and identify internal and external risks.

RISK ASSESSMENT

RISK ASSESSMENT

Prioritize key risks according to their criticality level.

RISK RESPONSE STRATEGY

RISK RESPONSE STRATEGY

Select a Risk Response Strategy, based on the organization’s risk appetite to align the risk strategy.

RISK ACTION PLAN

RISK ACTION PLAN

Plan and validate a concrete set of actions.

RISK STRATEGY IMPLEMENTATION

RISK STRATEGY IMPLEMENTATION

Integrate the set of actions into the organization.

MONITORING & ENHANCING

MONITORING & ENHANCING

Creation of an on-going process of Risk Monitoring.