The performance and survival of a business in a global economy depends on understanding and managing the risks - external and those embedded within its operations. It is vital to identify and prioritize significant risks and detect the weakest points. Adding other elements to an essential ERM program (PESTEL and Porter’s 5 Forces, Treatment Plans, Scorecards, etc.), the Three Lines of Defense (3LoD) components, and Process Improvements (Six Sigma, 8D, etc.) significantly increases the ERM success rate. The authors outline a comprehensive strategy to designing and implementing a robust and successful ERM program – and not just successful in implementation but also yielding enormous returns for the organizations that implemented this enhanced ERM program.

Reviews:

“The most useful ERM program I have ever seen. I have asked the other companies on which I am a Board Member to emulate your exact program.”

Thomas McDaniel, Audit Committee Chairman at SunPower Corporation, former Executive Vice President, Chief Financial Officer and Treasurer of Edison International

“I have personally served on 12 corporate boards. On two of those companies, I worked with John where he was the chief internal auditor. He was outstanding. In both companies, he put an ERM plan into place that was outstanding. It was well structured, covered all of our major risks and, best of all, it was a plan that management bought into and owned. John is a true expert in designing and implementing ERM plans and, now with this book, in sharing with others what he knows. As I have taught corporate governance, accounting and auditing at three major universities (U of Illinois, Stanford, and BYU), I have learned that there are five key elements to having a successful company: (1) having the right leaders in place, (2) having a strategic plan and mission in place that is bought into by everyone in the organization, (3) implementing processes to accomplish the plans and mission, (4) mitigating the risks that keep you from accomplishing your plan, and (5) excellent communication processes throughout the organization to ensure that everyone in the organization is on the same page. It is often the fourth of these success elements that fails (mitigating risks) that John's excellent ERM work addresses. I strongly recommend this book to anyone interested in understanding and mitigating their risks so their organizations can be more successful.”

W. Steve Albrecht, Ph.D., MBA, CPA, CIA, & CFE; Professor Emeritus University of Illinois, Stanford, and Brigham Young University

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Peter is Intellectual Property Strategy and commercialization expert, DeepTech, MedTech, Brand Protection Pioneer, Angel Investor, Venture Partner, Author, Speaker, Educator, Mentor, and Super-Connector.