The study estimates the positive effect of ERM using EVA as a measuring proxy for firm value. EVA computes company profit by incorporating cost of capital. This paper attempts to present a conceptual framework which espouses the positive impact of ERM implementation on firm value by employing economic value added (EVA) analysis. Hence, in specifics, the primary objectives of this paper are twofold:1. to present a conceptual framework on an ERM implementation model in relation to its impact on firm’s value. 2. to hypothesize the significant positive relationships between various elements of ERM implementation with factors of EVA analysis of firm value.