Integration and Use of Enterprise Risk Management Information

It is important to identify, measure, analyze and monitor risks such that risks can be properly managed with appropriate risk management decisions and actions to be taken on a timely basis. This paper describes ways to identify and measure various types of risks for management purpose. It suggests methods that can be used to report and/or integrate measurements of different types of risks to facilitate analysis, comparison, discussion and monitoring of risks by various parties. Through communication and monitoring of relevant, reliable and up-to-date risk information, management can make effective risk management decisions such as decisions on risk management actions/tactics for each risk identified, and prioritization of risk mitigation.