Total Exposure Management: Enterprise Risk Management, Organizational Resilience and Change Management

Two decades passed since the pioneering work embodied in the AS/NZS 4360 Risk Management Standard, and in spite of the refinements offered by the subsequent COSO and ISO 31000 frameworks the concept of enterprise-wide risk management remains an elusive target. Business organizations continue to hope to transform the historically cost containment-focused risk management efforts into a true source of competitive advantage, but obstacles remain. Key among those impediments is the continued fragmentation of organizational adversity abetment efforts, where known risks focused risk management, unknown threats oriented organizational resilience and self-imposed transformations minded change management continue to function as three stand-alone research disciplines and organizational practice areas. The research described here proposes that combining those three now-distinct disciplines into a single, Total Exposure Management framework, with the goal of moving toward transforming the practice of broadly defined organization-wide risk management into a source of competitive advantage.