Resilience and Enterprise Risk Management
Guest Post by James Kline (first posted on CERM ® RISK INSIGHTS – reposted here with permission)
The term resilience is used in reports and studies by numerous government agencies and international institutions. For instance, in 20014 the Organization forEconomic Cooperation and Development issued a report entitled “OECD Reviews ofRisk Management Policies: Boosting Resilience Through Innovative Risk Governance”.
In 2015, the Rand Corporation conducted a study to the UnitedStates Department of Energy. It was entitled: “Measuring the Resilience of Energy Distribution Systems”. Resilience is considered important by insurance experts. The National Academies of Sciences, Engineering and Medicine note the need for resilience when updating the National Highway System. This piece examines why it is important, what resilience means and its relation toEnterprise Risk Management (ERM). [Read more…]