Enterprise Risk Management: The Way Ahead for DRDC within the DND Enterprise
DEFENCE RESEARCH AND DEVELOPMENT CANADA OTTAWA (ONTARIO) CENTRE FOR OPERATIONAL RESEARCH AND ANALYSIS
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Enterprise Risk Management ERM is the process of managing risk from an organization-wide perspective, in order to achieve an organizations overall corporate objectives. This is often a high-level view of the general process of Integrated Risk Management IRM which brings a systematic and deliberate approach to the management of risk, integrated throughout the management culture at all levels. This paper examines the nature of ERM in order to make recommendations on the way ahead on ERM for DRDC within the DND enterprise. It explores ERM both from the perspective of DRDCs understanding and application internally, but also from the perspective of DRDCs possible contributions to the research and development of ERM tools and practice within DND. This paper describes the general ERM process the importance of a supportive ERM culture the results of a DRDC management workshop on ERM the practice of ERM within peer organisations and suggestions for possible research areas in ERM. Two partial case studies demonstrate the application of enterprise risk management to high-level objectives, first to enterprise risk management itself and then to the science and technology program within DND.
- Administration and Management