Enterprise Risk Management Frameworks

Question 1

The strategy and objective-setting component of the framework is supported by 4 principles. What are they? (Think SOAR)

Answer 1

Strategies
Formulate business Objectives
Analyzes business context
Defines Risk appetite

Question 2

The Performance component of the Enterprise Risk Management framework consists of 5 principles. What are they? (Think VAPIR)

Answer 2

develops portfolio View
Assesses severity of risk
Prioritizes risk
Identifies risks
implements risk Responses