How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks

Abstract

The novel coronavirus is providing a catastrophic lesson on how critical it is for business leaders to come together to share information about the different kinds of risks being triggered by this single root cause event. No single risk associated with the COVID-19 pandemic crisis can be managed in isolation given there is an interconnected aspect to these risks and how organizations can address them.

We are convinced that many of the core principles foundational to enterprise risk management (ERM) can help inform and guide executives through the difficult task of managing risks triggered by COVID-19. To assist business leaders in navigating this tremendous risk management challenge, the ERM Initiative has developed this thought paper, How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks, to outline how ERM thinking can help navigate the multitude of enterprise-wide risks triggered by the unfolding crisis caused by the COVID-19 pandemic.