Skip to main content

The Integration of Enterprise Risk Management (ERM) and Enterprise Performance Management (EPM)

Compliance Key INC - Enterprise Risk Management Training

                                               Gary Cokins

Gary Cokins is Keynote Speaker at Compliance key Inc. Cokin's(Cornell University BS industrial engineering/operations research) 1971; Northwestern University Kellogg MBA 1974) is an internationally recognized expert, speaker, and author in enterprise and corporate performance management (EPM/CPM) systems.
 Webinar Id:  CICGT001
 10:00 AM PT | 01:00 PM ET 
 12/15/2017
 Duration: 60 mins 
Overview
There is increasing attention regarding the "overlap" of enterprise risk management (ERM) and enterprise performance management (EPM). The former refers to key risk and control indicators (KRIs and KCIs) and the latter to key performance indicators (KPIs). How do they fit together and produce synergy?

The past decade has demonstrated that the initial ERM focus on identifying, monitoring, and avoiding potential threats was too narrow, and ERM programs ended up disconnected from the value creation cycle. More recently, executives are realizing that to actually improve organizational results, ERM must integrate risk, strategic planning, and enterprise performance management.

There is a need to manage three categories of risk: 
(1) preventable risks
(2) strategy execution risks
(3) external risks

How should an organization apply an enterprise risk-based performance management framework to match risk exposure with risk appetite? The framework is designed to help answer strategic questions such as "where do we want to go, how will we get there, and how?s our progress?" Organizations struggle with how to integrate a risk perspective into key business decision-making processes, and how to overcome the common pitfalls of integrating risk and enterprise performance management.
Failure to integrate enterprise risk management (ERM) and enterprise performance management (EPM) has hidden costs that prevent organizations from fully delivering on their value creation potential. What are the warning signs and root causes of common obstacles to integrating ERM and performance management? These may include:

  • lack of a common understanding among managers as to what enterprise performance management (EPM) is and what it accomplishes
  • lack of tools that enable managers to effectively link strategy to operations
  • lack of analysis capabilities to support risk-adjusted performance management
  • inability of cross-functional teams to align their risk-taking behavior to corporate strategy and better collaborate
Why should you attend this webinar?
  • How to view enterprise and corporate performance management (EPM/CPM) as the seamless integration of managerial methods rather than as a process.
  • How to identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators in dashboards.
  • Understanding the difference of the three categories of risks.
  • How to overcome implementation barriers such as behavioral resistance to change and fear of being held accountable.
Areas Covered in the Session:
  • strategy execution with a strategy map and its companion balanced scorecard (KPIs) and operational dashboards (PIs);
  • enterprise risk management (ERM);
  • capacity-sensitive driver-based budgets and rolling financial forecasts;
  • product / service / channel / customer profitability analysis (using activity-based costing [ABC] principles);
  • customer lifetime value (CLV);
  • lean and Six Sigma quality management for operational improvement;
  • business analytics of all flavors, such as correlation, segmentation and regression analysis, and especially predictive analytics
Who can Benefit:
  • CxOs
  • CFOs
  • Financial officers and controllers
  • Managerial and cost accountants
  • Financial and business analysts
  • Budget managers
  • Strategic planners
  • Marketing and sales managers
  • Supply chain analysts
  • Risk managers
  • CIO and information technology staff
  • Board of Directors
Compliance Key INC
717-208-8666
Labels:
Location: United States

Comments

Post a Comment

Popular posts from this blog

Essentials of Affirmative Action and OFCCP Compliance

Compliance Key INC  -  Human Resource Training Online                                                                  Janette Levey Frisch Janette Levey Frisch is Keynote Speaker at Compliance key Inc. She is founder of  The EmpLAWyerologist Firm, has over 20 years of legal experience, more than 10 of which she has spent in Employment Law. It was during her tenure as sole in-house counsel for a mid-size staffing company headquartered in Central New Jersey, with operations all over the continental US, that she truly developed her passion for Employment Law.   Webinar Id:   CICJE001  10.00 AM PT | 01.00 PM ET   01/09/2018  Duration: 90 mins  Overview If you are a federal contractor, having a firm grasp on the essentials ...
Post a Comment
Read more

Understanding Design Controls

Compliance Key INC  -  Medical Device Training Overview Design Controls are the processes used to design, develop, and manage medical devices that you manufacture. They are mandated by federal regulation, however, the regulations concerning design controls are vague in terms of the specific process steps required and the approaches that should be taken to achieve compliance should be developed. Knowing how the FDA both views and examines design controls is crucial to achieving compliance throughout the life of the medical devices you manufacture and is one of the most valuable compliance subject areas to explore. Noncompliance in design controls, which are consistently uncovered by the FDA during inspections and examinations, are concerned with the design control process that has been designed and applied and the documentation required to support each design control step. The specific sections of the regulations that apply to design controls include CFR 21 Part 820 Qua...
1 comment
Read more

SOX Compliance: Accounts Receivable Risks and Controls

Overview The accounts receivable process includes the sub-cycles of acquiring and accepting customer orders; writing sales contracts; granting customer credit; shipping or otherwise delivering products or services; billing and recording sales and lease transactions; maintaining and monitoring accounts receivable; instituting effective collection procedures; recording and controlling cash receipts; establishing pricing and promotional activities; and properly valuing receivable balances. In management's selection of procedures and techniques of control, the degree of control implemented is a matter of reasonable business judgment. The common guideline used in determining the degree of internal controls implementation is that the cost of a control should not exceed the benefit derived. The Order to Cash Process (O2C) Process is comprised of several sub-processes that must have a foundation of internal controls for SOX 404 certification process. This webinar wil...
Post a Comment
Read more