Definition(s)
Enterprise Risk Management
Comprehensive approach to risk management that engages organizational systems and processes together to improve the quality of decision making for managing risks that may hinder an organization’s ability to achieve its objectives
Sample Usage: An organization uses enterprise risk management processes to holistically consider the risks associated with personnel turnover.
Annotation: Enterprise risks may arise from internal and external sources. Examples of internal sources include issues such as financial stewardship, personnel reliability, and systems reliability. Where internal risks threaten successful mission execution, enterprise risk management seeks to ensure that internal systems and processes are tailored to minimize the potential for mission failure. Examples of external factors include, but are not limited to, global, political, and societal trends. An organization will modify its enterprise risk management approach to take these risks into account.
Source: DHS Risk Lexicon, U.S. Department of Homeland Security, 2010 Edition. September 2010 Regulatory Guidance
Enterprise Risk Management
A comprehensive approach to risk management that engages people, processes, and systems across an organization to improve the quality of decision making for managing risks that may hinder an organizations ability to achieve its objectives.
Extended Definition: Involves identifying mission dependencies on enterprise capabilities, identifying and prioritizing risks due to defined threats, implementing countermeasures to provide both a static risk posture and an effective dynamic response to active threats; and assessing enterprise performance against threats and adjusts countermeasures as necessary.
Adapted from: DHS Risk Lexicon, CNSSI 4009
Source: NICCS™ Portal Cybersecurity Lexicon, National Initiative for Cybersecurity Careers and Studies (https://niccs.us-cert.gov/glossary) as of 11 November 2015, Global Standards