How Can you Use Enterprise Risk Management (ERP) to Identify and Manage Risks Related to Natural Disasters?

1. ERM Framework

Before you can use ERM tools, you need to have a clear and consistent framework that defines your risk appetite, objectives, governance, policies, and processes. A well-designed ERM framework can help you align your risk management strategy with your business goals, culture, and values. It can also help you establish roles and responsibilities, accountability, and reporting mechanisms for risk management. There are various standards and guidelines that you can use to develop your ERM framework, such as ISO 31000, COSO ERM, or IRM.

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