The Risk Intelligent Enterprise
ERM for the energy industry
Traditional risk management approaches may have served the energy industry well in the past, but the scope, complexity, and interdependencies of emerging risks are forcing many energy companies to adopt more comprehensive and integrated approaches.
The board of directors and senior management should consider the objectives and risk appetite of the enterprise when crafting their vision for enterprise risk management (ERM) and devising a strategy to achieving the outcome.
This whitepaper outlines key trends, issues, and drivers surrounding ERM in the energy industry, introduces the ERM capability and capability maturity model concepts, outlines challenges in building Risk Intelligent energy enterprises, and describes a way to move forward with ERM.