The following material may be useful for the completion of this assignment. You may refer to the documents Embracing Enterprise Risk Management: Practical Approaches for Getting Started and Developing Key Risk Indicators to Strengthen Enterprise Risk Management at the Committee of Sponsoring Organizations of the Treadway Commission Links to an external site. website.
Imagine you are an information technology manager employed by a business that needs you to develop a plan for an effective enterprise risk management (ERM) program. ERM has not been a priority for the organization, but failed corporate security audits, data breaches, and recent news stories have convinced the board of directors that they must address these weaknesses. As a result, the CEO has asked you to create a brief overview of ERM and provide recommendations for establishing an effective ERM program to address this area.
Write a 3-4 page paper in which you:
Summarize the COSO Risk Management Framework and COSO’s ERM process.
Recommend the approach management should take to implement an effective ERM program. Include the issues and organizational impact they might encounter if they do not implement an effective ERM program.
Analyze the methods for establishing key risk indicators (KRIs).
Suggest the approach that the organization should take to link the KRIs with the organization’s strategic initiatives.
Use at least three quality resources in this assignment (in addition to – and which support – the documents from the COSO website referenced in this assignment). Note: Wikipedia and similar websites do not qualify as quality resources.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all supports. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Propose a risk management program based on the COSO framework.
View Rubric
Week 3 Assignment – ERM Road Map
Week 3 Assignment – ERM Road Map
Criteria Ratings Pts
Summarize the COSO Risk Management Framework and COSO’s ERM process. (20%)
view longer description
25 to >22.5 pts
Exemplary
Thoroughly summarized the COSO Risk Management Framework and COSO’s ERM process.
22.5 to >20 pts
Competent
Satisfactorily summarized the COSO Risk Management Framework and COSO’s ERM process.
20 to >17.5 pts
Needs Improvement
Partially summarized the COSO Risk Management Framework and COSO’s ERM process.
17.5 to >0 pts
Unacceptable
Did not submit or did not summarize the COSO Risk Management Framework and COSO’s ERM process.
/ 25 pts
Recommend the approach that management should take to implement an effective ERM program. Include the issues and organizational impact they might encounter if they do not implement an effective ERM program. (25%)
view longer description
31.25 to >28.12 pts
Exemplary
Thoroughly recommended the approach that management should take to implement an effective ERM program. Thoroughly included the issues and organizational impact they might encounter if they do not implement an effective ERM program.
28.12 to >25 pts
Competent
Satisfactorily recommended the approach that management should take to implement an effective ERM program. Satisfactorily Included the issues and organizational impact they might encounter if they do not implement an effective ERM program.
25 to >21.87 pts
Needs Improvement
Partially recommended the approach that management should take to implement an effective ERM program. Partially included issues and organizational impact they might encounter if they do not implement an effective ERM program.
21.87 to >0 pts
Unacceptable
Did not submit or did not recommend the approach that management should take to implement an effective ERM program. Did not include the issues and organizational impact they might encounter if they do not implement an effective ERM program.
/ 31.25 pts
Analyze the methods for establishing key risk indicators. (20%)
view longer description
25 to >22.5 pts
Exemplary
Thoroughly analyzed the methods for establishing key risk indicators.
22.5 to >20 pts
Competent
Satisfactorily analyzed the methods for establishing key risk indicators.
20 to >17.5 pts
Needs Improvement
Partially analyzed the methods for establishing key risk indicators.
17.5 to >0 pts
Unacceptable
Did not submit or did not analyze the methods for establishing key risk indicators.
/ 25 pts
Suggest the approach that the organization should take to link the KRIs with the organization’s strategic initiatives. (20%)
view longer description
25 to >22.5 pts
Exemplary
Thoroughly suggested the approach that the organization should take to link the KRIs with the organization’s strategic initiatives.
22.5 to >20 pts
Competent
Satisfactorily suggested the approach that the organization should take to link the KRIs with the organization’s strategic initiatives.
20 to >17.5 pts
Needs Improvement
Partially suggested the approach that the organization should take to link the KRIs with the organization’s strategic initiatives.
17.5 to >0 pts
Unacceptable
Did not submit or did not suggest the approach that the organization should take to link the KRIs with the organization’s strategic initiatives.
/ 25 pts
Three references. (5%)
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6.25 to >5.62 pts
Exemplary
Exceeds the required number of references; all references are high-quality choices.
5.62 to >5 pts
Competent
Meets the required number of references; all references are high-quality choices.
5 to >4.37 pts
Needs Improvement
Does not meet the required number of references; some or all references are poor-quality choices.
4.37 to >0 pts
Unacceptable
No references provided.
/ 6.25 pts
Clarity, writing mechanics, and formatting requirements. (10%)
view longer description
12.5 to >11.25 pts
Exemplary
0–2 errors present.
11.25 to >10 pts
Competent
3–4 errors present.
10 to >8.75 pts
Needs Improvement
5–6 errors present.
8.75 to >0 pts
Unacceptable
More th
