Enterprise Risk Management
Discussion and response
Subject: Enterprise Risk Management
TOPIC – ERM AT MARS AND UC
Chapter 3 presented the approach Mars, Incorporated used to implement ERM, and chapter 5 presented the University of California Health System’s ERM development. In what ways are the two organization’s approaches to ERM similar? How do they differ? Choose one aspect of each ERM implementation from which the other organization would benefit and explain why.
To complete this assignment, you must do the following:
A) As indicated above, describe in what ways the two organization’s approaches to ERM are similar. Also, explain how they differ. Choose one aspect of each ERM implementation from which the other organization would benefit and explain why.
B) Select AT LEAST 3 other students’ threads and post substantive comments on those threads, evaluating the pros and cons of that student’s recommendations. Your comments should extend the conversation started with the thread.
Discussion should be around 500-600 words
NOTE: These discussions should be informal discussions, NOT research papers. If you MUST directly quote a resource, then cite it properly. However, I would much rather simply read your words.
Attached chapter 3, 5 documents for reference
Answer preview
There are several similarities which exist between the ERM model applicable in Mars and the University of California. The first similarity is on the use of visual indicators in reporting. In Mars, color-coding is used to differentiate between the levels of urgency and also to indicate clarity. The colors indicate the risk profiles associated with each level and the initiative to be taken to manage that risk. In the University of California, dashboards, which show different colors concerning the risk identified are used. The dashboards are based on Key Performance Indicators (KPI) which show how the level of risks.
The Enterprise Risk Management (ERM) of Mars differs from that of the University of California in several ways. The first difference is on the approach taken to implement the ERM. The University of California used Community…
(550 words)