Enterprise-Wide Risk Management: Taking Off on the Wings of a CRO

by Robert N. Charette

As described in Cutter Consortium's Business-IT Strategies Executive Report, " The New Risk Management" (Vol. III, No. 9), today's business environment contains more diverse kinds of risks and rewards than ever before, ones that few organizations have much, if any, experience in managing. Business situations are increasingly ambiguous, volatile, and unpredictable, and they have potentially huge windfalls or huge liabilities associated with them. What represents risks and what represents rewards in individual business decisions are not readily identifiable, often even in retrospect.