Management Strategies

Enterprise Risk Management Strategy - The Lite Program for Your Utility

Enterprise Risk Management Strategy - The Lite Program for Your Utility

Just because your utility or electric coop is small or mid-sized does not mean you cannot have a formal enterprise risk management (ERM) “lite” program. An ERM program merely formalizes things you do as a regular part of business and places a robust protocol around mitigating risk and documenting the approach.

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Would an “Enterprise Risk Management Lite” approach work in your co-op or utility?

Would an “Enterprise Risk Management Lite” approach work in your co-op or utility?

Using an “ERM lite” program is an approach that any organization can use, whether you are a staff of one or twenty. The lite approach has many elements of a more formal program. Here are some insights into the elements that go into a program that can be a unique fit and help you sleep at night by planning for potential events. The lite approach, in many cases, puts a more formal touch on things you are doing already.

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