What Enterprise Risk Assessment Methodologies Are Out There, And Which One Should I Choose?

Enterprise Risk Assessments need an efficient, well-organized approach in order to align their results with strategic business objectives. The system you use to build your risk management program needs to be both efficient and easy to use.

There are a few ways this can be done. Some organizations choose to implement manual Enterprise Risk Assessments, by using spreadsheets. Others use an automated ERA system to structure their results. In this article we've compared the two methodologies, and outlined the pros and cons for each.

In this article, you'll learn how the different methods affect:

  • the accuracy of your results
  • your budget
  • the time and resource allocation of your team