ERM: How to adopt this effective risk management tool
Abstract: Greater regulatory oversight, tighter budgets, and increased scrutiny by donors and charity watchdog groups all mean that nonprofits are implementing fiscal and risk management practices that have been used in the for-profit world. While not foolproof, enterprise risk management (ERM) is one of the best. Instead of focusing on department- or project-level risks, it regards risk as an interrelated whole. This article explains how, implemented carefully, ERM can be useful to nonprofits.