Using enterprise risk management to strengthen organisational resiliency: One institution’s story

Melanie J. Lucht
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Melanie J. Lucht: Carnegie Mellon University, USA

Journal of Business Continuity & Emergency Planning, 2023, vol. 17, issue 1, 61-73

Abstract: This paper discusses how Carnegie Mellon University launched a cyclical enterprise risk management framework that incorporates both emergency preparedness and response and business continuity into its purview, to deliver greater organisational resiliency. The paper goes on to describe the governance structure that defines roles and responsibilities throughout the organisation, before discussing how faculty, staff and students are engaged and educated to sense risks, and to collaborate with leadership at all levels in prioritising risks for deep-dive assessments and employing feedback loops to support continuous process improvement. As the paper will show, these cyclical practices support organisational resiliency and a greater sense of risk consciousness.

Keywords: enterprise risk management; organisational resiliency; business continuity planning; business impact analysis; three lines of defence; feedback loops; risk consciousness; risk sensing; risk assessment; risk prioritisation; risk profiles (search for similar items in EconPapers)
JEL-codes: M1 M10 M12 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jbcep0:y:2023:v:17:i:1:p:61-73

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