The enterprise risk management framework is reduced to this acronym GRRRTAL. Yes it is a frustrating exercise but well worth the self-examination, facilitation and timely responses. In short, it is about:
G – Goals
3Rs – Risk Appetite, Risk Categories, Rank Risks
4Ts – Tolerate, Transfer, Treat, Terminate
A – Take Action
L – Learning
Again, it isn’t a legalistic, checklist exercise. It is truly knowing what you and your business, enterprise, organisation, community is about, and coming together to discuss areas of vulnerabilities. Most importantly, it is about learning, to live in community – with compassion, resilience, tenacity, and openness.