The course has been educative and interactive through the discussion section. I learned about how enterprise risk management is different from traditional risk management. With this knowledge, I will guide my organization in adopting enterprise risk management to identify, assess and mitigate risks in the organization. I learned that the traditional risk management process is usually done after a risk occurs, which results in everyone reacting to the cause resulting in a huge failure in managing the risk whereas ERM begins its assessment even before a serious risk takes place in an organization . ERM is proactive since they focus on both the present risk occurrences as well as the potential risks to emerge in the future which might affect the operations of that firm .

I learned they are various types of ERM frameworks such as The COSO ERM integrated framework, t he Casualty Actuarial Society (CAS) ERM framework, t he National Institute of Standards and Technology (NIST) ERM framework, and t he COBIT ERM framework . I learned that the application of the ERM strategy has some benefits for the organization.  ERM strategy improve s business structure, reporting, and evaluation of risks . I also learned that ERM strategy will help an organization in developing a more oriented culture. ERM strategy improves focus and perspective on risks. This is because ERM provides indicators that aid in identifying a possible risk event and giving a warning about the risk. ERM as well provides a complete perspective on the risk or potential risk .