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What is Enterprise Risk Management? What are the key factors that contribute to aneffective risk management program?ERM or Enterprise risk management is the process of planning, organizing, implementing, andmanaging an organization's operations to minimize the impact of risk on the organization'scapital and profits. In addition to the risks associated with accidental damage, business riskmanagement also includes financial, strategic and operational risks. There are seven critical success factors that can be used to control the effectiveness of the riskmanagement process. These factors are involvement and support through leadership,communication, culture, IT, organizational structure, training and trust. Because riskmanagement is an important part of the financial sector, efficiency is very important for projectsuccess.Top management commitment and support plays a key role in influencing the success of almostall companies in a company. Managers formulate and set goals and strategies for theorganization's risk management, tasks and general target activities. Risk management requires