PM2 scorecard over ISO 31000 Responses

If I were the ERM consultant for Intuit, I would recommend Risk Score Card to re-implement their ERM. Intuit as a company focusses more on their strategic plans and they consider ERM to be part of any individual or teams associated with the company. ERM is an authority by which a company in an industry gains access, controls, exploits, and monitors risks from all avenues with the intention to increase the firm's long and short-term value for its stakeholders (Saeidia, Saeidia, Sofiana, Saeidib, Nilashic, Mardania, 2019). Considering their organizational structure, strategic goals, culture and management I believe that developing their ERM program with Risk Score card will be useful to the organization. Risk score card is developed with strategy as a focus element thus it fits well with the requirement for Intuit. To develop ERM program with Risk score card we need to fulfill following requirements: Identifying goals, vision and strategy of the organization Identifying the major risk elements throughout the organization Scoring the risks with respect to the objectives Measuring the impact of the risk with respect to strategic objectives Measuring impact on the performance due to risks with respect to strategic objectives Identifying the key indicators of the risk so as to avoid it in the future Determining the follow up action steps to mitigate the risk With this ERM approach we can achieve a lot of key factors including risk assessment, risk measurement, risk identification, risk culture, impact of risks on various strategies, risk reporting, enterprise risk management process etc.