I enjoyed COSO’s latest publication, Enabling Organizational Agility in an Age of Speed and Disruption. This is how COSO described it:
As radical change transforms the world we live in, organizations should regularly align their enterprise risk management (ERM) process with the current business environment and their strategic goals, according to new guidance issued today from the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Enabling Organizational Agility in an Age of Speed and Disruption is intended to serve as a guide to help organizations succeed by being more anticipatory, agile, and adaptable. The guidance highlights many of the COSO ERM risk principles and how they relate to an agile business environment, and numerous ways are identified that show how the COSO ERM principles link to agile approaches.
Frankly, while COSO has to support its own ERM framework, the important message in the document has little, if anything, to do with developing and maintaining the risk inventory (another term for a list of risks) advocated in the COSO framework.
I suggest reading the publication and setting aside the references to COSO ERM.
In fact, the overall message is correct and is quite different from maintaining a list of risks, even if that list is linked in some way to strategic…
