Risk Mitigation

If ERM doesn’t change decisions, what is it for?

2026-02-25T16:24:00

decision making

Heat maps are updated. Reports are delivered. But are decisions any better? Stefan Hunziker, professor of risk management at Lucerne School of Business, says ERM proves its value only when it alters the choices organisations make.

Many organizations can demonstrate that they have enterprise risk management in place. Far fewer can demonstrate what difference it makes. Even fewer can show that it changes their most important decisions.

Processes are defined. Risk registers are populated. Heat maps are up to date. Boards receive regular reports. From a governance standpoint, everything looks in order. Yet a more fundamental question remains. If ERM does not shape strategic decisions, what is it for?

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