Contributed by Rodney F. Davis
Once the overall Objectives, Goals, Strategy, and Measures (OGSM) have been established for a firm or organization as part of the strategic planning process, the real work commences to begin monitoring the progress towards OGSM along with the intent of maintaining a competitive economic edge and increased profitability. During this monitoring, risks are deferred, mitigated, transferred, or tolerated\accepted based on the risk appetite of the firm and the overall Enterprise Risk Management Strategy.
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