All companies face and manage a variety of risks every day. Some risks are extremely important and others not so much. So how do you know which ones are which? Having a good enterprise or business risk management program helps to identify, measure and prioritize the organization’s risks. This is best done using a defined methodology and with the oversight of senior management and the Board of Directors. Additionally, a good ERM program promotes a common understanding within the organization of the company’s risks and their potential consequences.