-ERM evaluates the risk portfolio in the context of all significant internal and external environments, systems, circumstances and stakeholders, and recognizes that individual risks across the organization are interrelated and can create a combined exposure that differs from the sum of the individual risks.
-ERM then provides a structured process for the management of all risks, whether those risks are primarily quantitative or qualitative in nature
-ERM seeks to embed risk management as a component in all critical decisions throughout the organization