Traditional risk management focuses on identifying and mitigating risks in individual business departments or divisions using a siloed approach that does not take other departments or divisions into account. Enterprise risk management (ERM) takes an organization-wide approach to identifying, assessing, managing, and addressing a broad spectrum of risks that may affect the organization's objectives and operations at all levels. These risks may include:

The Enterprise Risk Management Toolkit includes various maintained resources to assist counsel in developing and implementing an ERM program for an organization. For a general overview of ERM, see Practice Note, Enterprise Risk Management: Overview.