In a recent article from Net Assets by the National Business Officers Association, Janice M. Abraham noted that an increasing number of independent schools are borrowing a page from universities and corporations. Schools are using Enterprise Risk Management (ERM) to help identify risks and take advantage of opportunities.
With so many emerging risks in today’s world, ERM has become a best practice for managing risk at the enterprise-wide level. There are many short- and long-term benefits to implementing effective ERM at a school. An ERM implementation can: