The next contribution to this forum, based on an IBM Center report written by Karen Hardy, explores the benefits of an enterprise-wide approach to risk management. This is especially timely because of the Obama administration’s focus on accountability and transpar ency that has prompted a renewed focus on risk and controls. In addition, recent highprofile financial failures have also focused increased attention on risk and controls. Holistic ERM starts with a focus on the possible events that could potentially happen and their classification into opportunities and risks. Keeping track of these possible events requires good data and data governance managed at the enterprise level. Improved data management allows the enterprise to take advantage of modern analytical methods in order to quantify the impact of risk. Data analysis also enables the enterprise to gain an overall view of current risk, as well as trends and potential future risks. An accurate, useful enterprise risk management (ERM) process is based on sound analytics. Without valid measurements, managing risk is effective and efficient only by chance. It’s clear that implementing an ERM approach makes sense and yields benefits to an organization in managing risks and informing its decision making.