Integrated risk management that considers safety, security and quality management in a firm way. IRM is a bunch of practices and cycles upheld by a risk-aware culture and empowering innovations that further develop decision-making and performance through an integrated perspective on risk.

To see this comprehensive perspective on big business risk, associations should look both horizontally and vertically at how risk is managed. According to the vertical viewpoint, this implies connecting the large corporate risk decrease system to particular, quantifiable business goals, which in turn, can be met by conveying explicit risk mitigation activities across the association with help of the IT framework.

Simultaneously, an association should apply this “integrated” view across a variety of risk management activities that take on particular viewpoints of risk. For example, a legal division has its own meaning of risk and its own series of mitigation plans; yet that legal definition of risk fluctuates definitely from the way IT-related risk is being addressed. By integrating these siloed risk develops under one incorporated risk management structure, an organization can view and examine each risk metric simultaneously.