The ERM Framework, or Enterprise Risk Management Framework, is a structured approach that organizations use to identify, assess, and manage risks. It helps businesses understand potential threats that could impact their objectives and provides a systematic way to mitigate those risks. By implementing this framework, organizations can make informed decisions and enhance their overall resilience. The ERM Framework typically includes several key components, such as risk identification, risk assessment, risk response, and monitoring. These elements work together to create a comprehensive risk management strategy, ensuring that organizations can effectively navigate uncertainties and capitalize on opportunities while minimizing potential losses.