The Enterprise Risk Management Framework (ERM) is a structured approach that organizations use to identify, assess, and manage risks that could impact their objectives. It helps businesses understand potential threats and opportunities, ensuring they can make informed decisions. By integrating risk management into their processes, organizations can enhance their resilience and improve overall performance. The framework typically includes several key components, such as risk identification, risk assessment, risk response, and monitoring. It encourages collaboration across departments, fostering a culture of risk awareness. Implementing an effective ERM can lead to better resource allocation and strategic planning, ultimately supporting the organization's long-term success.