In turbulent economic times, the case for investing in an enterprise risk management (ERM) program seems clear. Deficiencies in risk management appear to be a leading contributor to the credit crisis, and many stakeholders - from shareholders, to board of directors, to rating agencies - are taking a closer look at a company's approach to risk management.

But while the value of an ERM program may be hard to dispute from a good management perspective - gaining improved controls, better communication, and a common risk language - risk managers and other senior leaders are frequently asked to demonstrate that their efforts add quantifiable value to their companies.

According to this white paper, as business activities and capital investments come under increasing scrutiny to optimize competitiveness and enhance returns, the call to justify ERM's measurable value keeps getting louder.