PRM (Political Risk Management): The Next Important Acronym in GRC?
This IDC Market Perspective highlights the potential to include political risk in the GRC framework. As frameworks evolve and political risk analysis modernizes, there is an increasing possibility for the inclusion of political risk in the GRC platform. With political risk holding the potential to alter the global economy, it is critical that businesses include these considerations in their business resiliency planning."The risk universe is changing in the aftermath of the COVID-19 pandemic, and companies are more cognizant in including external risks in their GRC frameworks," says Amy Cravens, research manager, Governance, Risk, and Compliance at IDC.
Please Note: Extended description available upon request.
- Executive Snapshot
- New Market Developments and Dynamics
- Political Risk Defined
- Impact of Political Risk on an Organization
- Political Risk in the Broader Risk Landscape
- Case Study
- Third-Party Risk Management
- ESG Risk Management
- Challenges with Political Risk Inclusion in GRC Framework
- Political Risk Is Not a Pain Point or a Priority
- Current Perceptions of Political Risk
- Political Risk Is Organizationally Siloed
- Dismissed as an External Risk
- (In)frequency of Consideration
- No Predefined Frameworks to Follow
- Changes in Risk Landscape That Will Promote Political Risk
- Measuring and Monitoring Political Risk
- Artificial Intelligence
- Risk Quantification
- GRC Integration Strategies
- Advice for the Technology Supplier
- Learn More
- Related Research
- Synopsis
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