Enterprise-wide, sometimes referred to as organisation-wide, risk management describes how the discipline of risk management is practised in contemporary terms. Enterprise-wide risk management approaches the problem of risk across the organisation in a truly structured and integrated way and involves everyone in the business.

Enterprise-wide risk management looks at all facets of the business from strategic planning to operations. It takes a balanced risk approach in all areas to achieve the highest level of customer and shareholder value possible. It is important to 'View the world from a risk perspective but don't put all your effort into minimising risk. For shareholders risk is good if commensurate with an adequate level of return' (Source: Price Waterhouse Financial & Cost Management Team, CFO – Architect of the Corporation's Future, Price Waterhouse 1997).

The traditional approach to risk management has been that it should involve only a few key individuals in the organisation and focus on the risks that affect only their area. This meant that risk management was often viewed as the domain of a few and that it was fragmented.

Adopting an enterprise-wide risk management approach ensures that everyone in the organisation takes risk management seriously. It imposes structure, discipline, process and a level of conformance on the organisation to ensure risk is approached systematically and continually reviewed.