In the 2010 survey by KPMG and the Economist Intelligence Unit, “The convergence challenge Global survey into the integration of governance, risk and compliance”, it is identified that the main objective of GRC is to “improve performance and efficiency”. In the same survey, approximately two thirds of the respondents said that GRC is a priority for their organization, “driven by business complexity, a desire to reduce risk exposure and a need to improve corporate performance”. Businesses of all sizes can benefit from the proper use of GRC as it ensures that an organization is operated efficiently and effectively, risks are properly managed and compliance with internal and external rules and regulations is continuous. OBJECTIVES The “GRC Essentials” project, will amalgamate and adapt the concepts of Governance, Risk management and Compliance (GRC), into a concept that will be easy for SMEs and microenterprises to implement in their business and work environment. The intellectual outputs of the project will be a combination of learning material, a learning platform and work-based learning activities. GRCEssentials project builds on the EU project ‘CASSANDRA’ (in which emcra & Tournis participated, https://cassandra-resilience.eu), a project aimed at helping SMEs to develop a risk management system tailored to the needs of their company and to have an increased awareness of possible business risks and threats, and on the EU ‘project IPEC’ (ETA, emcra & CPMS participated, http://project-ipec.eu), a project which developed a new micro-lite Project Management methodology, based on the needs of small and micro enterprises. The project begins with the GRCEssentials Curriculum and concludes with the GRC Essentials Work-based learning. In between the project will develop the GRCEssentials Learning platform and the GRCEssentials Certification. TARGET GROUPS -SMEs (Owners, Managers, Directors etc), -Employees in SMEs, -VET providers/trainers/consultants, -Business associations, -local/regional/national & EU-wide networks, -chambers of commerce and industry, -policy & decision makers. MAIN RESULTS ARE: - Development of a GRC curriculum adopted to the needs of SMEs and micro-enterprises. - Development of a GRC methodology that will enable SMEs and micro-enterprises to implement GRC in their work environment. - Development of a GRC certification. - Improved understanding of the GRC concept and how it can support SMEs and micro-enterprises improve their efficiency and effectiveness. IMPACT GRCEssentials will result in measurable improvements in the performance of enterprises. It will make SMEs ‘efficient, effective and resilitent’, because they are likely to be more competitive and more sustainable in the long term, by equipping them with knowledge, employable skills and tools related to GRC.
The GRCEssentials project aimed to develop a comprehensive guide and the learning foundation for organisations of all sizes to acquire the knowledge and the competencies needed to implement GRC practices and to help these organisations to integrate GRC in their organisational culture and build the capabilities and processes to improve their performance by following the principles of transparency, integrity, efficiency and accountability. As a whole, the consortium aimed to make the target groups to: -Realise the importance of Corporate Governance, Risk Management and Regulatory Compliance (GRC) and the additional areas of Project and Data Governance. -Become motivated to better govern their organisations, manage risks efficiently and comply with their legal and regulatory framework. -Understand how the application of the GRCEssentials One Model can contribute to their organisation’s improvement. -Identify the benefits for their organisations and the areas where GRC principles can be implemented. -Analyse a business case and understand how to improve a functional area by implementing specific Corporate Governance Principles.
It is well-identified that governance, risk and compliance (GRC) practices help organisations become efficient, effective and resilient, improve their competitiveness & demonstrate to their stakeholders they have ethics, transparency &accountability as their top priorities. A GRC framework benefits organisations of all sizes to: -Achieve business objectives -Manage risks -Enhance organisational culture -Increase stakeholder trust -Optimise economic return and values -Have better strategic decision-making and performance -Improve efficiency by developing in-house the skills and competences required to “own”, manage & control risks -Operate in full compliance with applicable laws and regulations However, the majority of the industry practices and methodologies related to GRC are tailored to the needs of large corporations, which have the luxury to allocate dedicated resources and employ or train specialised employees while SMEs, SMOs and microenterprises need to develop these valuable skills and competencies internally. The GRCEssentials project provides a holistic framework that can be used by organisations of all sizes to acquire the knowledge and competencies required to build an applicable GRC culture in their environment.
In the 2010 survey by KPMG and the Economist Intelligence Unit, “The convergence challenge Global survey into the integration of governance, risk and compliance”, it is identified that the main objective of GRC is to “improve performance and efficiency”. In the same survey, approximately two thirds of the respondents said that GRC is a priority for their organization, “driven by business complexity, a desire to reduce risk exposure and a need to improve corporate performance”. Businesses of all sizes can benefit from the proper use of GRC as it ensures that an organization is operated efficiently and effectively, risks are properly managed and compliance with internal and external rules and regulations is continuous. OBJECTIVES The “GRC Essentials” project, will amalgamate and adapt the concepts of Governance, Risk management and Compliance (GRC), into a concept that will be easy for SMEs and microenterprises to implement in their business and work environment. The intellectual outputs of the project will be a combination of learning material, a learning platform and work-based learning activities. GRCEssentials project builds on the EU project ‘CASSANDRA’ (in which emcra & Tournis participated, https://cassandra-resilience.eu), a project aimed at helping SMEs to develop a risk management system tailored to the needs of their company and to have an increased awareness of possible business risks and threats, and on the EU ‘project IPEC’ (ETA, emcra & CPMS participated, http://project-ipec.eu), a project which developed a new micro-lite Project Management methodology, based on the needs of small and micro enterprises. The project begins with the GRCEssentials Curriculum and concludes with the GRC Essentials Work-based learning. In between the project will develop the GRCEssentials Learning platform and the GRCEssentials Certification. TARGET GROUPS -SMEs (Owners, Managers, Directors etc), -Employees in SMEs, -VET providers/trainers/consultants, -Business associations, -local/regional/national & EU-wide networks, -chambers of commerce and industry, -policy & decision makers. MAIN RESULTS ARE: - Development of a GRC curriculum adopted to the needs of SMEs and micro-enterprises. - Development of a GRC methodology that will enable SMEs and micro-enterprises to implement GRC in their work environment. - Development of a GRC certification. - Improved understanding of the GRC concept and how it can support SMEs and micro-enterprises improve their efficiency and effectiveness. IMPACT GRCEssentials will result in measurable improvements in the performance of enterprises. It will make SMEs ‘efficient, effective and resilitent’, because they are likely to be more competitive and more sustainable in the long term, by equipping them with knowledge, employable skills and tools related to GRC.