Managing risk means different things to different people. Risk management is very mature in some areas, but in most organizations, a global view of risk remains elusive. In large enterprises, risk can bubble up from all areas of the organization: business activity, partners, customers, vendors, regulatory environments, or geography.
From this perspective, properly managing contracts goes well beyond the “contract risk management” view that is common today and instead suggests a platform for grounding risk models to the realities of doing business. That platform is called Enterprise Contract Management.