Risks in life are inevitable and it is only wise to control them to get the desired outcome of our hard work. In order to move forward as a community, one needs to take a certain amount of risk to progress and research various possibilities for better outcomes. As a fast growing society, we need to minimize the potential risks to flourish further at a faster rate. Thus, risk management is to analyze, understand and address those risks to achieve our objectives. Risk management has become an integrated part of most of the organizations and industries. Enterprise Risk Management (ERM) is one such integrated program which helps the organizations to manage and minimize the potential risks and help them make more progress with these techniques in place.