The CAS committee states that this involves continual scanning of the risk environment and
evaluating the performance of the risk management strategies, and the feedback into the context setting step of the process and the cycle repeats again and again, continuously.
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The ERM process in a generic sense is a reiterative process in which certain sequential activities are
carried out starting with establishing a context, and then identifying events, analyzing and quantifying
risks, integrating risks, assessing and prioritizing risks, and finally treating risks/exploiting
opportunities. The monitoring and reviewing activities are continuous and concurrent with these
other activities.