Now that the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has finalized its Enterprise Risk Management – Integrating with Strategy and Performance framework, it's time for companies to take a fresh look at their risk management. While the concepts in the updated framework aren’t really new, the emphasis given to them is markedly different. The focus is now on what's most important in maximizing the value contributed by enterprise risk management (ERM). The updated framework recognizes the increasing importance of the interconnection of risk, strategy and enterprise performance—particularly in conjunction with making important decisions.