There has been considerable advancement in the application of risk management over the past two decades in running organizations. In particular, Enterprise Risk Management (ERM) has become a broadly accepted approach to managing risk across the enterprise based on a portfolio management perspective.However, no organization exists solely to balance risk across the enterprise. That is but a part of what any organization must ultimately deliver, which is valuable to a variety of organizational stakeholders. Applying risk management in general, and ERM, in particular, requires integration into a broader set of considerations if stakeholder value is true to be optimized. This presentation will introduce the concept of Value-Based Management (VBM) as defined by Dr. Webster, which is the integrated balancing of considerations of results sought, resources allocated, and risks accepted. This balance will be explained as a portfolio management approach to a delivery maximum value to organizational stakeholders in the face of change. This concept is the subject of his new book Value-Based Management in Government. While his latest book includes content focused on public sector organizations, this VBM concept applies to literally any organization and enables a more complete discussion at all organizational levels. This presentation will focus on this broader approach to VBM.Areas Covered Developing an actionable definition of “Value”Linking value to strategy in a world of changeThe role of a portfolio management approach Enterprise Risk Management (ERM) as an element of VBM The need for and benefits from a VBM program Establishing a VBM programCourse Level - IntermediateWho Should AttendRisk managers, all organizational leaders with significant decision-making authority.Why Should You AttendMany management approaches and methodologies exist to assist individuals in successfully managing and leading organizations. Strategic planning, performance management, financial management and budgeting, and risk management are but a few of the skills that successful organizational leaders must understand. However, what is often lacking from these discussions is how they need to be integrated into an approach that focuses on their integration towards the delivery of overall stakeholder value.Dr. Webster’s development of Value-Based Management is applicable to any general manager with the responsibility to deliver value by balancing considerations of results, resources, and risks. Also, this presentation is appliable to those called upon to contribute to such conversations, such as performance management consultants, budgeters and finance professionals, risk management professionals, strategic planning staff, etc. In short, anyone with decision making responsibility in a sizable, complex organization will benefit from this presentation.