um Balanced Scorecard (BSC) Hall of Fame (HOF).

As part of the Palladium application, the army

reviewed the requirements and conducted a selfassessment on the breakthrough results of the
organization on several hallmarks and elements as provided for when executing the Execution Premium
Process (XPP) of the Kaplan and Norton strategy execution framework. It was found out that the
weakest link, among others, is the Risk Management. In response to this, the army conducted a series of
initiatives headed by the Army Governance and Strategy Management Office (AGSMO) in partnership
with the Institute for Solidarity Asia (ISA) and the Institute of Internal AuditorsPhilippines (IIA-P) that
would develop a risk management framework and jumpstart the development and implementation of
the said PARM. In pursuit of the Philippine Army’s continuous transformation and improvement, series
of activities were conducted in order to develop the PA Risk Management Framework. A framework that
looks at the future and was modelled from ISO 31000:2009 and COSO (Committee of Sponsoring
Organization of the Treadway Commission). It comprises of three main areas of Strategic Assessment,
Risk Assessment and Risk Treatment in a cyclic loop. Similarly, the PARM concept was developed to
provide better understanding of how risks affect the strategic objectives and PARM’s role to achieve a
better outcome. In addition, the PARM framework is essential to the enhancement of the current
Philippine Army Strategy Management System, to include the enhancement of internal controls, and
strengthen the organization’s internal audit process.