PRM and ERM – use it in your Personal life PRM? As we haven’t got enough acronyms in risk management already, I thought another one was required– right? So, what is PRM? I just made it up – Personal Risk Management! They say charity starts at home – so why don’t we look at ERM, sorry PRM, in our personal lives? We can learn a lot from what we do well in our own lives and apply the same principles to our work lives and, bingo, we have good ERM working in our business! One of the objectives of most people in their personal lives, I hope, is: To live a long and healthy life.