The current study is concerned with understanding the key elements of Enterprise Risk Management (ERM) system. Wates group has been chosen for this purpose as its one of the oldest companies in the construction sector. Wates group is one of the leading construction companies in the UK. The company is 119 years old and was established by Edward Wates and other 3 brothers in the year 1897. The business has seen major expansion during 1920-30s. At present, Wates group has more than 3,500 employees. Wates group is a family owned construction services company that offers construction services to retail, commercial and government clients as well. Some of the major projects completed by Wates group are Citylabs, TSB Bristol, Wates Smartspace and many more. The company is focused on achieving long-term sustainable growth through responsible business behavior. Integrity, intelligence, performance, teamwork and respect for people & communities are the key values of Wates group.