Risk Management

Having an effective risk management framework in place provides businesses with the best opportunity to conduct their business in an effective and efficient manner. Set the context of your organisations operating environment, clearly identify the stakeholders and interested parties you are engaging with, set out what expectations need to be met to enable success.

Good business practise along with legal obligations require that business organisations identify their operating hazards and risks. Having done this the obligation is to implement effective controls. This exposes business operations in civil and criminal law jurisdictions.

This module provides the ability to: efficiently create, manage and communicate relevant risk registers; accurately target control measures to the level of risk; provide automated reminder and notifications to your needs; align risk management processes to your critical path milestones.

The Risk Management module framework provides a business with an easy to manage tool that allows a business to allocate risk management to the appropriate level of the business based on responsibility / accountability, area of influence and time frames.

The ability to demonstrate to clients and relevant third parties that your risk management is effective and robust can be the difference in maintaining valuable clients and winning new business.

The system allows you to implement a framework applicable to your activity and identify your exposure in a systematic and consistent manner across your business. It can be segmented into Corporate, Business Unit and specific operational activities (such as projects or production facilities): Right information, Right audience, Right time.

Risk registers are created utilising approval workflows and risk matrices aligned to your operational needs. You can allocate weighting to categories based on criticality to your activity, changes in business context and potential impacts they bring. Targeted workflows allow you to demonstrate consultation requirements being fulfilled.

The management of the process is kept current by the system tracking allocated accountability against time frames, target dates, retaining feedback information from consultation activity. The system can be integrated with the inspection and incident management modules that will allow evaluation of the effectiveness of the control mechanisms in place.

Reporting and analysis can be as simple or detailed as your business needs. Programming of review actions can be aligned to existing meeting frequencies of the business so that the risk management activity can be embedded into the business.

Integration with the other system modules allows monitoring of operation outcomes against the planned risk levels and expected control effectiveness levels. Set your parameters for performance and the system can alert you to critical trends against your essential business criteria.

• Enhance and target management due diligence
• Develop and monitor business risk profile
• Link to asset life cycle management
• Categorisation of reported risks
• Management workflow
• Add / assign responsibilities
• Set reminders / notifications
• Add key dates / milestones
• Upload appropriate documentation
• Link incidents and required actions to risk profile tracking