Enterprise Risk Management (ERM) tool for creating a central, visible corporate repository. Enterprise risk management (ERM) is a disciplined and structured approach where strategy, processes, people, technology and knowledge are aligned with the primary purpose of identifying, evaluating and managing the uncertainties an organisation is faced with during its drive to create value for its stakeholders. In order to convert risks into potential value, one must be able to identify, analyse and manage your risks. Risk Management is software designed to manage risks corporately across all business processes.

Risk Module enables resilient organizations to objectively assess their exposure and appetite to risks, evaluate their organizational culture with regard to risk, performance and reward, and implement sustainable risk management practices. Effective management of risk helps you to manage and improve operational performance. Some of the key features include:

  • Identify and assess risk to the achievement of your business objectives;
  • Assess the effectiveness and efficiency of current risk responses against the full breadth of strategic, operational, financial and compliance risks;
  • Reduce cost and improve effectiveness of governance, risk and compliance activities;
  • Evaluate the effectiveness of your risk culture;
  • Align risk strategy with performance; and
  • Support development of risk transfer strategies

Risk Management Business Process

The following graphical designs illustrates the different business management processes of a risk.

GRAPH DESIGNS 4

 

Risk forms and the usage of different forms

The following table lists the forms that support the risk process:

Task

Forms

Usage

Risk Registers

Risk register - All

This function allows the user creating and maintaining a new risk case. This view opens a list page for all the risks that were registered (All statuses).

Risk register - Open

This function allows the user creating and maintaining a new risk case. This view opens a list page for all the risks that were registered and in a open status (Raised, treat, analyse, validate).

Risk register - Due for review

This function allows the user creating and maintaining a new risk case. This view opens a list page for all the risks that were registered and in a status of tolerate and response date near review.

Risk register - New

This function allows the user creating a new risk case. This view opens a new risk create wizard to raise a risk case.

 

 

 

Risk Actions

Risk Actions

Use this form to view all the risk actions that are outstanding on the risks that are in the mitigate process.

 

 

 

Risk Incident Register

Risk Incident Register

This function allows the user creating and maintaining a new risk incident.