Risks are potential negative consequences of future circumstances or actions; their impact jeopardises the achievement of our goals.
It is uncertain whether and when risks will happen in the future. Risk management is the response. Treatments are determined in order to mitigate both the probability of occurrence and/or the consequences of risks.
Due to hazardous impact on goals, organisations are well advised to set up a risk register showing all risks, their consequences and likelihood of occurrence. Enterprise Risk Manager™ is an advanced risk management solution that significantly facilitates the risk management process.
Enterprise Risk Manager™ is a multi-user, web-enabled risk management software which supports qualitative risk assessment. Risks can be recorded and sorted by numerous risk criteria. Risk reviews and treatment reminders allow a systematic risk management approach. Powerful reporting and charting capabilities help visualising risk situations.
Read on to learn about how Enterprise Risk Manager™ will improve your risk management process.
Enterprise Risk Manager™ addresses the primary business challenges of organisations such as ...
Costs are past, risks are future events
No serious organisation would run a cost accounting that only covers parts of the organisation - and these incompletely. Risks are very similar to costs. Costs are necessary expenses associated with a product or service sold to customers. However, whereas costs are past expenses that can be clearly identified, risks are future expenses that are neither sure to occur nor sure in terms of expenses.
Risks are future costs
For risks can caused major costs in case of occurrence it is important to observe risks. This is the job of a risk management system which identifies and assesses the risk situation of an organisation. With regard to the threat resulting from risk occurrences it becomes obvious that it is necessary to keep an eye out for risks - enterprise-wide.
Uncovering all future costs
Enterprise Risk Manager™ allows an enterprise-wide view on risks. Risks that are assigned to a specific location, area or project in an organisation are consolidated to get an enterprise view. This enterprise view can easily be displayed with lots of different charts.