Organizations are becoming increasingly aware of the dangers of not managing enterprise risk.
Customer and supply bases are now more globally distributed and therefore run substantial risks of environmental, operational, safety and security failures. Most organizations understand that Enterprise Risk is a significant issue that can have a negative impact on them, but few have a documented process to determine where their business risk is.
Similarly organizations are aware that they are not effectively managing the opportunities that they face. Financial, R&D, Sales & Marketing and other commercial opportunities abound and without a proper system for managing these opportunities success is often left to chance or “gut feel”.
Biznet’s Risk Management tool has been designed to provide businesses with a step by step guide to making informed business decisions. The Risk element provides a system and process to measure, monitor and mitigate enterprise risks, while the Opportunity element enables companies to progress opportunities.
Measure – Risks can be measured by estimating the probability and impact of each risk. This helps to prioritise risks and identify those which require immediate action. Opportunities can be measured through probability, cost, payback and impact. This helps to prioritize opportunities and identify which should be progressed.
Monitor – Risks /opportunities can be monitored through charting on a dynamic risk / opportunity matrix. The status of a risk / opportunity can also be tracked through a historical log facility.
Mitigate / Progress– Controls and action plans can be linked to a particular risk / opportunity. This supports the mitigation and elimination of enterprise risks or the progression of an opportunity.
Effective risk management can help companies make intelligent analytic decisions about their enterprise risk through reduction strategies. Our consultancy team provides organizations with a comprehensive risk / opportunity strategy that focus on solutions that are proven to positively impact the bottom line.
Homepage Dashboard
The homepage dashboard provides visualization of risks/opportunities which allows users to easily comprehend and convey risks/opportunities. Each pod can be maximised for a more detailed view.
Risk Matrix – displays Impact v Probability
This dashboard allows users to see in an instant what risks pose the most threat. Users can easily select which risks they wish to select for further action and then drill down into the detail. Users can switch to view by supplier or risk category.
Super Bubble Chart
The Super Bubbles view displays the number of risks/opportunities in each quadrant. This option can be turned off to view each individual risk/opportunity. Functionality includes: filter between risks & opportunities, export to excel, change plot options of x axis, y axis and size.
Geographical Heat Map
Provides a geographical representation of the data. This chart makes it easy to see the points of vulnerability. The map draws the eye to the areas that need attention.
Action Tracker
This bullet graph displays the users upcoming actions. The color coding on the homepage graph indicates which actions are at risk, on target or over target.
Compare view
Users can compare the same data set against different measures by comparing the view of the pod.
Add/Edit Risks & Opportunities
The data fields are configurable by the Site Administrator. Information that can be captured includes: title, region, supplier, category, impact, probability and manageability.
