Risk management helps an individual or organisation determine their risks and to reduce likelihood and impact; providing for better decision-making.
The importance of risk management in an organisation or business cannot be understated.
Every organisation has associated risks. These risks need to be managed in order to minimise the likelihood and impact of these risks.
For this reason, every organisation is in need of risk management. GetRiskManager offers many benefits that make it a worthwhile adoption for every organisation. For example:
Being able to access risk information means decisions are made based on the agreed information, not opinion
The reputation of an organisation is essential to its survival; and, for a business, the trust and confidence of the consumer can have a direct and profound effect on the bottom line
Within the process of risk management, organisations often discover risks that could cause them to operate inconsistently or inefficiently
Supports an organisation to achieve compliance with relevant laws, policies, and regulations
Organisations need to prepare for events such as the loss of data, people, clients, suppliers, and other disruptions. Make contingency planning a normal part of the way your organisation works
Specific control and mitigation actions will reduce the likelihood of a risk occurring, and make the impact less severe
Set the probability and likelihood of success, and ensure you focus on the best opportunities
Show all parts of the organisation the status of threats and opportunities through a standardised interface. Drive a risk-based culture centred around awareness and openness
Ensures everyone is focused not just on delivery but aware of the risks and the actions required by themselves and others
Accessible from multiple devices – from a smartphone in the field to a desktop in the office