Risk Assured Stakeholders - Risk Management
Risk management is about dealing with uncertainty and its consequences on an organisation so as to deal with this uncertainty proactively to prevent them from striking. Our Risk Management Solutions help organisations reduce the costs resulting from any risk occurring.
We offer a solution to manage the entire risk management cycle including
1. Risks, Opportunities & Issues
2. Environmental Management Risks
5. Business Context Analysis
Our systems are compliant to the latest international standards Risk Based thinking requirements and we have been ahead of the standards in our product development
Risk Management stages can be classified into four major key stages:
- Likelihood of Occurrence: Even though Risk are about uncertainty, we can estimate the likelihood of it striking (probability).
- Consequence of occurrence: When a risk happens, it has consequences (impact) on the organisational goals.
- Mitigation Cost: Any action taken to mitigate the consequences (Mitigation) of a risk will have associated with it.
- Mitigation Effectiveness: Since mitigations have a cost factor, they need to be effective and their effectiveness needs to exceed the cost.
With QMSrs Risk Management Solution, you can:
- Record & List your Risks, Assumptions and Issues.
- Automatically calculate Risk Impact.
- Track Risk to Closure Globally.
- Electronic Reporting on all aspects of Risks.
- Quantify teh Risk Impact with a variety of scientific calculation of your choosing
- Instant email notification of any actions or movements
- Produce Instant Standard off the Shelf graphical reports
- Produce Instant reports that are exportable to MS tools