NOWECO Management Software



Enterprise Risk Manager™
Enterprise Risk Management Software

Overview

Enterprise Risk Manager™ is designed to assist organisations in managing operational risks.

The software assists the user during all steps within the risk management process starting with risk identification and risk assessment via risk analysis and decision for treatments to risk monitoring and risk communication.

The main features to fulfill these tasks are:

  • Risk Register and Risk Matrix
  • Risk Treatments
  • Risk Analysis
  • Risk Dashboard
  • Charts
  • Reports
  • Alerts

Risk Register and Risk Matrix

The risk register is the central record in risk management. It contains details of all risks identified during the risk management process. The risk register includes all information to answer the following questions:

Risk Information

The risk matrix is used to rank the risks and set priorities for taking action. It may be selected from 3x3, 5x5, or 9x9.

Risk Matrix

Risk Treatments

Risk treatments are used to respond to the risk. The risk manager makes a decision based on feasibility, effectiveness and efficiency of the risk treatments and select the most practical way of reducing risk to an acceptable level.

Information on risk treatments in Enterprise Risk Manager™ include:


Risk Treatment

Risk Analysis

Risk Analysis means learning about risks. It includes the following information:

  • Risk Assessment: likelihood, consequence and risk rank of risks.
  • Risk Category: risks within a category and the acceptable risk rating to achieve.
  • Effect of Treatments Completed: The current success of completed treatments in terms of reduction in the likelihood or consequence rating.
  • Effect of all Treatments (Completed and Scheduled): The overall success of all treatments (completed or not).
  • Risk Status: information on reporting, reviewing, and closing dates and the status of a risk.
  • Financial: The financial information about a risk is the financial display before and after treatments:
    Retained Risk
    = Potential Loss + Treatment Costs - Treatment Benefits

Risk Dashboard

The risk dashboard provides statistics relating to risk categories and treatments by diverse criteria.

The user gets a swift overview on the enterprise risk situation including due/overdue risks reviews or treatments or mitigation in progress and completed.


risk dashboard

Risk Charts

Visualisation of risk management results is an important contribution to risk communication. A Chart Wizard assists in presenting the information as response to typical risk management questions.

risk charts

All chart types allow to filter according the user's needs. Charts can be displayed in different forms including bar charts, pie charts, or x-y charts.


Risk Reports

There are a lot of options to print risk and treatment reports including the following:

risk reports

Alerts, Notifications and Self Monitoring

Risks and treatments are assigned to their owners. Users then can list actions for which they are responsible. The system has an automated email alert process. Alerts are used to remind owners of outstanding task. These alerts includes:

  • Risk reviews due shows a list of every risk belonging to the risk owner and waiting to be reviewed.
  • Treatments due shows a list of every treatment belonging to the treatment owner and waiting to be completed.
  • Reminders due shows a list of every reminder belonging to the person to be reminded and waiting for the action to be completed.

Notifications and alerts are part of Enterprise Risk Manager™'s Self Monitoring. It monitors itself with:

  • aggregated data relating to risk categories and actions
  • the number of risks relating to each category
  • active/high/critical risks
  • risk reviews/treatments due and overdue
  • mitigation in progress and completed
  • risk/treatment contacts and owners

Technical Description

Enterprise Risk Manager™ is a web-enabled multi-user Microsoft .NET application using SQL Server relational database supporting hundreds of decision makers across the enterprise. It includes Microsoft Windows single sign-on authentication, role based security for risk management in context, international dates and currencies, and translatability to any other language.

Enterprise Risk Manager™ is a product within Incom’s overall software suite known as INCOM®, and may be integrated with:

  • Enterprise Incident Manager™ to manage workplace injury and other incidents.
  • Compliance Manager to respond to the multitude of laws and regulations.
  • Control Self Assessments to validate processes and systems.

All software has the same look and feel.

Managing risks with Enterprise Risk Manager™

Risks are everywhere. They may happen to people, property, processes, business continuity, reputation or the environment. There is no success without taking risks. However, risks can be mitigated and managed. This is the job of risk management.

There are couple of regulations, standards and similar documents that require risk management because risk management is an integrated element of modern management. For example:

risk management standards

Further information and DEMO

Enterprise Risk Manager Email RequestClick to request your free evaluation of Enterprise Risk Manager.

Enterprise Risk Manager DownloadClick to download a product brochure of Enterprise Risk Manager.