Strategic Thought

Disciplines of RM >

 Action Management

With emphasis today moving from reactive to pro-active management techniques, work flow supported by email alerts has become vital to support business processes.

Benefits that Risk Management can bring to Action Management

• Plans can be put in place and the effect of mitigation then estimated.
  
• Presence, adherence to and effectiveness of these plans can be measured, tracked, calculated and reported by Active Risk Manager.
• Integrated Scoring allows a comparison of effectiveness of performance and actual mitigation costs against targets.
• Recording Losses (actuals) and subsequent analysis of those losses allows a demonstrable Return On Investment amount to be calculated - the return being the reduction in losses year-on-year compared to investment (the mitigation cost). This enables you to calculate assign resources to mitigating risks that will have the most powerful effect on delivering the corporate objectives successfully.
• A controls effectiveness workflow and reporting facility lends assurance that the mitigation procedures put in place are doing the job that they purport to be doing. This is achieved through the use of published reports, automatic filters and system-generated email/sms alerts.
• In ARM today, alert mechanisms are put in place to ensure owners, managers and interested parties, are kept informed when actions are due or overdue against either their baseline due date or their current due date. 
• ARM allows direct automatic linkage between the RM system and the ?PP? system such that actions status by the Risk Managers are updated on the project.
• Action Management reports can be created by ARM.