Risk Management

Risk Management made easier

Risk-taking is an inherent feature of all organizations. The existence of multiple dimensions such as group companies, locations, risk areas, etc., often requires the involvement of various evaluation roles and methodologies, making it difficult to manage risk and achieve the required risk level. Furthermore, apart from operational risks, risk assessment and management are integrated into all international management standards as a compliance requirement.

Risk management mainly concerns the following areas:

  • Risk identification and assessment.
  • Approval of risk assessment.
  • Risk mitigation / treatment plan.
  • Risk reassessment.

Monitoring and managing the above in multiple fields of operation is a demanding process as it includes the management of information that should be maintained for multiple contexts and by different roles involved. Failure to do so may result in taking risks with unacceptable consequences or loss of benefit due to not taking risks.

Understanding the above difficulties, PRIORITY has developed a specialized module for risk assessment and management for large organizations, which has been integrated into eQualSuite.

The features covered by this module are:

  • Multiple discrete risk assessments.
  • Support of multidimensional operations (locations, business processes, risk areas, risk categories, etc.).
  • Development of custom risk assessment methodologies.
  • Risk dashboard.
  • Report generation.
  • Preparation and monitoring of risk management / treatment plan.
  • Risk reassessment.
  • Task list.
  • Workflow.