Exploit Opportunities and Minimize Threats
This system helps you keep an overview of all opportunities and threats. It ensures the staff and stakeholders have a common understanding of the risks, the process, and the responsibilities.
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The Risk Management system focuses on managing potential impacts to your organization or project, both positive and negative.
The system is a qualitative tool to help describe, log, and communicate risks. Users can retrieve relevant risks and mitigation actions, with the ability to add or edit entries with minimal instruction.
The key elements of the process are identifying opportunities and threats, evaluating and prioritizing them, and following up while continuously updating the risk matrix and actions.
Manage Risk
Communicate Risks and
"Lift" Functionality
Access, Ownership,
and Responsibilities
Live Matrix
Statistics, Charts,
and Reports
Risk Plan
Involvement – Get Everyone Onboard
Pims Risk Management has a "Bottom Up" approach to risk identification. It empowers anyone to participate in risk spotting. The web-based application is easily accessible from any type of device. Risks are handled at the source with a highly intuitive zero-training risk registration interface that can be pervasively deployed across all Pims apps via Pims Linked Items feature.
Each natural team may focus on risks relevant to their area. While visible within a specific domain (which could represent a project or organizational unit), information about risks, their assessments and related actions can be easily disseminated to other domains, upstream, downstream or laterally. This dissemination aspect unleashes powerful learning organization dynamics.
Communication, Decision-Making, and Control
Pims Risk Management empowers Risk Managers to efficiently categorize, prioritize, manage, monitor and communicate risks (threats or opportunities), assessments, and actions (prevention, mitigation or investments) with historical tracking, logs and full traceability of all related data.
Aside from extensive built-in, ad-hoc and configurable notification processes, the system also allows for the scheduling of assessments, for example for continuous monitoring of residual risks, so to ensure assessors are notified and residual risks remain within risk appetite and tolerance thresholds.
Pims Risk Management core user interfaces were co-created and designed together with many end-users, so to match typical usage such as shared large screens in risk management review workshops. With risk details or registers, this allows to identify risks, assign responsibility, and track actions and development very intuitively and efficiently.
Dashboards and decision-making tools additionally allow for real-time awareness of risk postures at any level. Risk potential quantitative impacts can be accurately ascertained with very low levels of uncertainty via tools such as Monte-Carlo Analysis.
Compliance with Industry Standards and Regulations
Pims Risk Management provides a comprehensive compliance framework aligned with:
- Standard requirements such as ISO-31000 (Risk Management), ISO-27001 (Security of Information), ISO-9001 (Quality Management) & others.
- Regulations such as NIS2, CRA and others stipulating the mandatory requirement to implement a robust Risk Management operational framework.
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If you’re interested in learning more about Omega 365’s solutions or would like additional information, feel free to reach out to us.