Risk Treatment Plans
SMART Risk Management (RMA) software is available as On-Premise (licensed software) or On-Demand (SaaS) and is used to centrally identify, evaluate and prioritize organizational risks; plan and implement mitigation projects and mitigation controls; and help in monitoring key risk indicators across IT, finance, operations, and legal units organization.
Our RMA software helps in risk evaluation efforts using risk registers, calculates risk score based on likelihood and risk impact. While working on risk registers you can create risk mitigation plans. With SMART workflow you can track status of risk treatment plans and ensure timely mitigation of risks. Based on the type of Risk, the system also specifies the recommended ISO/IEC standard controls, which can be used for closure of risk. Automated workflow system can raise escalation alerts to appropriate personnel, if risks are not mitigated within agreed time limits.
SMART Risk Management Solution is part of Governance and Risk Compliance software suite, which has audit and compliance management modules, which allows seamless integration with other mitigation related processes such as audit findings - corrective actions, improvements, polices and change management.
SMART Risk Management tool includes the following integrated modules
- Risk Register Management
- Risk Treatment Plan Management
- Control Objectives & Controls Management
- Compliance Management for CAPA/Remediation Management
- Policy Management
- Training Management
- Knowledge Management
- Workflow Engine
- Dashboards & Reports
FEATURES & BENEFITS
- Configurable workflows are available for implementing and approving mitigations plans
- Risk parameters such as likelihood, risk impact can be easily configured in master data’s
- System provides recommended authoritative controls based on Risk Category and Type
- Organize risks based on number of different color code criteria’s such as risk categories, types, business impact, priority and many more
- Risk Resolutions can be done using Risk Treatment plans and relations can be established to with CAPA, Change Management, Polices and Documents, Training, etc.
- Create Tasks to assign work to responsible persons or groups
- Attach unlimited activity notes or tasks
- Easily perform evaluations of financial, brand/reputation, operational, and compliance impact and more
- Customizable software allows you to adopt as per your organizational needs.
- Centrally identify, evaluate, prioritize and mitigate risks to meet compliance objectives and drive operational excellence, this ensures that risks and risk management activities are being properly handled
- Initiate continuous improvement, reduce overall risk & prevent recurring issues by thoroughly addressing risk issues
- Allows you to create a consistent color coded risk rating methodology across the organization
- Identify metrics that drive risk scores/levels and define frequency with which to monitor them
- Dashboards provides you visual representation of risks and interdependencies
- Reports can be auto scheduled to designated risk owners or service managers
- Specify risk owners for risk action plans for ongoing monitoring
- System can be Integrated with standard or in house business systems applications