If the organization uses a process-based risk management procedural order as part of its quality control system, the Risk module can be used to implement the business risk management activity.
The software’s risk analysis function enables the uniform support of the organization’s various types of risk analysis. The different types of risk analyses in a number of different areas can be run concurrently, the results of which can be managed in a uniform approach in the interest of implementing and supporting integrated comprehensive enterprise risk management (ERM). One or more, separately managed risk analysis threads/packages can be launched in the RISK module, with separate responsible persons and assessors. These can be various types of risk analyses or the separate risk analyses of separate areas.
The scope of the various risk analyses can be flexibly adjusted as regards threats and/or resources, so full-scale or partial (or ad hoc)/project-based risk analyses can be performed as well, or the security of other company areas (IT, physical, human resource, business security, and data protection) can also be taken into assessment. The risk analysis can be carried out periodically or continuously according to the needs of the organization.
The fundamental risk analysis methodological parameters and risk calculation methods can be widely customized in the software, providing an opportunity to take the organization’s attributes and the requirements of certain parent companies or legislation into account. The interpretation of effects and damages can be fully tailored to an organization and its environment (material damages, damages to goodwill, legal consequences, quality deterioration, personal injury, etc.).
Various analysis reports can be used to evaluate the risks identified in the course of the risk analysis and to make risk management decisions. Detailed measures can be planned for the risks. The implementation of task management functions assists in risk management measures with the use of responsible persons, statuses, email notifications, and reports that support even time comparisons (status as at the analysis, current date status, future planned status). The aim of risk management and reporting functions is the continuous management of the company’s risk-proportionate protection. Comprehensive text-based (docx) Risk analysis reports can be generated on the entire risk analysis and management status.