Omega 365 - Risk Management
The Risk Management product helps you keep an overview of all opportunities and threats. It ensures that staff and stakeholders have a common understanding of the risks, the process, and their responsibilities.
The Risk Management product focuses on managing both positive and negative potential impacts on your organization or project.
This qualitative tool helps describe, log, and communicate risks, allowing users to easily retrieve relevant risks and mitigation actions. It is user-friendly, enabling additions or edits with minimal instructions.
Key elements of the process include identifying opportunities and threats, evaluating and prioritizing them, and following up while continuously updating the risk matrix and actions.
It should be easy for anyone to participate. That is why Risk Management is a web-based application that works on both desktop and mobile devices.
Risks are handled at the source, allowing each team to focus on risks relevant to their area. The risks are visible across the entire project or organization but may also become part of the “Top Ten Risks,” gaining the necessary attention at a higher level. In this way, the tool supports a “bottom-up approach.”
The product helps prioritize and communicate risks, while also tracking mitigation actions and providing full traceability of the historical development of any risk.
The system is designed to be used in workshops and meetings to identify risks, assign responsibilities, and track actions and progress.
Risk Management can assist with questions such as:
- Is the process effectively managing risk assessment and mitigation actions?
- Is the process helping to lower threats and increase opportunities?
The Risk Management product provides you with the following helpful metrics on how to achieve pro-activeness and quality:
- Risks where assessment is outdated.
- Newly identified risks that is not assessed.
- Risks missing mitigating actions.