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Effective Risk Management software has proven that it can save corporations thousands and in some cases millions of dollars by recognising risks, designing controls and corrective actions and setting up action plans to prevent risks from occurring, or to mitigate their effects. The downside of Risk Management is the enormous amount of data it produces and the difficulty of refining this information so that it can be effectively employed.

Enter KnowRisk® and its capacity to handle an infinite amount of data, slice and dice it, analyse it, compact it, filter out the deadwood and let you know the risks that could seriously impact on your business. It can even let you know the potential cost if nothing is done about it.

And KnowRisk® caters for businesses or organizations of any size with a complete range of products that range from KnowRisk® Enterprise for very large multi national and national organisations down to KnowRisk® Standard for small projects or even one-man bands. KnowRisk® is truly generic. It does not impose any system or methodology on the user. If your current framework is working for you, why change it? KnowRisk® can be configured to your exact organization and your risk management framework so that you can continue to do things your way and take advantage of the power and convenience of this remarkable software tool. To broadcast your success, KnowRisk® also produces a whole range or reports that are up to the minute and can be full of detail for people at the coal face or refined down to essential elements for Board level use.

Whatever your business, there is a KnowRisk® model off the shelf and ready to be configured to your exact requirements. In most cases, the cost including implementation, start up and training, is way less than the savings in the first year.


Key Features and Benefits

KnowRisk® Knowledge Base - Designed to learn over time.

The heart of KnowRisk® is the Knowledge Base. This is a sophisticated relational database designed to lessen the effort while delivering more accuracy as your Risk Management expands.

The Knowledge Base stores the Risks identified across the organisation, together with the corresponding Consequences and Controls. It doesn't matter whether you use subjective analyses or the most sophisticated quantifiable analyses, the Knowledge Base tracks both and allows you to switch between the two.


KnowRisk® Methods and Steps - A step by step pathway to effective Risk Management.

As its name implies, this innovative KnowRisk® feature recognises that there is no single way to perform Risk Management. It also suggests that Risk Management should be a "horses for courses" discipline. Methods & Steps is a pathway to simplified risk assessment, using the core fields of Risk Description, Likelihood, Consequences, Risk Rating, Consequence Descriptions, Control Descriptions, Prevention Assessment and Controls Effectiveness. Choose a Method, and follow the Steps. 

You can use the Methods and the Steps that come with the software,or design your own. It's as straightforward as that.

KnowRisk® Profiles and Contexts - Helping you to grow from the ground up.

The process of risk management starts with establishing the context or environment of the risk, allowing for the identification of the sources or indications of risks, particularly those that are likely to occur. KnowRisk® uniquely provides for a range of standard industry profile contexts that make it easy to get your risk management process under way.

KnowRisk® allows users to compare different types of profile contexts in order to realistically model their organisation's operations. Risk exposures can be aggregated to a context profile and then across different contexts to show the potential effects of a range of risks.

Hierarchies of contexts can be built to distinguish the major areas of risk. For example, there can be separate hierarchies for Human Resources Management, Security, IT Management etc. KnowRisk® is a truly functional enterprise-wide organisation tool.

KnowRisk® Layouts and Filters - How to get to the crux of the matter.

KnowRisk® is designed to be flexible and customisable.

Users can change the KnowRisk® screen display to show any combination of data they want simply by modifying the standard layouts of Profiles, Forms, Reports and Knowledge Base data entry screens. They can even apply filters to reduce information overload.

KnowRisk® Reports - As timely as the last entry.

Timely, customisable, printable reports are an essential element of effective Risk Management. In KnowRisk® every display is a living report with standard reports giving clear, concise indications of exposure, the effectiveness of controls and progress towards mitigation targets. If the standard reports do not meet your needs, CorProfit Systems can produce unique plug-in reports with your own typefaces and logos.

View (click) Sample Reports

KnowRisk® Compliance with International Standards.

KnowRisk® complies with and exceeds the Standards recommendations for Risk Management, AS/NZS 4360, and ISO 10006, in setting the Context, Risk identification, the assessment and analysis to determine the levels of exposure, optimising the treatment strategies, and establishing Action Plans for the implementation of effective controls, as well as the monitoring of Risk Action Plans.

KnowRisk® can be used to form a pure subjective approach to managing Risk with the Likelihood combining with the Consequence to produce a level of Risk (called the Risk Rating), both for the Inherent and Residual assessments. ie both for before and after the action of any Control measures have had a chance to mitigate either Likelihood, Consequence or both. KnowRisk® also provides the means for fully quantifiable analyses to be determined, including a basis for using statistical analysis to derive probability and exposure figures. The subjective and quantitative approaches are fully synchronised. ie the relationships between subjective terms such as "Likelihood" and "Risk Rating" will always be associated with quantitative measures such as "Probability" and "Exposure" respectively. This means that once you start populating, say the subjective fields first, the corresponding quantitative fields are also being populated, giving some measure of the dollar values behind the subjective words. This provides a simple means for users to gradually embrace a quantifiable analysis over time and also, a basis for using KnowRisk® in a semi-quantifiable manner.

Can KnowRisk® be used from a Subjective or Quantitative perspective?

KnowRisk® Configuration

Can users configure KnowRisk® ?

KnowRisk® comes already configured to the generic risk management processes used by most organisations for the way they want to implement their strategies. These can be used as is, or as starting points to build processes more suitable to your organisation.

This can be achieved by grouping available default fields in KnowRisk® or creating your own user defined fields. Organisational structures are easily represented in suitable tree hierarchies, and similarly for associated contexts such as work, assets and functions. Users are able to build Knowledge Databases of standard data for Causes, Risks, Consequences and Controls that in turn are reusable. The software can be used in a very simple mode, and allows users to map out their path to increased levels of sophistication.

What security does KnowRisk® offer?

Further to the organisation's IT infrastructure security protocols, KnowRisk® provides several levels of security. A system Administrator as overall authority over the database and other features.

Are there any reports within KnowRisk®?

A number of standard, as well as ad-hoc reports can be generated KnowRisk® has also been designed to integrate with other applications, such as MS Word, Excel, MS Project and Lotus 1,2,3. The reports can be at a profile level, or aggregated to any level of the organisational tree structure.

KnowRisk® Technology

What platforms will KnowRisk® operate on?

KnowRisk® is designed to run on Microsoft Windows technology from release Windows 2000 onwards.

Can KnowRisk® be used over the Internet or Intranet?

Reports from KnowRisk® are web-enabled, allowing these to be published on the web. The databases can be hosted on Intranets, allowing Risks to be distributed locally and remotely within the organisation.

Which version of the KnowRisk® product is right for you?

KnowRisk® has several models that can be used in different combinations to suit the operating environment of the organisation, particularly as the data can be "downloaded" and "uploaded". KnowRisk® can be tailored to suit your current needs for Risk Management, yet always allows for subsequent upgrades without loss of any data that has already been captured and stored. Guardian Mentor can assist customers by offering the right advice as to where to start and which product variant would be suitable initially. The primary consideration is the extent to which concurrent users are catered for as well as the need to share Risk information across an organisation.

To learn more about how to protect your business, contact us for further information and assistance.

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