The survey, published in Risk Management Professional, the IRM’s official magazine, takes a look at risk software from an ERM (Enterprise Risk Management) perspective. The survey’s aim is to help risk professionals align their organisation with an appropriate provider.
Risk Decisions’ risk management software suite Predict! received the gold standard accolade following the survey, which ranks products on a maturity curve. A gold standard system identifies Predict! as supporting advanced processes such as Monte Carlo analysis.
On the topic of choosing a tool, IRM director Alex Hindson says in the report ‘The most important consideration is outputs.’ ‘The key thing is reporting, he adds. ‘You need to be able to get the information out again and cut, dice and link information. You need to be able to provide different formats and structures to meet the needs of boards, risk committees and risk specialists.’
Risk Decisions Business Development Director Fiona Racher agrees. ‘For risk management to deliver value, organisations need easy insights into their risk exposure and quick access to reports that enable them to make strategic business decisions. This is the rationale behind Predict!’s comprehensive analysis and reporting capability: powerful filtering, ad-hoc reporting (Predict! Risk Intelligence and Excel exports), integration with corporate BI tools such as SharePoint (Predict! Connect), and Monte Carlo analysis (Predict! Risk Analyser).’
About Risk Decisions
With over 27 years in the industry, Risk Decisions has been built with a passion for risk management by both its management team and employees. It has a well-established reputation for helping major corporations and government organisations worldwide achieve improved business performance through embedding best practice risk management and analysis. Its Predict! software is implemented across the globe with key customers including BAE Systems, SELEX ES, Femern, KBR, Mott MacDonald, Babcock, UK Ministry of Defence, Australian Department of Defence, QinetiQ and Aurecon. Predict!’s flexibility to adapt to the way users manage risk and opportunities has made Predict! a leader in its field.
For more information, visit riskdecisions.com.
About the Institute of Risk Management
The Institute of Risk Management (IRM) is the world’s leading enterprise-wide risk education Institute. We are independent, well-respected advocates of the risk profession, owned by practising risk professionals.
IRM passionately believes in the importance of risk management and that investment in education and continual professional development leads to more effective risk management. We provide qualifications, short courses and events at a range of levels from introductory to expert.
We support risk professionals by providing the skills and tools needed to put theory into practice in order to deal with the demands of a constantly changing, sophisticated and challenging business environment.
IRM operate internationally, with members and students in over 100 countries, drawn from a variety of risk-related disciplines and a wide range of industries.
IRM qualified member grades (MIRM, CIRM and SIRM) are recognised worldwide as the sign of a qualified risk management professional and are achieved through examination and recognition of relevant prior learning. Fellowship (FIRM) follows through accredited practical experience.
As a not-for-profit organisation, IRM reinvests any surplus from its activities in the development of international qualifications, membership, short courses and events.