Risk management is the identification, assessment and management of possible events that could affect the achievement of your objectives. There are both opportunities for benefit (upside) and threats to success (downside) within risk management (except safety risks where consequences are only considered to be negative).

Whilst many competing application vendors have to sell a separate product to deal with risk, risk management is an integrated capability within PerformancePlus^®. This is because PerformancePlus^® is inherently objective oriented, not just measures oriented with objectives tacked on as an after-thought.

PerformancePlus^® supports the Risk Management Standard published by the major risk management organisations in the UK:

The Institute of Risk Management
(IRM)
http://www.theirm.org

The Association of Insurance and
Risk Managers (AIRMIC)
http://airmic.com

The National Forum for Risk
Management in the Public Sector
http://www.alarm-uk.com

This can of course be integrated with other PerformancePlus^® capabilities including Performance, Financial, Resource, Process, and Programme Management.

With the Risk module and the core capabilities of PerformancePlus^® managers are able to manage their performance combining information about:

• financial performance
• non-financial output and outcome performance
• the cause-and-effect success relationships between objectives
• the change actions agreed, and their delivery or otherwise
• their process performance
• their programme and project performances
• their resource inputs in cash, people and asset utilisation
• and the risks and mitigations to the achievement of their objectives

Risk management is a rapidly advancing discipline and there are many and varied views and approaches. PerformancePlus^® provides maximum flexibility for your current, and future risk management needs.

PerformancePlus^® provides total flexibility to meet the sophistication of the determined risk policy.

The risk policy can include other measures dealing with upside assessment and more extended best practice risk management:

Here we see a typical matrix view of a risk. Shown here as a 3 x 3 view, PerformancePlus^® offers the flexibility to track even a 10 x 10 view.

To each risk we can link projects, action, compliance, ideas, and mitigating actions.

Example reports from the system could include:

• The current risk register
• Mitigating actions including tasks, who’s responsible, when due, current status.
• Strategy document(s) of identified risks, mitigation and contingency strategy.
• Action lists by person or department, due date and to which risk they relate.
• Mitigation Task listed by Risk Management sub-objective.
• Trend of overall risk scores