July 2007

With the launch of our new website, the third issue of The Risk Report outlines key features of www.risktools.com.au and how it can help your business.

You’ll also learn more about one of the new benefits of the recently released RiskOrganizer version 5.0 – a report which monitors the status of treatment measures.

News

Over the last six months we have undertaken a substantial upgrade to our website – see the results at www.risktools.com.au.

Our new user-friendly site helps visitors to immediately find risk management information relating to their business type and their specific risk management processes. The business types adopted are:

Contractors;
Consultants;
Asset owners;
Corporate management; and
Government

We have also developed a specific area for existing and new associates. Join RiskTools as an associate to gain access to a range of material which can assist you with your business. Find out more at www.risktools.com.au .

Case Studies

Enerserve

Enerserve, the engineering and construction division of Energy Australia, has been using RiskOrganizer for its major projects for several years. Assimilating the product into Enerserve company processes - particulary ongoing management - took time to become the ‘norm’, so a series of steps were undertaken to help the company.

RiskTools:

Assisted in the final development of a risk management procedure specific to Enerserve.
Facilitated risk workshops.
Trained the company in risk management, including how to use RiskOrganizer.
Helped Enerserve establish a monthly reporting system which assists senior management to understand the risks at a programme level for the major project business unit. In particular:

The risk profile for each project;
Changes to the risk profile over time;
A summary of high and significant risks; and
Identification of those risk that require senior management input.

“Risk management is now a core part of our projects. As you would expect, it has helped the project managers manage their projects but it has also helped with reporting to our client and managing their expectations,” explained Walter Stefani, Enerserve’s Major Projects Director.

Technical developments

RiskTools’ focus is on helping business to undertake risk management. A component of this focus is reporting not just on the risks but also on the risk management process.

This requires users to implement new procedures. We know that when users can see the benefit of risk management, it becomes easier to make the changes required.

With that in mind, RiskTools has developed a new report for RiskOrganizer which monitors the status of treatment measures.

The new report ‘flags’ those treatments that are overdue and highlights them using ‘traffic lights’. This report can form the basis of a key performance indicator (KPI) that helps to ensure risk management occurs on a regular basis, and helps management to ensure their teams are undertaking allocated treatments.

To find out more about how RiskTools can help your business, visit www.risktools.com.au or contact us at support@risktools.com.au

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