Easy Risk Management

[Lola Bergo]

ExcellentEasy to Use Platform at an Incredible Low Cost. Very easy to use, setup and understand. Very, very low cost. Has a sleek look with a simple drag and drop heatmap. Includes tutorials and tips for users and has great customer service too. Very good experience and very pleased with the platform. All of our senior management have been very complimentary of this product and are very surprised at the low cost.

Ease of overall use. The setup was painless and the ease of use in general is very good. Very positive overall. The customer support function and abilities are superb. Calls are answered within hours.

Manual Risk Assessment to Cloud-Based Online Tool. What we like about GOAT Risk is the ease of use. It very user-friendly at a very reasonable price. We can also customize the system according to the business needs. Now we have one single source of truth as we can easily see per departments risk register.

Great Product. It includes risk theory without being overwhelming. We have noticed that people with no formal risk management training are able to use the product. Goat has simplified our risk management process and its ease of use has changed the risk culture throughout our organisation. I would highly recommend this product.

Easiest RM system to use. Its intuitive, easy to navigate and find your way around without much training required. The Dashboards and Risk Register reports are great providing a clear view of the risk assessment, risk exposure and all linked items (such as actions, controls, KRIs) in one place.

Easy to use and very cost effective. The system is intuitive, when we have needed support it has been easy to liaise with someone and it has really helped with managing operational risk at our business.

Overall my experience so far has been very positive. It is a very quick and easy system to use, and capable of handling our existing risk methodology, with options for further development as our risk maturity improves.

I have found GOAT to be a really useful tool that has allowed us to evolve from the old spreadsheet recording system. It makes the management, oversight and reporting of risks more collaborative and straight-forward.

Simple, cost effective and a joy to use. A powerful tool that allows risks to be taken out of a spreadsheet and shared. Very simple to deploy and use, the ability to assign the risk and actions to risk owners and have the program automatically follow them up is appreciated. Used for Risk Register preparation at Enterprise level.

We are introducing GOAT to centralise the recording and reporting of risks across the organisation. In turn, GOAT will help improve the risk culture and awareness of risk across service areas, especially where there are relationships and interdependencies. The software is intuitive and simple to use without over complicating the risk information which is needed from each risk owner.

This is easy to use and provides great reports to facilitate the board and understanding of risk registers. It is presented very well. GOAT offer great follow up support to help with any queries during the initial set up phase and beyond. I genuinely believe that this is a top class product developed by people who understand risk but also the need to simplify its delivery. Simply brilliant.

Sensible, fully transparent pricing, appropriate for all roles that deal with risk (risk expertise not required). Suitable for organisations of all sizes and industries seeking a simple, pragmatic, yet professional approach to risk management. Risk free monthly rolling subscriptions with no minimum contract. Or choose an annual plan and receive 12 months for the price of 10.

With our Editable Risk Universe feature, you can make this entirely your own, creating and maintaining a standardised and relevant risk taxonomy for the faster creation of comprehensive risk profiles.

The Request Update feature allows the system administrator to send a custom message to the owner of a risk or all the risk owners within a profile requesting an update. Risk owners receive a workflow email with the message and a record of the request is created in the comments.

The purpose of this article is to share with you some basic Risk Management concepts which in my experience have proven effective when managing a project. The article is broken up into three sections: What is Project Risk, What is Risk Management, and Risk Management Approach.

Before we discuss project risk, let us first focus on what needs to be considered prior to starting a project. In evaluating a project, first we must ask ourselves, from a business standpoint, should the project be done? Second, from a technical perspective, can it be done? Finally, from an end users perspective, will it work when it is done?

Those who are familiar with the PMBOK understand there are nine project management knowledge areas: Integration, Scope, Time, Cost, Quality, Human Resource, Communications, Risk and Procurement. It is important to understand that we must manage risk within each one of these knowledge areas, although it is not possible to cover all possible types of project risks within this article.

It is important to note that Risk Management is not something performed at a specific point in the project but throughout the life of the project. I have found success in applying Risk Management by following four basic concepts, summarized in the following diagram:

Let me again emphasize the importance of starting with a simple approach and then adding detail if necessary. For example, we could add built-in advanced warning measures to flag when a risk might occur or input a formula which would list risk importance based on priority level and impact level. The decision to include more detailed information is at the discretion of the project manager; generally it is always easiest to keep everything as simple as possible.

We have provided a basic understanding of Project Risk and Risk Management. We will now discuss an effective approach in applying Risk Management to a project. Before we can begin to practice Risk Management we must first have a clear understanding of our objectives.

Finally, by following a simple set of rules, we can effectively fast-forward into the future and identify all the problems that may have happened but did not because we had an effective Risk Management plan.

After performing the Risk Analysis, each identified risk, its probability and impact, and mitigation or preventive actions for that risk can be summarized in a Risk Assessment Matrix (see sample below).

Periodically, the project manager should lead the team in a review of the Risk Assessment Matrix to capture any changes that may have occurred and modify the mitigation or preventive actions as needed.

As discussed earlier there will always be some degree of risk in a project environment. Project risks typically include funding, schedule, quality, political risks, scope, contract/vendor relationships and management processes. The underlying concepts of Risk Management are not very complex. By following a simple set of concepts, we can take advantage of the Risk Management process to improve project execution.

Risk management is an essential process for any well-managed project. Therefore, the new Easy Redmine plugin brings all necessary features for risk identification, assessment, monitoring, and aversion.

It is designed both for Project managers to manage project risks, as well as for executives and senior management that need to deal with global risks threatening more projects or even the whole company.

Identify and asses each risk character using customizable risk attributes such as Category, Status, Probability, Impact, Severity or Response. Assign the risk to a particular project, and choose necessary response status to either avoid, mitigate, accept, or transfer the risk.

Once you choose necessary response status to each risk - to avoid, mitigate, accept, or to transfer, it is time for execution. Using project management features such as checklists or tasks with deadlines, you can effectively engage your team and manage all necessary steps to averse the risk.

"Easy Redmine met our needs out of the box. The product is feature rich and the price is low compared to products with similar features. We are satisfied with the performance of the product and would not hesitate to choose it again."

Easy Redmine is a great software that helps us manage project costs, better define our work and is packed with many features that were missing in Redmine. All this embedded in a user-friendly interface.

We adopted Easy Redmine six months ago in order to control all of our web projects. We are very happy as we now have a strong visibility in terms of control of costs and staffing resources and we also have a powerful tool for interaction with our customers.

The focus of organisations on risk management has increased due to extended governmental requirements, increased demands for transparency and sustainability and compliance towards standards. As structured and analytical risk management has direct effects both on profit, reputation and the environment, handling risk on a strategic and on an operational level is a key factor for building a competitive advantage. This web-based software ensures that risk managers can base their decisions on real time information.

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Back in 1970s scientists had a breakthrough in understanding how human brain works, what influences our decisions, how cognitive biases impact on our perception of the world and so on. Daniel Kahneman and Vernon Smith received a Noble prize in Economic Sciences back in 2002 "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty". I am amazed how many risk managers and consultants continue to simply ignore this research. Identifying, analyzing and dealing with risks is against human nature. Stop kidding yourself. The sooner we, as a professional community, accept this, the easier it will be to integrate risk management into decision making.

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