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RTI Introduces RiskNAV

Built with MITRE Technology

January 18, 2005 -- Risk Services & Technology (RST) has recently signed a technology transfer contract with the MITRE Corporation of McClean, VA. RiskNav was initially developed for ARPA and other government agencies. MITRE has supported RiskNav until now with limited R&D resources. RST now has the challenge of taking RiskNAV into the commercial marketplace.

RiskNav – A Decision Aid for Prioritizing, Displaying, and Tracking Program Risk

McLean, Virginia, January 18, 2005 — The MITRE Corporation's Technology Transfer Office has licensed its RiskNav® technology to Risk Services & Technology (RST), Milford NH. RiskNav® is a well-tested tool developed by MITRE to facilitate the risk process and help program managers manage their risk space. RiskNav® lets you collect, analyze, prioritize, monitor, and visualize risk information in a collaborative fashion. RiskNav® provides the ability to view the consequence, probability, and the status of managing each risk, in a single space.

RiskNav® is a Web-based risk management software tool that supports the identification, prioritization, and management of project risks. RiskNav®, originally produced for the U.S. government, is designed to capture, analyze, and display risks at a project or enterprise level. RST intends to commercialize the RiskNav® product and customize the installation to address technology considerations (e.g., Web-server compatibility) and certain programmatic specifics (e.g., the design of risk wizards specific to an organization). MITRE has published numerous papers and briefings on the theory and concepts behind the tool. MITRE RiskNav Program Manager Norm Bram said, “RiskNav® is recognized by the Electronic Systems Center (ESC) at Hanscom AFB, as a best practice for program and project management and has been successfully utilized on a number Air Force programs.”

Risk Services & Technology will sell, distribute and support RiskNav® with its other risk management products and solutions. The company plans to market RiskNav® to its current customers in the private sector, as well as, to the military. Charles W. Bosler Jr., President/CRO of RST (Bosler@RiskTrak.com) said today, "We are excited to add RiskNav® to our line of risk management products and services. This will benefit a global marketplace that is ready and eager to collaborate on risk management in corporations and government organizations as a way to save time, money and lives."

MITRE (www.mitre.org) is a not-for-profit national resource that provides systems engineering, research and development, and information technology support to the government. It operates federally funded research and development centers for the Department of Defense, the Federal Aviation Administration and the Internal Revenue Service, with principal locations in Bedford, Massachusetts, and McLean, Virginia.

Risk Services & Technology (www.RiskTrak.com) is a qualified service-disabled (SDB-8a) veteran owned business concern in the high technology arena, involved with risk management consulting services, software development, and systems design. RST has experience consulting with government agencies as well as large and small companies. RST is a company dedicated to advancing the project risk management discipline. RST has offices in Milford, New Hampshire and Los Angeles, California.