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                "Experts in Risk Management" TM

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What Could One Unidentified Risk Cost ... ?  TM

Process

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Take a Pro-Active approach to Risk Management
with the RiskTrakTM

ARM Process

Analyze-Report-Manage

RiskTrak is a software tool that supports an
integrated project management process (ARM)
to help ensure your assets contribute to the
achievement of your strategic goals and objectives.

Analyze Risks

RiskTrakTM comes with Interview Experts that will help you generate your projects. The Experts create a private database that will allow program and project teams to identify and communicate risks in all areas of their business. By automating a standardized process, they also serve to ensure that risks are not overlooked.

Customized Interview Experts can be configured for any type of Business Process, Program Plan, WBS, Design & Development Methodology, etc.

RiskTrak's Risk Editor allows you to enter your own risks. Whatever you choose to manage can be entered into the database. Edit risks; assign weight factors, probability, cost, duration, classification, phases, target resolution date, status and assignees.

RiskTrak's Mitigation Editor allows you to perform "What if...?" and "Go/No-Go" analysis in real time. Identify risks and strategies early on in a project when costs are lower and potential impact less.

RiskTrak's Networking Capability allows all team members to become part of the decision-making process and improve their ability to make "good decisions based on good data," which will increase the likelihood of a successful project or program. They can consistently analyze and account for risks throughout the duration of a project, and communicate those risks to management.

Report Risks

RiskTrak provides incomparable communication of risks with complete support for workgroups. Using RiskTrak's Networking Capability and Intranet Notifications, teams can assess risks independently and compare results.

Standardized reports can be produced allowing teams to assess risks independently and present the data with concise charts.

Reports, charts, graphs and database queries can be communicated using familiar network tools and Intranet notifications.

RiskTrakTM has full project status reporting capabilities:

  •  Cost by Category
  •  Cost by Phase
  •  Cost by Classification
  •  Duration by Category
  •  Duration by  Classification
  •  Schedule Slip by Phase
  •  Project Risk Plan
  •  Ad hoc reporting

The reporting capability of RiskTrakTM will enable you to understand what and where the high risk factors are and know they are being managed.

RiskTrak's powerful SQL Engine allows you to query, sift, sort, extract and report data from a project or multiple projects at once. You can export data to other popular PM programs, such as MS Project, MS Office, etc. through RiskTrak's ODBC interface, which allows you to import and export through CVS  format.

Manage Risks

With RiskTrakTM you can:

  •  Establish a strategy for eliminating or reducing the sources of risk
  •  Monitor and control the execution of mitigation strategies
  •  Provide effective communication of risks

RiskTrak's Windows-like "drag & drop" interface enables you to easily compile historical archives of your projects and programs. This is especially effective with Milestone Reviews, Earned Value Management Systems (EVMS), etc.

RiskTrakTM is useful for all levels of the organization:

RiskTrak can be used by Executives to ensure that risks have been accounted for in the critical areas of a program, and analyze new opportunities.

Senior Managers can use the data to make decisions about whether to continue, modify or cancel a project. Using RiskTrak they have a tool that defines and documents roles, responsibilities and authority which helps to ensure compliance.

RiskTrak at the Program/Project level yields consistency across all projects and provides up-to-date readily available information that can be used to drive project decisions.

Project Managers can take part in devising and approving the solution to problems that are identified.