Risk Management is at the heart of all QEHS & GRC programs.  We believe organizations assume excessive amounts of risk by not properly recording and assessing potential negative impacts to their orgainzations.  To propelry asses risk, EXP has designed a Risk Management Module which can be used holistically throughout the entire organization.  A major beneift of using our global system is that all risks throughout the orgainzation are gathered in one place.  In the process of gathering the risks, the orgainzation deterimines a set of criteria and a weighting system, so all risks are evaluated in an exact and equal manner.  By following our process, the orgainzations is able to get a big picture view of all of the risks within their orgainzation and they have the ability to drill-down into the individual risks.

EXP's Risk Management Module will give your orgainzation the ability to properly assess all risks and then allocate the required resources to mitigate the risk or accept the risk through an (optional) approval process.  We provide a flexible platform which can be configured to assess risks of any form or within any required work-flow.  We currently have customers managing risks across their entire global orgainzations with upwards of sixty-six different risk type categories and hundreds of associated risks being managed.

The Risk Management Module comes with a pre-built intuitive work-flow and notification management system which can be deployed "as-is" or adjusted to your requirements. In addition, we provide an extensive set of standard & complex textual and graphical reports.  EXP's reporting engine allows us to report on any information that has been recorded in the system.

EXP on Risk Management:

• Risk Management (RM) is a critical part of an organizations Governance, Risk & Compliance
• Risk is inherent in all parts of an organization
• We believe in an “All Hazards” approach to RM
• RM should be integrated into all EXP products that affect mission critical operations
• Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary.
• Risk = Impact of Risk event x Probability of Occurrence

The Risk Management Module consists of the following core functions:

• Identification of Hazards, Risks and Controls
• Assignment of Likelihood and Consequence
• Risk Rating Matrix
• Corrective/Preventive Actions Management

 The Risk Management Process Flow:

Risk Management Module Benefits:

• Centralized system - one location for all risks, assessments, hazards, controls, consequences, likelihoods, levels and action items
  -  Automated notifications are utilized throughout the Risk Management process flow
  -  Corrective/Preventive action generation, notification and tracking
  -  Management Dashboards and real time reports
  -  Multiple layers of security can be applied based on user roles
  -  Full edit / audit trail for all system changes
  -  Data import and export capabilities (both manual & electronic)
• Risk Management Measurement
• Risk Management Mitigation
  -  Enhances transparency & management decision making
  -  Supports responsibilities to stakeholders,  investors and customers
  -  Reduces costs & streamlines operations through consolidation and standardization
  -  Assess risks, economy, efficiency and quality
  -  Reinforces and strengthens internal controls, programs and processes
• GRC software integration

Sample of Risk Management Score Card Reporting:

Please contact us any time for additional information or for a Risk Management product demonstration.