13th May 2003
Visual Risks Ltd today announced the release of Version 2 of their flagship Visual Risk Analyser software.
This latest version includes a traffic light system to identify the risk status of individual dependencies
and their impact on the whole business; a database of critical information associated with each dependency
or risk issue; a report facility for risk status, issues and management plans and a Web publishing capability
to allow information to be distributed to everyone involved in the management, monitoring and mitigation
Visual Risk Analyser was developed by practising risk consultants, in response to the increasing need
for effective risk management tools in the world of business and government. The level of risk faced
by all businesses is increasing. If that were not enough the demands being made by statutory and regulatory
bodies in relation to the monitoring and reporting on certain types of risk is adding yet another layer
of complexity. It is no longer good enough for an organisation to say that have a risk management policy
in place, the Turnbull Report requires them to report on these procedures. And the penalties for failing
to manage risk effectively are commensurately greater. For example, last year alone US financial services
firms reported over $7 billion in operational risk losses
Failure to manage the resources on which a business depends – building systems, IT, administrative processes,
critical skills, manufacturing skills, etc. will certainly affect business performance and customer
satisfaction. Failure to comply with regulatory demands could result in business closure.
Visual Risk Analyser is a simple but effective solution to the complex problem of risk management. A
very easy to understand visual database identifies the factors on which the business depends, how risk
is being managed and what actions are needed to reduce the risk of failure.
Visual Risk Analyser allows users to build up a dependency model very rapidly, showing how the business
depends on systems, equipment, staff, services, etc. and the risk issues associated with them. It features:
Whether users are the individual responsible for maintaining essential equipment or the Chairman of
the Board, Visual Risk Analyser provides them with a comprehensive view of the risks their business
faces. Its clear, concise presentation makes it easy to understand at a glance, but it also has the
ability to provide a detailed analysis of any issue with a single click of the mouse button.
Built around Microsoft Visio, Visual Risk Analyser requires the following system characteristics: