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Visual Risks Announce Release 2 of Visual Risk Analyser

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 of risks.

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:

  • A traffic light system to identify the risk status of individual dependencies and show their impact on the whole business
  • A database of critical information associated with each dependency or risk issue
  • A report facility on risk status, issues and management action plans
  • The ability to publish the model and risk data as web pages so that they can be used anywhere, anytime

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:

  • PC with Pentium 200 MHz or higher processor; Pentium III recommended
  • Microsoft Windows NT 4.0 with Service Pack 6 or later (requires MS Internet Explorer 4.01 browser with Service Pack 1 or later); Windows 2000 Professional or later
  • Microsoft Visio 2002 Service Pack 1 or later
  • For Windows NT, 32 MB of RAM for OS plus additional 48 MB RAM for Microsoft Visio 2002
  • For Windows 2000, 64 MB of RAM for OS plus additional 48 MB RAM for Microsoft Visio 2002