Enterprise Risk Management

FastTrack.net’s Risk Management module covers: Corporate Risks OHS & Environmental Risk Process Risks Security Risks Hazard Management In addition, FastTrack.net’s neural-network architecture allows the applying of advanced Risk Management practices widely through all corporate management practices. Imagine in the fields of Process Management, Contracts, Skills and Training or Equipment Management, using survey and assessments techniques, multi-dimensional Risk Calculator for rating of priorities, HACCP monitoring of processes, and measuring the degree of improvement in changes to processes or situations. Fast Track’s flexibility will also allow you to change all corresponding drop down menus, screen field names etc.

The ability to aggregate risks provides for high level management of resources. Having a formal framework for Risk Assessment allows delegation of assessment and therefore a wider appreciation of risk on the operational environment.

  • Hazard log with workflow
  • Risk Assessments with review schedules
  • Control Measures & mitigation
  • Preliminary & Residual Risk Rating
  • 4 Dimensional Risk Calculator (includes Age & Sensitivity)
  • Analysis by Cause and Impact
  • Hierarchical Structures with rollup

Risk Calculator

Fast Track’s 4 dimensional Risk Calculator allows users definition of scales and ratings per area. Even the business rules for calculation and weighting are user definable by area. This allows different calculators for OHS, Environment, Process, etc.

Extending the calculator to 4 dimensions allows inclusion on indirect effects such as political or press involvement produces a real world rating and there greater operation acceptance of the Risk Management framework.

Risk.Calculator

Features:

  • Preliminary Risk & Residual risk calculator to track ratings before and after controls.
  • User definable Risk Calculator up to 4 dimensions with individual weighting. Dimensions include Probability / Severity / Consequences / Age
  • Separate calculators for each category of risk
  • Multiple methods of calculation including standard Matrix, weighted factors, qualitative table lookup

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