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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Risk Hazard Logs

Hazard Logs provides a system for anyone to lodge an identified existing Hazard requiring attention, either directly or via a web portal. Lodgement initiates electronic workflows that notifies and escalates rectification actions and control measures.

Ease of notification and ability of an anonymous report simulates greater awareness and investigation of risks producing a safety work environment and thereby greater productivity. This proactive feature is available in all Risks including Business, Process, Security, etc.

Features:

  • Register for Risk Identification of potential Hazards with established context
  • Schedule regular reviews with auto notification & escalation emails
  • Attach reviews, reports, emergency plans, photos, emails, scanned documents, etc.
  • Instigate & monitor corrective & preventive action
  • Linking to related documents internal & external
  • Personnel qualifications & training, external contact
Risk.HazardLogs

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Risk Assessments

Fast Track Risk Assessment provides a comprehensive system for identification, assessing, allocating control items and control measures and reporting and scheduling ongoing reviews of risks. The hierarchical structure allows for categorization and consolidation of risk across the enterprise.

Automatic reporting of high risk provides greater confidence and allows for quicker mitigation of risks. Scheduling and reminders ensure continuing focus on risk in the longer term. Structured assessment tools provide consistency across Depts. and across changes in personnel allowing greater reliability of data.

Risk.Assessments

Features:

  • Hierarchical Structures with rollup
  • Fully integrated Safety & Health, Environment, and Process Quality
  • Data Security at record level for view, edit and control access
  • Period review schedules with email reminders
  • Control Measures and mitigation actions

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Risk Control Items

Control Items allow for user definable lists of all control categories for risk mitigation in the workplace/organisation including equipment, processes, environment, safeguards, etc.

Having a repository of Control Items allows for more efficient use of resources and better cost control on mitigation.

Features: Risk.ControlItems

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Risk Control Measures

Control Measures are workflow based tasks for implementing Control Items and/or Risk Mitigation on identified Hazards and Risk Assessments.

The automatic workflow notification, reminders, and escalations ensure control items and control measure on fully implemented. With the Workflow including reassessment of the Risk, Fast Track creates an environment for Continuous Improvement and Mitigation.

Risk.ControlMeasures

Features:

  • Workflow with email reminders & escalation
  • History of activity, correspondence, workflow
  • Attachment of case notes, & related files
  • Scheduled review
  • Comprehensive security module for access
  • Injury and investigation management

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