A1 Enterprise completed a series of A1 Tracker risk assessment software presentations for an oil & gas company based in Europe. The corporate risk manager currently manages separate risk assessment spreadsheets across 25 locations around the world. The risk assessment process is currently a manual process and highly labor intensive. Once the risk manager distributes the risk assessment sheet to each location, the risk assessment is returned from each location on separate sheets, after which point the risk manager manually creates a risk assessment heat map for executive reporting.
Aside from the manual process consuming a significant amount of time, there are additional organizational and data management issues with the current risk assessment process.
- The risk assessment worksheets lack data integrity across all locations. There is a lack of standardization across the organization and the risk metrics in the spreadsheets are changed at the location level, often resulting in data points that do not adhere to the risk metrics that organizational leadership needs. This impedes the corporate risk management and leadership team from making sound decisions based on a consistent risk assessment criteria across the entire organization.
- As each risk assessment is submitted, there is no clear risk audit trail that allows the risk management team to evaluate risk assessment trends over a period of time, or compare risk assessments year over year. It is difficult if not impossible to see how risk assessment ratings historically increase or decrease at different levels within the organization.
- Managing risk resolution steps, assignments, and due dates is done offline via email, and lacks a sound organizational structure to follow up on or escalate the risk resolution process.
- There is no formal approval process in place that indicates when a risk resolution is completed. This can leave risk resolutions open-ended and even lost in email boxes already inundated with email communication on other business topics.
- There is no formal notification process to alert appropriate people throughout the company when high risks are identified. This is currently a manual process that depends on offline and manual communication efforts.
- There is no way to capture incidents that occur, such as damaged assets, injuries, claims, and equipment failures, due to an incomplete risk resolution, inaccurate risk assessment score, or inadequate oversight managing the risk overall.
To solve these problems, A1 Enterprise presented A1 Tracker enterprise risk assessment software offering a suite of web-based risk assessment tools that cover all of these bases, and more. The core software offers over a dozen modules supporting a complete risk assessment process with partial or full automation from start to finish, including risk auditing, workflow, alerts, notifications, heat map reporting, incident management, follow ups, and resolution assignments.
Because A1 Tracker is a centralized risk assessment database, data may be partitioned out and accessible by specific levels and segmented within the organization by unlimited levels:
– Business Unit
A1 Tracker also supports risk assessments at individual levels:
The centralization of risk assessment data allows a corporate administrator to govern how and what risk assessment metrics are tracked. Therefore, users cannot change risk assessment scoring criteria, drop down settings, and other variables as they did in the worksheets. This creates uniform and consistent risk assessment criteria across the organization. A1 Tracker also offers the flexibility to tailor risk assessment ratings, scoring, and other metrics & variables based on what level or function of the company is proving the risk assessment.
A1 Tracker offers business rules and workflow automation. When users submit their risk assessment, business rules trigger automatic alerts to specific individuals responsible for risks based on organizational criteria, such as region, job title, and risk threshold, for example. These business rules are fully customizable to organizational strategy.
The resolution module allows risk managers to track assignment due and an audit review by another party for verification. This adds an additional layer of risk resolution to ensure a sound resolution has been put into place.
A fully integrated incidents module allows the risk management team to track and report on risks that led to incidents, and even track incidents that may have occurred because a risk went unnoticed or under the radar. The incident module serves a key function in risk assessment software because incidents that arise may also direct future risk assessment improvement strategy. Key risk metrics may be adjusted based on incidents that occur, and A1 Tracker may even compute predictive analytics based on past risk and incident performance criteria and other operational variables such as staffing and turnover.
A key highlight and start of the show for this round of risk assessment software presentations was the risk assessment heat map. The heat map automatically generates and dynamically changes real time as risk assessments are submitted. The risk assessment heat map is accessible and current with zero manual input and accessible at all levels throughout the organization.
Users of A1 Tracker can view their heat map by entity, division, region, business unit, project, contract, or even vendor with real-time data, on-demand, from any location in the world, and from both workstations and mobile devices. With A1 Tracker, the search time to monitor or notify of critical risks is reduced to next to nothing.
Finally, the second co-star of the show was the end-user risk assessment portal. A1 Enterprise offers a user-friendly web-based risk assessment portal that functions like a spreadsheet and acts like a web page while allowing users to quickly rate and score risks then submit for approval. The portal also prevents the user from altering the over structure and settings of the risk assessment and scoring data.
A1 Enterprise personalizes both the risk assessment portal and the risk dashboard to target the specific needs of the users and to further streamline the risk assessment process thereby removing any barriers of use. This ultimately results in capturing good quality, omission-free, and consistent risk assessment data.